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Credit union chief to retire

Peter Leong, chief executive officer and president of the Hawaii State Federal Credit Union, will retire next month. He took the helm of the state's largest credit union nearly a decade ago.

Before joining HSFCU in 1992, Leong was president of the Hawaii Credit Union. He later also served as a board member.

A search for a replacement to lead the 51,000-member nonprofit cooperative is under way.

First Hawaiian completes deal

First Hawaiian Bank said yesterday that it has completed its acquisition of Union Bank of California's branch network in Guam and Saipan, along with associated loan and deposit accounts.

First Hawaiian assumed branch deposits of about $200 million and also bought various loans from the branches. First Hawaiian will begin processing merchant credit card transactions for Union Bank of California business customers in Guam and Saipan.