HONOLULU — Aloha Federal Credit Union has moved forward with a new image nine months after its 56-year-old sponsor, Aloha Airlines, shut down for good.
The $28 million credit union was previously known as Aloha Airlines Federal Credit Union. However, as of Dec. 1, it is now sporting a new moniker. The new logo comprises seven airplane contrails, which represent Hawaii's seven populated islands. The design features "an upward, sweeping motion that embodies the unified spirit of Aloha, of the airline industry, and of our credit union. Our logo represents our credit union reaching higher and taking off."
The changes come after NCUA granted Aloha FCU in July a trade, industry and profession charter to serve Hawaii's airline industry and its periphery divisions. Members will see the new name and logo on their Dec. 31 statements, with redesigned checks and debit cards to follow upon renewal. The CU is planning an open house in January.
Rising fuels costs at the time and aggressive competition from other airlines forced Aloha Airlines to close shop in March. Nearly 1,000 members of Aloha FCU's 4,595-member base back then were impacted by the carrier's shutdown.
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Central Credit Union Fund Foundation Announces Board of Trustees
WASHINGTON — The Central Credit Union Fund Foundation, which serves former credit unions of the Central Credit Union Fund and other credit unions in Massachusetts, recently announced its board of trustees.
The board will be lead by Chairperson Barry F. Crosby, president/CEO of the $363 million Freedom Credit Union and also includes: Vice Chairperson Debbie C. Guiney, president/CEO of the $50 million AllCom Credit Union; Treasurer Daniel E. Waltz, president/CEO of the $134 million Southern Mass Credit Union; Secretary Ann M. Theberge, CEO/treasurer/manager at the $38 million Plymouth County Teachers Federal Credit Union; C. David Surface, president/CEO of the $117 million St. Jean's Credit Union; Richard E. Wright, treasurer/CEO at the $570 million RTN Federal Credit Union; and Dirck C. Van Deusen, senior vice president of corporate relations at the $9.1 billion Members United Corporate Federal Credit Union.
Established by Members United, the foundation funds initiatives that support credit unions and their efforts to improve consumers' financial well being. Eligible programs include those that encourage consumer education, financial literacy, financial services to those of modest means, credit union development, service to underserved consumers and management development.
Eligible grant applicants-credit unions that belonged to the Central Credit Union Fund and those headquartered in Massachusetts-can submit grant applications after Jan. 1, 2009. Applications will be reviewed on a quarterly basis thereafter. The foundation has filed for 501(c)3 tax-exempt status with the IRS and anticipates approval of the application in 2009.
For more information, contact Dirck C. Van Deusen at [email protected] or at 518-292-3828.
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Four CUs, CUSO Mortgage Form Pact
PASADENA, Calif. — CUSO Mortgage Inc. has signed on four new credit union clients.
The $22 million California Agribusiness Credit Union, the $10 million Southland Savings FCU, the $29.3 million Brewery CU and the $9.5 million Power One FCU are the CUSO's latest clients.
Formed in 1986, CUSO Mortgage, a wholly owned subsidiary of $3.4 billion Wescom CU, provides services to more than 100 credit unions.
WOCCU Extends Membership to Ghana, Seychelles Credit Unions
MADISON, Wis. — World Council of Credit Unions has announced approval of two new members, effective Jan. 1: Ghana Co-Operative Credit Union Association and Seychelles Credit Union.
"We're very pleased with our continued growth and our ability to serve more members in Africa, one of the world's fastest growing credit union markets," said Pete Crear, WOCCU president/CEO.
Ghana's CUA, founded in 1968, had previously been affiliated with WOCCU through its membership in ACCOSCA, the African regional credit union confederation. CUA has 322 member credit unions that serve 242,000 individual members throughout Ghana and hold US$107 million in total assets.
CUA's acceptance as an independent WOCCU member marks a major step forward for the association's development, according to Emanuel Darko, CUA's general manager.
"The dream of CUA's board of directors and management was to become a member of World Council of Credit Unions," Darko said. "I am sure the board, management and the entire membership of Ghana's credit union movement will welcome the good news with great joy."
Seychelles Credit Union serves inhabitants of the Seychelles islands off Africa's eastern coast and is the country's only credit union with 10,620 members and US$8.7 million in assets. As the island nation's only credit union, the institution also serves as the de facto national credit union association for WOCCU membership.
The board also approved the transference of WOCCU's Australian membership from current member Cuscal Ltd., a wholesale provider of capital, liquidity and financial services products to ABACUS, the trade association for Australian credit unions and mutual building societies. The change, which also became effective Jan. 1, coincided with the retirement of John Gilbert, Cuscal president/CEO, who will also end his tenure as a WOCCU director. Gilbert's WOCCU board position will be assumed by Louise Petschler, ABACUS CEO.
Representatives from CUA, Seychelles Credit Union and ABACUS will be introduced and given the opportunity to speak to delegates at WOCCU's next annual general meeting, to be held in conjunction with the 2009 World Credit Union Conference, July 26-29, in Barcelona, Spain.
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