Hawaiʻi State Federal Credit Union activates emergency relief program for Hurricane Lala victims
In the wake of Hurricane Lala's devastation, Hawaiʻi State Federal Credit Union has unveiled its Emergency Member Relief Program, offering vital support through loans, payment deferrals, and penalty-free withdrawals.
Hawaiʻi State Federal Credit Union has activated an emergency assistance program for members affected by Hurricane Lala, offering loans, payment deferrals and penalty-free withdrawals from certain accounts.
The credit union’s Emergency Member Relief Program is designed to give qualifying members access to funds and additional time to manage financial obligations while they recover from the storm.
Under the program, qualifying members can apply for emergency assistance loans of up to $5,000. The loans require no payments during the first three months and carry no prepayment penalty.
Members also may be eligible to defer payments on certain Hawaiʻi State FCU consumer loans for one to three months. Interest will continue to accrue during the deferral period, and the loan term will be extended, resulting in a final balloon payment.
Deferral terms for mortgages, home equity lines of credit and revolving credit may differ, the credit union said.
The program also allows eligible members to make penalty-free withdrawals from existing term share accounts, which are similar to certificates of deposit.
“Hurricane Lala has created significant challenges for families across our state, and we want our members to know that we are here to support them during this difficult time,” Hawaiʻi State FCU President and CEO Andrew Rosen said.
Members seeking further information about the relief program can click here or visit any of Hawaiʻi State FCU’s 14 branches, call the Member Service Call Center at 808-587-2700
The credit union encouraged members to contact it directly to determine which relief options may apply to their individual circumstances.
