Hawaiian Tel Federal Credit Union is remembering its former president/CEO Buddy Asato as an icon and pioneer who advanced the credit union movement in the Aloha state.
Asato, 85, passed away on November 28. Private funeral services were held Jan. 6.
His accomplishments include authoring the Hawaiian credit union law, which paved the way for state-chartered credit unions. He also started the first checking account and ATM systems for credit unions with Bank of Hawaii, developed the first open-ended lending system to the state and introduced Payment Systems for Credit Union in the state, according to HTCCU.
During his 14 years as president/CEO of HTFCU, it became the largest sponsored-based cooperative in Hawaii.
Asato launched his career in the credit union industry more than three decades ago when he worked as an NCUA examiner for 11 years. He left the agency to serve as an assistant general manager for the Hawaii Credit Union League for one year and was then appointed president/CEO of the $1.4 billion Hawaii State Federal Credit Union in Honolulu.
