Pearl Hawaii FCU

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We are banking, but with oomph

PHFCU is rewriting the script in the financial services industry. The truth is, the next time you visit your nearest branch, you might just stumble upon some extremely happy members. Cashing a check or making a loan payment has never been so entertaining.

HISTORY Established in 1937… Yes, 80 years of service! Pearl Hawaii Federal Credit Union (PHFCU) is a not-for-profit, financial cooperative. PHFCU has built a solid foundation to provide affordable financial services, financial products, technical assistance, and educational resources to current members as well as to all who reside on the island of O’ahu.

Pearl Hawaii Federal Credit Union specializes in financial services to help you!

  • Mortgages (Fixed interest rates, fixed monthly payments)
  • Home Equity Lines of Credit (HELOCS) with Fixed Rate Options
  • New & Used Auto Loans
  • Low rate, no Annual Fee Credit Cards (With Rewards that include airline travel and cash back!)
  • Free Checking Accounts
  • Financial Management
  • Wealth Management
  • Investments
  • Retirement Service
  • Insurance (Life, Long Term Care, Disability, Term Life, Whole Life)
  • Education Planning
  • Personal Loans
  • Debt Consolidation
  • Tax Loans
  • Plus more!


WHO CAN JOIN? Everyone can join! All you need is $1.00* and a dream (and happen to meet one of the criteria below).

  • live, work, worship, or attend school on O’ahu.
  • be a family member of someone who lives, works, worships, or attends school on O’ahu (i.e., spouse, child, parent, grandparent, grandchild, sibling, or even related through a step, adoptive, or foster relationship).
  • be a household member of someone who lives, works, worships, or attends school on O’ahu (For example, your son attends school on Oahu but you live on another island or in another state- you still can join!).

*Membership is a $5 minimum deposit into a Savings Account (waived with e-statements) and a $1 lifetime membership fee.
Meet the Team- Click Here

  1. Before you borrow a large sum of money- Check your credit score!

Having a good credit score puts you in a position to attract the best deal on your home loan. So it’s a good idea to obtain a copy of your credit report before starting the home buying process. You will see what your credit profile looks like to potential lenders and can then take steps to improve your credit score if necessary. You can receive one free copy of your credit report each year from each of the three major credit reporting agencies by visiting

  1. When applying for any loan- you want to Get your financial documents in order

When you apply for a loan, you will need to provide your lender with a number of financial documents. Having these documents already assembled will help accelerate the processing of your loan application. At a minimum, you should be prepared to provide your last two pay stubs, your most recent W-2, your last two years of tax returns, and current bank and brokerage statements.

  1. Learn how to compare offers

All loans are not created equal. Even if a home loan has the same interest rate, there could be differences in the points and fees that make one offer more expensive than another. It’s important to understand all of the components that go into determining the price of your mortgage, so you can accurately compare the offers being made.

  1. Start tracking interest rates and get to know your loan

The interest rate will be one of the biggest factors in determining the cost of your mortgage. Interest rates for mortgages change almost every day and it is helpful to know which way they are heading. Also look at 15 year terms- If you can afford a shorter term, you will save a significant amount of money in the long haul.

  1. Need a loan? Get pre-qualified

For any loan, the pre-qualification process is fairly simple, usually just requiring some financial information such as your income and the amount of savings and investments you have. Once you are pre-qualified, you will have a better sense of how much you can borrow.

  1. Understand the various loan options

Maybe your parents had a 30-year fixed-rate loan. Maybe your best friend has an adjustable-rate loan. That doesn’t mean that either of those loans are the right loan for you. Some people might like the predictability of a fixed-rate loan, while others might prefer the lower initial payments of an adjustable-rate loan. Every home buyer has their own unique financial situation and it’s important to understand which type of loan best suits your needs.

  1. Be prompt in responding to your lender

After you have applied for a loan, it is important to respond promptly to any requests for additional information from your lender and to return your paperwork as quickly as possible. Waiting too long to respond could cause a delay in closing your loan, which could create a problem.


  1. Home equity basics. The term home equity sounds a little complex, but it’s simply the difference between your home’s market value and what you still owe on it. For example, a home that’s worth $800,000 and has a $600,000 mortgage balance has $200,000 in equity.

If you’re a homeowner with a solid credit history and home equity, you may be able to use this equity as collateral to borrow money with benefits such as lower rates and tax advantages.


  1. Home Equity Loans VS. Home Equity Lines Of Credit.

There are two ways to borrow against your equity: Home equity loans immediately advance you a single sum of money and usually require payments over a fixed period at a fixed interest rate. Home equity lines of credit give you the option of borrowing money as you need it, up to the amount your lender approves for you and rates are variable so your payments will fluctuate with changes in interest rates and will vary as your balance changes. Which one is best depends on your needs. If you want the certainty of a fixed interest rate and predictable monthly payments, choose a home equity loan. If you want future flexibility, a home equity line of credit may be the right call.


  1. When Borrowing….

Your first consideration shouldn’t be how much you borrow, but rather why need it. Debt is best used to improve your financial position or to purchase necessities with lasting value. That means you probably shouldn’t use a home equity loan for clothing, vacations, gifts, gadgets and impulse purchases no matter how low your after-tax cost of borrowing. A few potentially wise uses of home equity debt include Debt consolidation, Home Improvement, and Covering College Expenses.

Home improvement. Before you upgrade your kitchen counters or expand your master bathroom, consider the long-term economic value of the project and how long you expect to remain in the home and enjoy the results yourself. Also keep in mind that many homeowners were burned when


  1. Don’t mess up your credit during the loan processing

It’s not uncommon for lenders to pull your credit report a second time to see if anything has changed before your loan closes. Be careful not to do anything that would bring down your credit score while your loan is being processed. So, pay all of your bills on time, don’t apply for any new credit cards, and don’t take out any new car loans until your loan has closed.


  1. Don’t apply for too many loans

When you apply for a loan online, most applicants will leave a “footprint” on your credit record which lenders check before approving a loan. Having lots of applications on your record makes you look desperate or in financial difficulties. As a result lenders will see you as more of a credit risk, so your latest loan application is less likely to be approved.

General Number 808-73-PHFCU (737-4328)
Toll-Free 800-987-5583