HCFCU OPENS NEW BRANCH & ADMINISTRATIVE OFFICES

February 21, 2006

Media Contact:
Michael Asam, President, CEO
Hawaii Community Federal Credit Union
808-930-7700
For Immediate Release

Kailua-Kona, Island of Hawaii - Hawaii Community Federal Credit Union (HCFCU) on the Island of Hawaii celebrated the opening of its new Branch & Administrative Offices at Kaloko, located in Kaloko Light Industrial Park just north of Kailua-Kona, with a grand opening event Monday, February 20. The event was attended by hundreds of HCFCU members and included the dedication and naming of the new building.

Grand Opening Highlights

Members and nonmembers alike were invited to tour the new facility, enjoy light refreshments and entertainment, learn about HCFCU's services and win dozens of door prizes.

As part of the opening ceremony, HCFCU officials dedicated a time capsule that will be sealed up in a pillar in the lobby of the Branch & Administrative Offices at Kaloko. The time capsule contains mementos from HCFCU's first 70 years in operation, including a 12-foot-long scroll that was signed by grand opening attendees, historic photographs, printed materials and more. Mounted on the pillar is a commemorative plaque that instructs for the opening of the time capsule to coincide with HCFCU's 100th anniversary in 30 years, on October 16, 2036.

HCFCU also dedicated the building in honor of its current Chairman of the Board John Y. Iwane, officially naming it the John Y. Iwane Credit Union Center. Iwane joined HCFCU as a member in 1944 and was elected to serve on its board in 1949. He served for 11 years during his first stint. He returned to the board in 1971 and was elected chairman of the board in 1986, where he remains the strong leader today. Iwane's career as a University of Hawaii agricultural extension agent on the Island of Hawaii spanned more than 30 years before he retired in 1972.

"It gives us great pleasure to name this building in John's honor," said Michael Asam, HCFCU President/ CEO. "John's professional goal through his career was to make a positive difference in people's lives to better the community. He has taken this goal and threaded it through his other personal pursuits, including his position as chairman of our board for 20 years now. John has given so much of his time, energy and expertise to HCFCU. Now, by dedicating this new building in his name, we can honor his commitment for generations to come."

The Building and its Services
The Branch & Administrative Offices at Kaloko is a two-story, 26,000-square-foot office building that sits on 2.3 acres and houses a full-service branch as well as the administrative and corporate headquarters of HCFCU. Inside, members have access to eight manned teller stations and two merchant teller stations. A safety deposit vault is equipped with a state-of-the-art biometric recognition security system that analyzes the pattern found on the user's hand in order to gain access, offering a heightened level of protection and authenticity. Outside, the new branch offers four drive-up windows, two drive-up ATMs and a walk-up ATM. The parking lot features 120 parking stalls, all of which exceed Hawaii County's size requirements, including five stalls specifically designed for long-bed trucks. The branch is open from 10 a.m. to 6 p.m. Monday through Friday and from 10 a.m. to 2 p.m. on Saturday. The drive-up windows are open two hours earlier during weekdays, from 8 a.m. to 6 p.m., and from 10 a.m. to 2 p.m. on Saturday.

Inside the lobby area of the Branch & Administrative Offices at Kaloko is a unique pictorial display that charts HCFCU's first 70 years of business and growth on the Island of Hawaii. HCFCU was chartered in 1936 by 10 Kona coffee farmers who were struggling to survive the Great Depression. Faced with banks that would not lend them money, they took matters into their own hands in order to ensure the survival of their farms and families.

Manpower
Timothy Ashcraft took the reins as manager of HCFCU's Kaloko branch in 2005, overseeing the opening of the new branch, the installation of equipment and hiring and training of employees. Now that the branch is up and running, Ashcraft is responsible for its overall efficient operation, ensuring its employees provide timely and accurate services to HCFCU members. Ashcraft also manages HCFCU's new Call Center, which became operational on January 3. The Call Center, which handled 15,000 incoming calls in its first month of operation, provides HCFCU members access to their financial information and services every day of the week. Prior to this appointment, Ashcraft was branch manager in North Kohala and has been an HCFCU employee since April 1997.

Background Information
HCFCU now operates five Island of Hawaii branches: two in Kailua-Kona - the new Kaloko branch and the branch on Hualalai Road - as well as branches in Kealakekua, Kohala and Paauhau. HCFCU has been serving Island of Hawaii residents for 69 years. It is a $280 million asset not-for-profit credit union that is wholly owned by its 31,200 members. In addition to providing complete checking and savings services, the credit union also offers credit cards, auto, mortgage, construction, small business, educational and personal loans; investment services; money-saving programs and more. It sponsors two Student Credit Unions, one at Konawaena High School and the other at Kealakehe High School, and supports numerous Island of Hawaii programs and events. For more information visit www.hicommfcu.com.

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Editor: Digital photos of HCFCU's new Branch & Administrative Offices at Kaloko as well as the grand opening celebration are available by contacting Wendy Tucciarone, 808-326-1126 or wendyt@hawaii.rr.com, or Sharon Sakai, 808-329-8465 or ssakai@aloha.net.