Aloha Pacific FCU To Acquire Media Hawaii FCU
HONOLULU – Fast-growing Aloha Pacific FCU has agreed to merge into it $15 million Media Hawaii FCU.
Aloha Pacific, the state’s third-largest credit union, grew by 10% last year to $724 million.
Hawaii Media FCU was chartered in 1937 to serve employees of the Honolulu Star Bulletin newspaper and has reported losses in each of the last two years, a loss of $110,000 for 2009 and a loss of $99,000 for 2010, but retained strong net worth of 11% at year-end 2010. Aloha Pacific has offered jobs to the credit union’s three employees.