Lāna’i Federal Credit Union

What Lāna’i Federal Credit Union does

Lāna'i Federal Credit Union is a federally chartered, NCUA-insured, member-owned cooperative credit union headquartered at 816 Ilima Avenue in Lāna'i City, Hawaii. Founded in 1938 as HAPCO Lāna'i Federal Credit Union to serve employees of the Hawaiian Pineapple Company, it was renamed in 1986 as the island's economy pivoted from pineapple agriculture to hospitality and tourism. Its field of membership is restricted to persons residing, employed, worshiping, or attending school on the island of Lāna'i, plus immediate family members, making it effectively the only on-island retail financial institution serving a population of approximately 3,000. The institution is governed by a volunteer Board of Directors elected by the membership and led by CEO/Manager Charity Figuerres.

The credit union's product portfolio spans three pillars. Deposits include a Share Savings Account ($25 minimum, 0.50% APY, quarterly dividends) and a Simply Free Share Draft Checking Account with no monthly fees and 0.10% APY on balances over $100. Lending products include new and used auto loans (rates from 3.00% to 9.75% APR across four credit-grade tiers, with terms up to 84 months and 100% financing on MSRP/Kelley Blue Book value) and unsecured personal loans ($3,000–$15,000 limits, 7.00%–17.00% APR) alongside 100% share-secured loans at 5.00%–6.50% APR. Optional Debt Protection is offered through a TruStage partnership. Convenience services include CUMONEY Visa gift and reloadable debit cards, a CUDL Autosmart car-buying service, free Banzai financial literacy courses, online financial calculators, and free notary services.

The technology stack is a conventional credit union core banking platform with an online banking portal hosted at cue-branch.com/lanaifcu and native iOS and Android mobile apps supporting card on/off functionality and fraud alerts. Distribution is omnichannel but small-scale: a single branch open Monday–Friday 8:30 a.m. to 4:30 p.m., supported by ATM access through First Hawaiian Bank's network and a Squarespace-hosted marketing website powered by OMNICOMMANDER. Revenue is generated primarily from net interest spread on loans versus share deposits (0.50% APY on savings, 0.10% APY on checking), supplemented by transaction fees on gift/debit cards and insurance/ancillary revenue from the TruStage debt protection partnership. The credit union reinvests all earnings into member benefits rather than returning capital to external shareholders, consistent with its not-for-profit cooperative structure.

Name

Lāna’i Federal Credit Union

Legal name

Lāna'i Federal Credit Union

Website

https://lanaifcu.org

Company type

Private

Founded year

1938

Operating status

Operating

Headcount range

11–50 employees

Short description

Lāna'i Federal Credit Union is a federally chartered, member-owned cooperative credit union serving residents of the island of Lāna'i, Hawaii, offering deposit accounts, auto and personal loans, and community financial education since 1938.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Retail banking services
• Consumer lending products
• Share savings accounts
• Auto loan financing
• Member-owned cooperative

Headquarters

HQ city

Lanai City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income on Loans: Primary revenue stream from interest charged on auto loans, personal loans, and other credit products. Rates vary by credit grade (Platinum, Preferred, Standard, Credit Builder) and loan term.
2. Share Deposits: Members deposit savings into share accounts. The credit union uses these deposits to fund loans. Interest is paid on deposits (0.50% APY on regular shares) while higher rates are earned on loans.
3. Checking Account Interest Spread: Share draft (checking) accounts earn 0.10% APY on balances of $100 or more. The credit union earns the spread between this rate and loan interest rates.
4. Card Services Revenue: Revenue from gift cards and reloadable debit cards through CUMONEY Visa partnership. Non-reloadable gift cards are instantly issued at the credit union.
5. Debt Protection Products: Optional Debt Protection and Life Plus products that may cancel or reduce loan balances in case of unemployment, disability, or death. Offered through TruStage partnership.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Lāna'i Federal Credit Union is a federally chartered, member-owned not-for-profit credit union serving residents of the island of Lāna'i, Hawaii. It offers deposit products (share savings and share draft checking accounts), consumer loans (new and used auto loans, unsecured personal loans, and 100% shared-secured loans), and ancillary services including Visa gift cards, reloadable debit cards, a car buying service, notary services, and free financial literacy programs. All earnings are returned to members through competitive rates and reduced fees.

Product overview

Lāna'i Federal Credit Union offers a comprehensive suite of traditional banking products and services centered on its core member-owned, not-for-profit structure. The product portfolio is organized around three main pillars: deposit products (Share Savings Account, Simply Free Share Draft/Checking Account), lending products (Auto Loans, Personal Loans including both unsecured and secured variants, Debt Protection), and convenience services (Gift Cards, Reloadable Debit Cards, Car Buying Service via CUDL Autosmart, Financial Education through Banzai, Financial Calculators, Notary Services, and Online/Mobile Banking). The credit union serves the island community of Lāna'i with a focus on personalized service and member financial wellness.

