In 1954, ten pineapple farmers struggling financially pooled together $595 in savings to form Gather Federal Credit Union in Eleele, Hawaii as a non-profit financial cooperative. Their hope was that together they could improve their situation as well as those of their families and the community at large. Since then, Gather has grown considerably; now boasting five local branches with total assets exceeding $509 Million and over 35,000 members; its President/CEO Tess Shimabukuro was on hand Wednesday at the groundbreaking for their Kilauea branch, located opposite to Kilauea post office.
The meeting began with an engaging video that presented the new branding, tagline and mascot of the credit union. It demonstrated its commitment to serving their members first.
Chairman Hong welcomed and thanked members for their dedication and trust in both the Board of Directors and Management Team. Additionally, he acknowledged those who stepped forward to assist members and the community during COVID-19.
Hong announced that 538 members were present for the annual meeting. He thanked them for their continued support and cooperation as the Credit Union continues to adapt and thrive within an ever-evolving environment.
As part of a motion that was successfully made, seconded and carried, an Estimated Budget for 2020 was approved as an operating guide for the credit union.
There have been reports of larger Oahu-based credit unions venturing into Kauai communities, especially since the merger between Aloha Pacific and Kekaha Federal Credit Unions. Pentagon Federal Credit Union from Virginia may also try and enter. According to Shimabukuro, Gather FCU remains local as its volunteer Board of Directors and Officials live and work on Kauai while making decisions that benefit its Member Owners.
Shemabukuro expressed her appreciation to the Board of Directors and Committee Members for their hard work and devotion to members, as well as to Management and Staff for their ongoing dedication.
Shimabukuro discussed the significance of Gather FCU’s partnership with its community. According to her, strong and connected communities are fundamental for its business model and success, so the credit union strives to support it through outreach efforts like mobile apps, Kasasa Checking accounts that offer cash back rewards and the forthcoming opening of its Kilauea branch.
She strongly encouraged all to thank local businesses and service providers for their help during this challenging period, noting how partnerships between Gather FCU members, businesses, service providers, and service providers allow Gather to continue growing and serving its membership well into the future. With Gather’s mobile banking app you can keep an eye on your finances anytime or place. Check balances, make payments or report lost/stolen cards – plus much more!
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