Holomua Hawaii gives away $23M
Mar. 3—Hawaii Community Federal Credit Union said $23 million was distributed to local businesses in need at the end of 2020 as part of the Holomua Hawaii grant program. Hawaii County appointed HCFCU as the coordinator to distribute those funds, which were provided by the federal Coronavirus Aid, Relief, and Economic Security—or CARES—Act.
HCFCU and five other Hawaii island credit unions provided financial relief to 2, 510 businesses or nonprofits with 50 employees or fewer from September through December. Grantees were provided up to $10, 000 to use for supporting core operations, ongoing and reopening costs, purchasing personal protective equipment, training and technical assistance.
"With cooperation from numerous credit unions, and the outstanding leadership of Hawaii Community Federal Credit Union, we were able to get $23 million into the hands of small business owners, which allowed them to keep their lights on and their doors open through the COVID-19 pandemic, " Hawaii County Mayor Mitch Roth said.
HCFCU is owned by its 44, 000 members and has branches in Hilo, Honokaa, Kailua-Kona, Kaloko, Kealakekua and Kohala. It also has student credit unions in Kealakehe, Kohala, Konawaena and Hilo high schools.
