HONOLULU – University of Hawai`i Federal Credit Union (UHFCU) reported net income of $1.370 million on assets of $583 million for the quarter ended March 31, 2016. Based on recent data from the NCUA, UHFCU’s Return on Assets (ROA) of 0.95% surpassed the national average for credit unions.
Even more impressive, UHFCU said it achieved these numbers without relying on fees from its members. UHFCU’s ROA without fee income was 0.82%.
“We’re proud of the results we’ve been able to achieve without relying on fee income from the members we serve,” said UHFCU President and CEO Jeanine Morse. “At the same time, we’ve been able to provide our members with some of the top deposit rates in the market, such as our 16-Month Special Certificate with a 1.20% APY (annual percentage yield).”
“We believe a large part of our financial success is due to the diligence and outstanding service our staff provides to members. This focus on the member experience is evidenced in our member service surveys, where 95% of our members have said they’re likely to recommend us to a friend or family member. All of this is really great news for our members, community, and the credit union movement,” concluded Morse.