Charter expansion expands membership statewide for My Healthcare FCU
My Healthcare Federal Credit Union is expanding its field of membership thanks to an approved charter expansion.
The Gainesville, Fla.-based institution has been granted a Trade, Industry or Profession charter from the National Credit Union Administration to serve those working in health care throughout the state of Florida.
“We believe one of our primary strengths is in our singular focus on serving employees in the health care field,” Eric Nystrom, the credit union’s president and CEO said in a release.
The $24.8 million-asset credit union’s plan is to start growing its membership base in Gainesville, Ocala and Lake City until it graduates to other regions in the Sunshine State. According to the release, the credit union does not plan to open any new branch locations at this time.
Nystrom said My Healthcare sought out the TIP charter was for strategic growth and to “remain viable.”
“Due to our specific field of membership, we feel we understand many of the challenges that health care employees go through and are very flexible in our ability to deal with each member on a one-to-one basis,” Nystrom said in the release.
My Healthcare FCU posted just over $68,400 in net income during the first half of 2019, a 12.7% decline from one year prior.