Bigger and Better! Valley Isle Community FCU Expands to Lahaina
Great news!! The board of directors of both the Lahaina Federal Credit Union and the Valley Isle Community Federal Credit Union unanimously agreed to merge the LFCU into VICFCU. This merger was approved by the National Credit Union Administration, which oversees all federally insured credit unions.
The majority of Lahaina FCU members who voted on the merger were in favor of it, and the results were announced at a special meeting on August 16. The merger is expected to be made official on October 1, 2008.
The assets and membership base of Valley Isle Community Federal Credit Union will significantly increase as a result of the recent merger with Lahaina Federal Credit Union. Your VICFCU will have assets totaling more than $89 million and 11,400 members.
“As we grow our membership base, we can spread our operating costs across a broader base, and that ultimately results in more cost efficiency to save our members more money,” said Alan Arai, Valley Isle Community FCU President/CEO.
The service area of the Valley Isle Community Federal Credit Union covers the entire island of Maui, but we’re always looking at ways to bring our services to more neighborhoods to provide more convenience for our members.
“We have a 68-year tradition of helping Maui families that dates back to the early plantation days, and now the credit union is continuing this long-standing tradition by reaching out to more families in Lahaina,” Arai said.
Lahaina FCU, located at 180 Dickenson Street, Suite 212, will be will be available for you, effective 10/2/08 with limited services including check deposits and withdrawals, loan applications, and new accounts and products. We hope to have full service capabilities including cash withdrawals and shared branching in early 2009.
“Increasing our membership and our financial strength have always been priorities for us, Arai said. In addition to being a smart move for Valley Isle Community Federal Credit Union members, the merger has also been good for the Lahaina credit union members, who will soon have new banking products and services that were not previously available to them. Valley Isle Community Federal Credit Union will be there for them as their needs change. It’s a win-win for everyone.”
Arai noted for example that Lahaina FCU members will soon be able to take advantage of mortgage loans, online banking and debit& credit cards.
If you know anyone who lives in Lahaina who may be interested in opening an account with Valley Isle Community FCU, please have them stop by our new Lahaina branch or call 877-3232.
