Eric Nystrom, president/CEO of My Healthcare Federal Credit Union based in Gainesville, Fla., announced the financial institution has been granted a Trades, Industries and Practices (TIP) charter to serve any employee throughout the state of Florida who works in the healthcare field. The new charter, approved by the National Credit Union Association (NCUA) on Sept 30, 2019, expands the credit union’s potential field of membership from 16,000 to more than 500,000.
My Healthcare FCU most recently served employees of 27 Select Employee Groups (SEG) predominantly in Florida with most members located in the Gainesville, Fla., area, including employees of UF Health/Shands and North Florida Regional Medical Center, a Hospital Corporation of America (HCA) hospital. Outside of the Gainesville area, the credit union primarily served current and former HCA hospitals including two facilities in northern Virginia.
The new boundaries will allow the credit union to take a carefully considered approach to reaching out to potential members while still including HCA hospitals throughout the state. With two branches in Gainesville, My Healthcare FCU has no immediate plans to open new locations.
The credit union offers a wide range of electronic services, including a user-friendly mobile app with remote deposit check capture, on-line loan applications and a 24/7 automated telephone teller. My Healthcare FCU also participates in the CO-OP shared branch network which allows members to bank at over 300 locations throughout the state of Florida and 5,500+ locations nationwide. The credit union continues to implement new electronic platforms with on-line account opening and Zelle to be offered in 2020.
“We believe one of our primary strengths is in our singular focus on serving employees in the healthcare field,” said Nystrom. “In order to grow and remain viable, we sought a TIP Charter through the NCUA. Our plan with the expanded field of membership is to grow strategically, beginning in the greater Gainesville/Ocala/Lake City areas and working concentrically outward.”
“Due to our specific field of membership, we feel we understand many of the challenges that healthcare employees go through and are very flexible in our ability to deal with each member on a one-to-one basis,” Nystrom said. “As a very well capitalized credit union, we are well positioned to offer very competitive savings rates and our secured (new and used car, RV and Boat) loan rates are among the best in the state. We also are one of the few credit unions that offer the same rates on both new AND used vehicles.”
Eric Nystrom.