Hawaii Credit Unions laws & compensation compliance analysis

Hawaii Credit Unions: What you need to know

A credit union is a member-owned financial institution organized to encourage savings and to provide loans with competitively low interest rates to members. In Hawaii, as elsewhere, credit unions have evolved into sophisticated financial institutions offering members a variety of services. Hawaii law restricts credit union membership to people who share a “common bond,” such as the same employer, the same union or benevolent association, or some similar connection (HI Rev. Stat. Sec. 412:10-103et seq.).
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Hawaii has detailed requirements for the formation of credit unions. Because of the complexity of these laws, an organization seeking to set up a credit union needs expert assistance. It is often easier to join an existing credit union than to start a new one.

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Hawaii Credit Unions Resources

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White Papers Credit Union Memberships Can Save Employees Money
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