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CURRENT ASSET SIZE:$318M
NUMBER OF MEMBERS:18,800
PHILOSOPHY AND STRUCTURECredit unions are democratically owned and controlled institutions based on a “people-helping-people”, “Ohana” principle. Our board of directors are elected by you, the members; each member has an equal vote, regardless of how much he or she has on deposit with us. Only members may serve as directors, and directors serve without compensation. Credit unions have no outside stockholders, so after reserves are set aside, earnings are returned to members in the form of higher dividends on savings, lower loan rates and lower cost services.
CREDIT UNION HISTORYMaui County Federal Credit Union was originally established in 1937 to serve the needs of County, State, and Federal Government Employees and their families. In February 2016, Maui County FCU revised its field of membership to a community charter. Now, anyone that lives, works, or worships within the County of Maui is eligible to join. Maui County Federal Credit Union continues to offer its members a wide variety of financial services and products, for the benefit of our Members.
SAFETY AND SOUNDNESSCredit unions primarily engage in consumer and residential real estate loans. Credit union performance is at a historically high level. Currently, the average nationwide capital ratio is 11.31%. Maui County FCU’s current capital ratio stands at 16.5%.
REGULATION AND SUPERVISIONMaui County Federal Credit Union was chartered under federal law. Federally chartered credit unions are regulated by the National Credit Union Administration (NCUA), an independent agency of the U.S. Government. No taxpayer money is used for regulating and overseeing federal credit unions. All activities of NCUA and the NCUSIF are funded by the Federal Credit Unions.