Kudos to the youth!

Hawaii Community Federal Credit Union (HCFCU) has the privilege of honoring several youth this summer. Join us in congratulating these talented scholars and savers!

Each year, HCFCU awards thousands of dollars in college scholarships. In 2007 HCFCU selected five senior high school students to receive $2,500 each and three senior high school students to receive $1,000 each. Scholarships were awarded based on student need, academic achievement, community involvement, extracurricular activities and career goals. The $2,500 college scholarship recipients are Kathryn Chiemi Kawauchi from Hilo High School studying political science; Nalehua Felicia Pitoy from Kamehameha Schools Hawaii studying physical therapy; Jacqueline Nicollette Reed from Waiakea High School studying civil engineering; Sara Beth Leiko Uyetake from Christian Liberty Academy studying pharmacy; and Megan Wilkes from Honoka’a High School studying architecture.

In the event that an Island of Hawaii high school with an HCFCU-sponsored student credit union does not have a scholarship recipient for the current school year, a special $1,000 scholarship is awarded to one graduating senior at that high school in the name of their HCFCU-sponsored student credit union. This year’s recipients are: Eamon Joseph Harrity from Konawaena High School studying environmental science; Chelsi Keolamaiokalani Hood from Kohala High School studying nursing; and Jordan Ozaki from Kealakehe High School studying communication broadcast journalism.

Additionally, three youth members of HCFCU were awarded special prizes for their efforts at saving during the 2007 Youth Savings Challenge. Nanea Wall won a railroad crossing coin bank in the 0- to 6-year-old category; Emma Blake won a 20-inch LCD television in the 7- to 12-year old division; and Zeke Perry won an xBox 360 video game console in the 13- to 18-year-old group.  These youth members all visited an HCFCU branch in April to make a deposit into their account and, at the same time, fill out an entry form for the contest.

The future lies in the hands of our youth. HCFCU believes it is important to recognize and encourage their efforts to succeed.

Celebrate National Grilling Month!

July is National Grilling Month. It’s the prime time for most Americans to get out of the kitchen, fire up their grill and savor the flavors of summer. Grilling has its advantages – and some can even save you money!

Grilling is the ultimate high-flavor, low-fat cooking method. Foods that are cooked in an oven or fry pan typically sit in their own juices as they cook. While this can add flavor, it also allows those foods to soak up fat from the juices. Grilling helps maintain a delicious flavor while allowing fatty juices to drain away from the food. Many people would agree that grilled vegetables taste sweeter, meats and seafood stay more moist and even fruits, such as pineapples and apples, acquire a unique sweet and smoky flavor when grilled.

Grilling also can cut down on your utility bills. You don’t have to use the stove or oven. Also, you don’t heat up your home by using your stove or oven, possibly allowing you to cut back on air conditioning and fan use as well.

Following are a few fun tips to help make your barbecue season a success!

Keep a clean barbecue. Greasy food drippings can clog the burner’s gas ports. This can cause an uneven flame, possibly resulting in longer grilling times or burnt food.

Control the fire. In most cases, you don’t want the barbecue to have any fire; only heat. Be sure to allow the barbecue to sufficiently heat up – and the flames to die down – before placing food on the grill.

Let the food come to room temperature – take it out of the refrigerator about 30 minutes before you plan to cook it.

Remove excessive fat from the meat before you cook it. The fat can increase the fire when it starts to drip into the barbecue, and in some cases, the flares can burn the meat.

Use tongs, not a fork. When barbecuing, many use a fork to pierce and turn the food while cooking. Consequently, juice can be lost and there is a greater possibility of overcooking.

Rub it down. A rub is a mixture of wet and dry herbs, peppers, spices or seasonings pressed onto the surface of the meat before cooking. They are used to add flavor and/or seal in juices. Oftentimes, meat that has been rubbed does not require any barbecue sauces. That can cut down on calories and mess.

Debit or credit – which should you select?

Today, 94% of debit cardholders have a card with either a Visa or MasterCard logo, meaning that, in most cases, they have a choice whether to enter their personal identification number (PIN) or sign the receipt. When using your debit card at the store, you’re asked if you want it to be debit or credit. Which should you pick?

According to Star Networks, a financial services company, 45 percent of surveyed consumers said they favor using their PIN – utilizing the card as a debit card – while only 33 percent prefer to sign, as if using a credit card. The ability to get cash back, added security, convenience and reduced checkout time are just some of the reasons the consumers cited.

However, many finance experts recommend choosing credit. Even though your debit card isn’t really a credit card – you can only spend what is in your account – if you chose the credit option you often receive an extra layer of buyer’s protection that credit card companies offer. And if you sign for your purchase instead of using your PIN, your money actually stays in your account longer. PIN purchases are deducted from your account immediately, while signature purchases are not deducted from your account until the merchant’s receipts are settled.

Either way, it’s encouraging that Americans are using their debit cards more and more, with a PIN or signature, rather than relying upon traditional credit cards, where debt can so easily mount.

Applauds for Mr. John Iwane!

A last “thud” of the ceremonial gavel by Chairman John Iwane at Hawaii Community Federal Credit Union’s annual meeting May 12 signaled the end of his 21-year term as leader of the financial institution and 47 years of volunteerism.

Mr. Iwane moved to Kona in 1943. His work as an Agricultural Extension Service Agent took him deep into the communities of Kona, where agriculture – especially coffee – dominated the job market. The credit union concept of “people helping people” was a natural fit for Iwane, who has demonstrated that commitment all his adult life. He joined the credit union in 1944 and began his first stint as a director on HCFCU’s board in 1949. He remained active as an HCFCU volunteer through his working career and into his retirement from the Extension Service.

Through his 47 years of volunteer service with HCFCU, the credit union has experienced incredible growth and reached numerous milestones. What started in 1936 with a group of 10 coffee farmers determined to save their livelihood has blossomed into a full-service financial institution serving more than 32,000 members island-wide. In the past several decades, the credit union has expanded to five locations, with three student credit unions at Island of Hawaii high schools. In 2006, the credit union opened its Branch & Administrative Offices at Kaloko, which it named in honor of Mr. Iwane. He has served as the fearless leader throughout, providing his humble guidance and inspiration.

In spite of his humble approach to his accomplishments, he has been recognized on countless occasions for his spirited giving. He was the Hawaii Credit Union League’s Volunteer of the Year in 1997; earned the prestigious Silver Beaver Award, the highest award a volunteer can receive, from the Boy Scouts of America, and received the Boy Scouts of America 50-Year Service Award; was a finalist for the 1998 Hawaii County Outstanding Older American; and received the Kona-Kohala Chamber of Commerce Pualu Award for Lifetime Service in 2006.

Mahalo for all you have done for us, Mr. Iwane!