Differentiator

Problem solved

Functional benefit

Products and services

• Share Savings Account Primary savings account that establishes credit union membership; requires a minimum deposit of $25 and earns 0.50% APY with dividends paid quarterly on the daily average balance. Targeted at Lāna'i residents and family members.
• Simply Free Share Draft Checking Account

Quantifiable outcome

• Share savings account earns 0.50% APY (compared to national average of approximately 0.45% for regular savings)
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and standard.

• CUDL AutosmartcoreTechnology or IntegrationLāna'i FCU partnered with CUDL Autosmart to provide members with an online auto research and buying tool. Members can search any make or model from home and access financing through the credit union. This exclusive member benefit is free and enables seamless vehicle purchasing.
• BanzaicoreStrategic or Co-development PartnerFree financial literacy program brought to members and the community. Banzai provides courses for three age groups: Junior (ages 8-12), Teens (ages 13-18), and Plus for adults. Includes real-world scenarios, articles, and calculators. Also offers Financial Wellness Assessment for personalized financial health scores.
• TruStagestandardChannel Partner/ Reseller/ DistributorTruStage provides Debt Protection and Life Plus products offered to members. Debt Protection may cancel or reduce loan balances in case of involuntary unemployment, disability, or death. Life Plus extends protection to additional circumstances including accidental dismemberment, terminal illness, hospitalization, and family medical leave.
• First Hawaiian BankstandardTechnology or IntegrationFirst Hawaiian Bank ATM network provides free cash withdrawals for Lāna'i FCU debit card holders. Members can access their accounts at any First Hawaiian Bank ATM without fees.
• CUMONEYstandardTechnology or IntegrationCUMONEY provides Visa gift cards and reloadable debit cards for members. Non-reloadable gift cards are instantly issued at the credit union for celebrations, birthdays, and other occasions. Reloadable Everyday Spend cards are personalized with member names.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Regional players

• Hawaii State Federal Credit Union: Hawaii's largest credit union serving state employees and their families across the Hawaiian Islands. Comparable as a Hawaii-based credit union with similar deposit and lending products, though far larger and serving a broader geographic and employment-based field of membership.
• Allied Federal Credit Union: One of the largest credit unions in Hawaii serving statewide membership with full-service banking. Comparable as a Hawaii-based credit union offering similar deposit and lending products, though significantly larger and with a broader employer-based FOM.
• Hawaii Community Federal Credit Union: Serves Hawai'i Island with a focus on community-based banking including savings, checking, and auto loans. Comparable as a Hawaii-based community credit union with similar products and member-owned cooperative model.

Broad incumbents

• First Hawaiian Bank: Hawaii's largest financial institution, providing Lāna'i FCU members with free ATM access. A broad incumbent offering commercial and consumer banking across the Hawaiian Islands, including the Lāna'i market indirectly through its ATM network.
• Bank of Hawaii: Major Hawaii-based financial institution offering consumer and commercial banking across the state. While it does not operate a branch on Lāna'i, it is a broad incumbent competitor for banking services used by island residents and businesses.

Direct peers

• Kauai Community Federal Credit Union: Serves the island of Kaua'i with deposit accounts, auto loans, and personal loans through a community credit union model. Closest direct peer in terms of being a small, federally chartered, island-based credit union with a similar geographic FOM structure.
• Hawaiian Electric Federal Credit Union: Originally served Hawaiian Electric employees, now community-chartered, serving residents of O'ahu. Comparable as a small Hawaii-based credit union with traditional share savings, checking, and lending products, and a similar member-owned cooperative heritage.
• Maui Federal Credit Union: Valley Isle Community FCU serves Maui County with similar deposit, auto loan, and personal loan products. Directly comparable as a small island-based credit union with a community-focused, member-owned model and similar federal charter.
• Prince Kuhio Federal Credit Union: Hilo-based community credit union serving Hawai'i Island residents with deposit accounts, auto loans, and personal loans. Comparable as a small, community-focused Hawaii credit union with similar product mix and member-owned structure.

Others

• CUNA Mutual Group (TruStage parent): Industry partner/provider of debt protection and insurance products through the TruStage brand that Lāna'i FCU resells. Included as an ecosystem participant rather than a competitor, given the credit union's reliance on TruStage for non-lending revenue.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/lanaifcu
• Instagraminstagram.com/lanaifcu
• LinkedInlinkedin.com/company/lanai-federal-credit-union

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lāna’i Federal Credit Union