LIHUE, Kauai–Monica Belz, CEO of Kauai Government Employees FCU, has been recognized by Pacific Edge Magazine’s 2020 Business Achievement Awards as Hawaii’s Business Executive of the Year.
Belz has led KGEFCU for three years, navigating local businesses through the floods on Kauai in 2018 (featured in CUToday.info here) and now steering the community through a pandemic.
“On Kauai, she shapes a dynamic island vision for economic growth grounded in sustainability and social entrepreneurship,” the credit union said.
KGEFCU said Belz has been living social entrepreneurship since her teens.
“A mother of three, she surfs, snowboards and rock climbs and her beliefs embody a generation of Millennials who value diversity, equity and inclusion,” the credit union said. “She is deeply invested in KGEFCU’s mantra ‘from Kauai, for Kauai,’ and dedicated to serving those who teach, protect and care for the people of Kauai.”
“Supporting the local community is our first priority,” said Belz. “Some are sixth-generation farmers, others are businesses that have cautiously rebuilt from the floods only to be hit hard by the economic reality of this pandemic.”
Small Island, Big Impact
According to the credit union, Belz is delivering a big impact on a small island. In partnership with community and charitable organizations and federal funding agencies, the $140-million credit union has delivered more than $8 million dollars in aid since March in the form of rent relief, emergency response loans, business boost programs and start up investments, such as the Common Ground Incubator Program.
According to KGEFCU, the credit union story on Kauai is more than a small island survival story. KGEFCU said it is the first and only credit union on the island of Kauai and fourth in the State of Hawaii to pursue a lifeline of mission driven CDFI funding from the U.S. Treasury.
“We are building a new market of borrowers, recirculating money to the local economy,” said Belz. “This investment not only puts food on the table, it supports diversification and scalable innovation. Every dollar matters.”
A Hawaiian Tradition
Belz said KGEFCU’s mission is much like that of the Hawaiian Hukilau tradition, with the credit union at the center of a community of pioneers who pool local resources to create impact and economic growth for the people of the island.
According to the credit union, KGEFCU employees echo Belz’s passion.
“Strengthening the social fabric of our community is our mission—it drives me and this team every single day,” said Chantal Zarbaugh, KGEFCU’s business development officer.