Dan Terada, currently EVP of Pearl Hawaii Federal Credit Union, will take the helm from retiring President and CEO Neal Takase, the credit union announced Monday.
Takase has been president and CEO of Pearl Hawaii FCU since November 1993. His last day at the credit union was Friday, June 28, and Terada started in his new position on July 1.
With $377 million in assets, Pearl Hawaii is Oahu’s largest credit union.
According to the credit union, Terada has nearly 17 years’ experience in the financial services industry, along with stints working for the State of Hawaii and Aloha Airlines. Terada first came to Pearl Hawaii FCU in 2013 and has served as its IT manager, vice president of operations/IT and executive vice president.
“Dan has a wealth of experience that is crucial to our continued success. We are confident the future of the credit union will be innovative and secure,” Gordon Sam, chairman of the CU’s board of directors, said in a statement.
Sam also commended Takase. “On behalf of the board, I want to thank Neal for his leadership and his service to Pearl Hawaii for the last 25 years. We wish him a joyful retirement.”
Terada holds a bachelor of business administration with a major in management information systems from the University of Hawaii. He is an honors graduate of Western CUNA Management School and is a past president of the 50th State Judo Association.
“It is an honor to have been chosen to lead Pearl Hawaii Federal Credit Union,” he said. “Pearl Hawaii has a rich history and I hope to continue its legacy and make it an even greater resource to the membership and the community.”
In its most recent call report, Pearl Hawaii FCU reported $433,888 in net income during the first quarter of this year, down 27% from the $594,374 it earned during Q1 2018. As of March 31, 2019, its net worth ratio was 10.32% (“well capitalized”).
This story was updated at 4:00 P.M. on July 2, 2019.
