4th Quarter 2012
Formerly Kunia FCU
Established February 27, 1940
MVFCU Closed Dates
Monday, November 12
Veterans Day, Observed
Thursday, November 22
Thanksgiving Day
Monday, December 24
Christmas Eve
All offices will close at 1:00pm
Tuesday, December 25
Chrismas Day
Tuesday, January 1
New Years Day
94-144 Farrington Hwy, #113
Waipahu, Hawaii 96797
www.kunia.coop
Phone: 808-677-6206
FAX: 808-677-6208
Voice Response: 808-677-6220
Business Hours
Monday: 9 AM - 5:00 PM
Tuesday: 9 AM - 5:00 PM
Wednesday:CLOSED
Thursday: 9 AM - 5:00 PM
Friday: 9 AM - 6:00 PM
Saturday: 9 AM - 2:00 PM
Sunday:CLOSED
Members Matter Most
With seven billion people living
in the world, each passing moment
provides an opportunity to help one
another. By losing ourselves in a cause
we believe in and are prepared to
fight for, we can find both happiness
and genuine success.
This year on October 18, 2012, credit
unions in 100 countries will celebrate
International Credit Union (ICU) Day
by banding together and appreciating
their members.
As a credit union member, you belong
to a global movement in which people
help people. Worldwide, 188 million
members experience the benefits of
belonging to a financial cooperative
that believes in and is willing to fight
for this year’s message: “Members
Matter Most.”
Credit unions exist to serve you, the
member, not to increase the bottom
line. A focus on superb customer
service and member satisfaction
sets credit unions apart from other
financial institutions. As not-for-profit
cooperative institutions, credit unions
return their earnings to members in
the form of higher interest on deposits,
lower loan rates, and fewer fees.
Irrespective of the amount you
have on deposit with us, you are
a member and an owner, with
equal ownership and one vote.
Members are never just numbers;
your ownership empowers you and
provides a voice.
In addition to member control,
credit unions offer education and
training programs. Fifty-four percent
of Americans ages 18 to 34 check their
social media accounts daily, while less
than one third do a daily check on their
financial statements. Credit unions
actively focus on creating fiscally
responsible members through their
wide variety of education programs,
which positively impact savings and
spending habits for a lifetime.
“
Credit unions
exist to serve
you, the member.
”
Credit union membership affects
lives around the world. Reina and
Rofina, women from an isolated
community in Mexico, gained access
to a nearby credit union five years
ago when a road was built. The credit
union secured a loan to build a food
distribution center where they now
work dispensing beans, rice, and
sugar to surrounding villages. Caja
Zongolica, their credit union, created
stability for Reina and Rofina and their
family’s future. It’s people like you,
Reina, and Rofina who make the credit
union difference a reality.
Member control, education and
training programs, and concern for
the community are key cooperative
values that differentiate credit unions
from other financial institutions. Our
people-first philosophy illustrates an
underlying credit union message
that will be celebrated this fall. ICU
Day’s theme, “Members Matter Most,”
conveys a simple message that strikes
home in its ability to communicate our
top priority.
Regulatory Overreach
We all want this credit union to
operate in a safe and sound manner.
In addition, we have both a legal and
moral obligation to follow the laws
enacted by our governing bodies. But
what do you do when the sheer volume
of rules become so large that even the
regulators can’t keep up with them?
When laws are so complex that it takes
thousands of pages and volumes of
regulations to implement them? When
faceless bureaucrats in some central
office decide which rules to enforce and
which to ignore?
Unfortunately, this is the environment
we operate in today. I agree with a recent
article in the Wall Street Journal when
it states: “as regulation has become
more complex, it has also become less
effective. Regulators themselves have
created complicated metrics that can’t
provide accurate measurements of
a bank’s (credit union’s) health.” The
article continues by describing a larger
.
problem: “a belief among regulators
that models can capture all necessary
information and then accurately predict
future risk. A deadly flaw in financial
regulation is the assumption that a few
years or even a few decades of market
data can allow models to accurately
predict worst-case scenarios.”
There can never be enough rules to
stop some people from doing dumb
things or to stop bad people from doing
bad things. But, if we don’t change
course we will certainly hinder the vast
majority of people, acting in good faith
and integrity, from working hard and
using their God-given talents to serve
others and create a better future.
I care deeply about serving our
members well, and I share this with
you because I see the cost and the
waste. Every dollar we spend, every
hour we work trying to make sense out
of this regulatory maze, takes time and
resources that could be used serving
you and helping you achieve your
financial goals.
Don’t let YOUR credit union slowly
suffocate under the ever-increasing
weight of burdensome regulation. As a
member-owner you need to be aware of
this situation and voice your concern to
your elected officials. It is time to speak
out and be heard on this issue.
From the Desk of Al Strawn, CEO
Create a Spending Plan for a Special Holiday
Whether you celebrate Christmas, Hanukkah, Kwanzaa,
or the solstice, the holiday season can be stressful—with
financial stress often playing a large role. People feel pressure
to give gifts, entertain, and maybe travel, but also to keep costs
down. You can try to do it all and bust your budget—which
can come back to bite you later. Or, you can hunt bargains
relentlessly, which can be exhausting and sap the holiday of
its sparkle.
But is everything really equally important? Why not
figure out what makes the holidays special for you and your
family and allocate most of your spending to those things?
Maybe there are other, less important things you can scale
back or skip.
For instance, if you love hosting a lavish holiday dinner
but are ho-hum about festive holiday clothing, don’t buy
that new outfit. Budget more for your dinner instead. The
key is to set priorities and identify the important things.
SET PRIORITIES
The American Dream tells us we can have it all, but that’s
not true for many families, especially in today’s economy.
“We have to negotiate and learn how to get what’s most
important and be willing to leave the less important behind,”
says Kathleen Gurney, Ph.D., Sarasota, Fla., CEO of Financial
Psychology Corp. and author of “Your
Money Personality: What It Is and How
You Can Profit from It.”
“We need to do that personal inventory
and learn what we really need and value
most,” Gurney continues. “If we live with
others, we’ve hopefully learned how to set Scan this code
priorities and then plan to realize them. In using a QR
Reader on your
the process, we learn how to communicate smartphone to
and negotiate for a win-win.”
view the full
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the
United States Government. National Credit Union Administration, a U.S. Government Agency.
article.