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CU System
Aloha FCU offers help for closed airlines employees
HONOLULU (4/7/08)--Aloha Airlines FCU is not affected by the shutdown of Aloha Airlines Inc. and will continue to operate with special assistance for impacted employee-members, according to a message to members on its website. The $30.6 million asset credit union's board has approved an initial $100,000 to provide assistance to help members and their families "handle the difficult situations ahead," the credit union said. Members affected by the shutdown are eligible to receive free financial planning advice, and pre-approvals granted by the credit union before the airlines announced it was closing will still stand for 90 days for personal loans, vehicle loans, lines of credit or Visa credit cards. The credit union's Member Assistance Program includes crisis loan options to provide immediate cash relief. Members can choose from:
* Loan payment deferrals, where the member pays only interest on the loan, for any personal, vehicle or share-secured loan; or * Lifting of penalties for withdrawals on all or part of certificate share accounts or Christmas Club savings.
Aloha Airlines FCU said it will decide whether to change its name later--after "taking into account any changes in the next few days or weeks the airline makes about the remaining portions of the airlines. At that time, we will formulate any appropriate future plans, including a change to our name, logo or focus." The airlines shut down its inter-island and transpacific passenger flight operations as of March 31. Its air cargo and aviation service units continued to operate while the U.S. Bankruptcy Court sought bids from potential buyers. Saltchuk Resources Ind. announced its intention to buy the air cargo business, said Aloha Airlines' announcement of the shutdown. The shutdown of the passenger operations affects about 1,900 employees. The credit union has more than 4,595 members.
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