Immediate Financial Relief for Hawaiʻi State FCU Members Affected by Kona Low Storms
As Hawaiʻi grapples with the aftermath of the recent Kona Low storms, the Hawaiʻi State Federal Credit Union (HSFCU) has launched an emergency relief program to support its members facing financial hardships due to the floods and ongoing disruptions. The program offers several assistance options, including emergency assistance loans, payment deferrals, and penalty-free early term share withdrawals.
Program Highlights
- Emergency Assistance Loans: Eligible members can access loans up to $5,000, with no payments required for the first three months and no prepayment penalty.
- Payment Deferrals: Members can defer payments on eligible HSFCU consumer loans for one to three months. Interest will continue to accrue during this period, and the loan term will be extended, resulting in a final balloon payment.
- Penalty-Free Withdrawals: Members can develop early, penalty-free withdrawals from existing term share accounts.
HSFCU President and CEO Andrew Rosen emphasized the credit union’s commitment to providing meaningful support to help members navigate their financial recovery. “These situations can create real financial strain in a short period of time. Our goal is to provide meaningful support through practical options that help ease that burden, provide access to funds, and give our members stability as they navigate recovery,” Rosen stated.
Additional Resources
For more information, members are encouraged to visit the Hawaiʻi State Federal Credit Union’s Emergency Member Relief Program page or contact the credit union directly. Those affected by the floods can access a variety of resources through local emergency services, including housing assistance, food, and transportation. The Aloha United Way’s 2-1-1 helpline and the Hawaiʻi Department of Health’s Kona Low Storms website provide further support and information on health and safety.
Stay Informed
HSFCU branches will be closed on Excellent Friday, April 3, but members can access their accounts 24/7 through Digital Banking or the HSFCU Mobile App. For updates on recovery efforts and public health advisories, residents can refer to the City and County of Honolulu’s Kona Low Storm Recovery website and the Maui Recovers website.
Conclusion
The launch of the Emergency Member Relief Program by the Hawaiʻi State Federal Credit Union is a crucial step in aiding community members affected by the Kona Low storms. By offering financial relief and resources, HSFCU is helping to stabilize its members’ financial situations as they work towards recovery. As the community continues to rebuild, such support systems will be vital in ensuring a resilient and prosperous future for all.
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