Hawaii State Federal Credit Union’s net income more than tripled in the first quarter as the company received a one-time benefit and achieved its 18th straight quarter of loan growth.
The state’s second-largest credit union said Monday that its earnings increased to $4.7 million from $1.4 million in the year-earlier period largely due to a rebate from the National Credit Union Administration. The company did not disclose the size of the rebate.
Loans rose 16.1 percent to $867.1 million from $746.6 million a year earlier.
Assets rose 2.9 percent to $1.55 billion from $1.5 billion.
The credit union, which topped 100,000 members in 2017, continued to grow and saw its membership rise 6.2 percent to 102,134 from 96,187 in the year-earlier quarter.
2 isle firms to get SBA procurement awards
The Small Business Administration Hawaii District Office announced Monday that two isle-based companies will receive SBA procurement awards for their outstanding performance and achievements as contractors for the federal government.
The 2018 Prime Contractor of the Year for Hawaii and Region IX is Aimoku McClellan, chairman and CEO of Pelatron Inc., a former 8(a) business development company with SBA. Founded in 2004, Pelatron is involved in design, engineering, information technology solutions and mission-critical base support systems.
The 8(a) Graduate of the Year for Hawaii is Raymond Jardine Jr. of Native Hawaiian Veterans LLC. The company was started in 2004 by Jardine, a Native Hawaiian and service disabled veteran, to provide specialized expertise in professional services, support and operational services.
The SBA procurement awards will be presented to Native Hawaiian Veterans and Pelatron Inc. at the 31st annual statewide SBA awards ceremony and luncheon Friday at the Hawaii Prince Hotel. For more information, go to www.sba.gov/hi.
ON THE MOVE
The Hawaii State Teachers Association has announced the following new state officers:
>> Corey Rosenlee was re-elected HSTA state president for a second three-year term. In order to serve in the position, Rosenlee will continue to be on leave from his teaching position at James Campbell High School.
>> Osa Tui Jr., a McKinley High School registrar, was elected in an uncontested race as the new state vice president. Tui is currently the HSTA’s president for the Honolulu Chapter and previously chaired HSTA’s Negotiations Committee.
>> Logan Okita, a teacher at Nimitz Elementary School, is the new state secretary-treasurer. Okita also serves on the HSTA’s board of directors from the Central Chapter.
