Credit unions rank in Forbes Best-in-State list

Posted by Laurie Okawa-Moore
on "June 29, 2018 12:38 pm"

Three Hawaii credit unions were ranked in the recent Forbes Best-In-State Banks and Credit Unions list. HFS Federal Credit Union was named Hawaii’s best credit union, with a score of 92.29, and was followed by Hawaiian Tel Federal Credit Union (88.51) and HawaiiUSA Federal Credit Union (82.05).

Bank of Hawaii took the top spot on Forbes’ list and was followed by Central Pacific Bank and American Savings Bank, which scored 75.83 and 74.84, respectively. The list was published on June 28.

Forbes partnered with Statista, which surveyed more than 25,000 customers in the United States for opinions on current and former banking relationships.

“The banks and credit unions were rated on overall recommendations and satisfaction, as well as five subdimensions (trust, terms and conditions, branch services, digital services and financial advice),” Forbes said.

Forbes said it excluded nationwide banks like Bank of America, Wells Fargo and Chase Bank, which have branches in at least 15 U.S. states. Navy Federal Credit Union, which has a presence in 30 states, was the only credit union eliminated for its reach.