Hawaii State Federal Credit Union posted lower net income in the third quarter but increased its loans 11.3% and announced plans to open its 11th branch later this year at the Laulani Village Shopping Center in Ewa Beach.

The 1,900 square-foot branch, which will feature interactive teller machines, will be the credit union’s third new location to open this year.

The state’s second-largest credit union, with $1.72 billion in assets, said in a financial report due out today that its earnings fell 10% to $8.4 million from $9.3 million in the year-earlier period. Loans, though, increased to $1.04 billion from $936.1 million.

Hawaii State FCU said its membership grew 6.7% in the quarter to 112,391 members from 105,342 in the third quarter of 2018.