Hawaiian Bank, CU In ATM Partnership
University of Hawaii Federal Credit Union and First Hawaiian Bank have formed a partnership to deploy co-managed automated teller machines on community college campuses in the University of Hawaii system.
According to John Kaneshiro, chief financial officer for UHFCU, the two parties recently finalized the schedule for the first deployment in mid-September. "The ATMs will have our signage as well as signage from First Hawaiian Bank," he said. "Customers from both can use their ATM cards with no fee."
The full deployment of seven co-managed ATMs is expected to be in place by the end of the year, he added.
As part of the agreement, earlier this summer UHFCU members were allowed to use their "Pepa Kiko'o" (Hawaiian for "paperless check") check cards at any First Hawaiian Bank ATM in the state with no surcharge.
"We will be paying for it in operational expenses in deploying and managing the ATMs, but our members are happy because they can get their money with no charge," he said. "All in all, we feel pretty good about the agreement."
First Hawaiian Bank and UHFCU long have enjoyed a good working agreement, Kaneshiro said. The CU's teller's checks and other official checks are drawn on First Hawaiian Bank, and FHB does UHFCU's electronic state and federal tax filings.
Asked how his CU gets along so well with a bank, Kaneshiro quipped, "When you are on an island with someone else, you don't want to make enemies."