Where can a borrower obtain an Employee Retirement System loan?

A borrower can obtain an Employee Retirement System loan from a participating local lender because these lenders are typically authorized to facilitate loans backed by retirement funds, such as those from an Employee Retirement System (ERS). Participating lenders often have established agreements with the ERS and are familiar with the specific processes, qualifications, and regulations pertaining to these types of loans.

In this context, options like the Employee Credit Union may seem relevant, but not all credit unions may offer these types of specialized loans. The Federal Deposit Insurance Corporation (FDIC) primarily provides insurance for deposits, not loans, and therefore is not a source for ERS loans. Similarly, while the Hawaii State Bank is a bank, it is not specifically designated for employee retirement loans and may not participate in the ERS lending program.

In summary, the correct option reflects the nature of how ERS loans are provided through authorized and trained local lenders who can assist borrowers with the nuances of these financial products.