News Releases – October 18, 2018



Finance Factors promotes Hodnefield and Choo

Image of Eric Hodnefield
Eric Hodnefield
  Image of Benson Choo
Benson Choo
 

Finance Factors, Hawaii's largest locally-owned depository financial services loan company, announced today that two top employees, Eric Hodnefield and Benson Choo, have been promoted. Eric Hodnefield has been promoted to executive vice president of residential loans. Benson Choo has been promoted to executive vice president and chief information officer.

Hodnefield joined Finance Factors as a management trainee in 1987, and held various positions through 2000, when he left the company. He returned in 2006 and has been with the Finance Factors for a total of 25 years. He has held a number of critical positions, including branch manager, vice president and regional manager, senior vice president and residential sales manager. In his new role, Eric is responsible for managing residential loans. His responsibilities have expanded to include oversight of processing, underwriting and loan administration. Outside of his professional engagements, Hodnefield is a board member of the Mortgage Bankers Association of Hawaii and previously served as president for the organization.

"Under Eric's leadership, Finance Factors has made significant strides in the realtor and mortgage broker markets, as well as created operational efficiencies in loan origination," said Steven Teruya, president at Finance Factors. "Benson's expertise in IT risk management and his depth of knowledge in the latest security systems is vital to our organization. Eric and Benson are valuable additions to our executive team, and we look forward to working with them in their new capacities."

Choo joined Finance Factors in 2003 as an information protection manager. He was promoted several times within the organization during his 15 year tenure. His previous positions include assistant vice president and vice president of information protection, vice president and senior vice president of Information Systems and Technology. Benson and his team continuously work to modernize the Finance Factors' technology infrastructure, ensuring the company has the latest software, systems and cybersecurity controls.

Outside of work, Choo is involved with several community service and outreach commitments. He serves as executive vice president of the Hawaii Chapter of the National Association of Asian American Professionals, treasurer of the CIO Council of Hawaii and participates in the Aloha United Way Financial Review Committee. He is a member of the Project Management Institute, the Information Systems Audit and Control Association, the Information Systems Security Systems, and Infragard.

About Finance Factors
Finance Factors has been providing financial services in Hawaii for more than 65 years. Started in 1952 by several island families, the company has grown from a small local enterprise that pioneered personal loans for Hawaii's people, into Hawaii's largest locally-owned depository financial services loan company. Finance Factors (NMLS #449916) specializes in residential and commercial real estate loans. Finance Factors also offers some of the best rates on certificates of deposit and savings accounts, with deposits insured by the FDIC.