Announcements
ANNUAL DINNER POSTPONED DUE TO THE TSUNAMI
DUE TO THE TSUNAMI WARNING, THE ANNUAL MEETING AND DINNER HAS BEEN RESCHEDULED FOR NEXT SATURDAY, MARCH 6, 2010, SAME TIME, SAME PLACE. WE SINCERELY APOLOGIZE FOR ANY INCONVENIENCE THIS MAY CAUSE. (1:21 P.M. 02/27/2010)
ANNUAL DINNER
WE ARE CURRENTLY AWAITING WORD FROM THE HILTON HAWAIIAN VILLAGE WHETHER THE EVENT WILL GO ON AS SCHEDULED. WE WILL POST AN ANNOUNCEMENT AS SOON AS A DETERMINATION IS MADE (8:26 A.M., 02/27/2010)
Improvements Funds Availability Policy
We recently sent all members a letter regarding our updated Funds Availability Policy which shortens check hold periods. The revised Funds Availability Policy Disclosure may be found at http://hpfcu.com/docs/Funds-Availability-Policy.pdf. (12/18/2009)
Annual Dinner and Meeting To Held on February 27, 2010
The 72nd Honolulu Police FCU Annual Dinner will be held at the Hilton Hawaiian Village Tapa Ballroom, on Saturday February 27, 2010. The event features games and activities, a seven course chinese dinner, entertainment by A Touch of Gold and comedian Kaleo Pilanca. Plus there will be lots of door prizes and late night dancing.
For the first time, the Annual Meeting will be held on the same day at 4:00 p.m. in the Iolani Meeting Room V. Members who attend the Annual Meeting will receive a special gift.
Tickets for the event are now on sale for $25 each. We hope to see you there. (11/18/2009)
Home Banking Renovations
We're enhancing your HPFCU online banking page with a fresh, new look that will make it easier for you to navigate through the system and find the items you use most often. While the appearance and layout will be changing, the online tools will work just as they do today.
Navigation will be easier with tabs and sub-menus at the top of each page. You will see the same items under Banking and Bill Pay that you see today.
We've added a new Overview page that will give you a summary of your account information and access to most of the functions you need.
The new Self Service page is where you will find many additional features such as email messages, alerts and user preferences. Please contact our operations team if you should have any questions regarding our online banking and bill payment services.(05/01/09)
Website Shutdown
On Friday, April 23, 2009, the credit union website experienced technical difficulties because of a server upgrade migration at Oceanic Time Warner. It became necessary to temporarily shut down the site while the technical issues were being resolved. Please be assured that the security of the website was never compromised and members' personal information was never at risk.
We apologize for any inconvenience the shutdown may have caused and we are currently working to prevent future occurences of this nature. (04/29/09)
Impact of NCUA Placing Two Corporate Credit Unions Into Conservatorship
You may have read the news that two large "corporate" credit unions were taken over by the government this past Friday. What does this mean for our credit union? It's business as usual. The same level of quality service you receive from our credit union will continue. Our service to you is not affected by these government actions.
These two corporate credit unions (U.S. Central Federal Corporate Credit Union and Western Corporate Federal Credit union) are not regular credit unions like ours that serve consumers; instead they provide liquidity, investment and payment services to credit unions like ours. They are a part of a system of 28 wholesale credit unions, and they remain operational.
Due to the nature of what they do, these corporate credit unions operate in the capital markets and hold highly rated, investment grade securities. But like so many others in these markets, they have seen the value of these investments decline in the current economic downturn, resulting in actual losses. In the case of these two corporate credit unions, the losses were significant enough that the government had to step in.
Members of Honolulu Police FCU are not directly impacted by this action. Your deposits continue to be federally insured to at least $250,000 by the National Credit Union Administration and backed by the full faith and credit of the U.S. Government. Because deposits in corporate credit unions are also insured (beyond the usual $250,000), even credit union's funds in those institutions are not at risk.
Credit unions as a whole are solid and healthy. The industry's federal regulator, Michael Fryzel, in addressing Friday's action stated that, "Credit Unions that serve consumers remain strong."
Honolulu Police FCU is very well capitalized. The credit union's capital to assets ratio is 14.73%, considerably higher than the 7% industry standard for being "well capitalized" and higher than the banking industry's average of about 9%. This means the credit union is well positioned to absorb the costs of this action by the agency (which intends to charge higher deposit insurance premiums) with minimal outward impact on our members.
For more information about federal savings insurance at credit unions, visit the NCUA website at http://ncua.gov/ShareInsurance/index.htm (03/24/09)
by the NCUA.