HONOLULU — Even though nearly 1,000 members of $30 million Aloha Airlines Federal Credit Union's 4,595-member base were laid off as a result of Aloha Airlines' shutdown last week, most were bracing for the carrier's collapse.
That's according to said Doug Mashino, AAFCU credit union spokesperson. Founded in 1952, the single occupational common bond AAFCU had a 56-year history with Aloha Airlines. The credit union will continue to serve Honolulu-based Island Air, once a subsidiary of Aloha Airlines.
"The key thing was we knew members were thinking the credit union would cease," Mashino said. "The biggest concerns were will we go away and do we have liquidity or cash problems. "We were pleasantly surprised that some of our members were prepared," "Those in shock were able to ask for help. The response has been very positive."
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Needless to say, members impacted by Aloha Airlines' collapse, are still getting their bearings. With the layoff, benefits and vacation pay were terminated. Many were long-time employees of the airline, Mashino said. Members are starting to ask for emergency cash loan and loan payment deferrals.
Aloha Airgroup, the parent company of Aloha Airlines, closed shop on March 31 less than two weeks after filing for bankruptcy for the second time in three years.
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