Ka`u Federal Credit Union receives CDFI certification
NA `ALEHU, Hi.-The Treasury Department has awarded Ka`u Federal Credit Union here a Community Development Financial Institution Certificate after a lengthy and involved process, announced Manager Bernard Balsis. "This is a recognition of our present and future initiatives to serve the less than affluent within our field of membership," he said. Chairwoman of the Board Janet Rychener stated that she is especially pleased to receive the CDFI Certification because "it will open doors to new programs and services that can help the socioeconomic development of the Ka`u district. We are presently working with Bank of Hawaii for low interest deposits that can be used to facilitate the credit union's cash flow. We also hope to participate in government guaranteed loan programs and obtain assistance that will ensure we can continue to expand services to the financially underserved in Ka`u." While the mainland United States economy has now entered a record-length expansion, the state of Hawaii' is in its ninth year of recession. Ka`a FCU has grown despite this fact, and Balsis eagerly looks forward to continuing to expand services to areas where they are so badly needed. "You haven't seen anything yet," he said.