Honolulu Federal Credit Union offering 0.5 percent loan to furloughed workers
  • Wednesday, May 22, 2019
  • 86°
Hawaii News | Newswatch | Top News

Honolulu Federal Credit Union offering 0.5 percent loan to furloughed workers

  • COURTESY HONOLULU FEDERAL CREDIT UNION

Honolulu Federal Credit Union, which was founded in 1936 by Hawaii-based federal employees, is offering a 0.5 percent interest rate on loans up to $5,000 for people furloughed by the partial federal government shutdown.

HOCU members must provide pay stubs and their furlough letter to qualify for the loan, which has a 9-month term, along with an overdraft protection loan.

Loan officers also will work with members on deferring loan payments, which could include interest-only payments.

In a statement, Mark Munemitsu, HOCU’s president and CEO, said “We have always been prepared to help our community during difficult times, offering programs and services to support their livelihood and well-being.”

HFCU’s 16,000 members now come from a long list of federal agencies, including the Department of Defense, Coast Guard, Homeland Security, FBI, Secret Service and Postal Service, among others.

There are four HOCU branches: on South Beretania Street in Moiliili; at the federal building; airport post office; and at Tripler Army Medical Center.

For more information, call 777-LOAN, 777-JOIN or email lpiosalan@myhocu.com to inquire about joining HOCU.

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