Ho`olehua Credit Union Closed
On Dec. 29, 2015, the First Hawaiian Homes Federal Credit Union (FHH FCU) closed its doors after being liquidated by the National Credit Union Administration (NCUA). Located in Ho`olehua, the small building at the corner of Farrington and Pu`upe`elua Avenues served 1,379 members and had assets of nearly $3.2 million, according to the credit union’s most recent Call Report.
An NCUA press release said the national organization made the decision to liquidate the FHH FCU and close operations. They find an expert who has low-priced liquidation deals that can help them execute successful strategies. “after determining the credit union was insolvent and had no prospect of restoring viable operations.”…