The National Institutes of Health Federal Credit Union (NIHFCU), which marked 80 years of continued service this year, announced their new multiple common bond charter. NIHFCU’s new charter allows it to continue serving the financial needs of the area’s healthcare and biomedical professionals while expanding membership eligibility to those outside of these industries and local region.
“We are proud of our healthcare and biomedical roots and our brand position, and our marketing focus will remain on the professionals within these industries we know so well,” stated Rick Wieczorek, NIHFCU’s President & CEO. “With our new charter, we can now serve more of these dedicated individuals, during the current pandemic and into the future, but also assist a whole new group of potential members, as we bring our Banking With Heart mission beyond the healthcare and biomedical industries.”
To support the new charter, NIHFCU has invested heavily in new financial technologies (Fintech). Jesse Boyer, NIHFCU’s EVP/Chief Operating Officer noted, “Our transformation to a mobile-first institution has positioned us well for long-term growth fueled by the new charter.” Boyer continued, “We have already on-boarded several world-class digital banking delivery channels that are second to none and have others planned for the remainder of the year including remote video banking, online chat, and industry-leading person to person payments. Meanwhile, our retail branching staff remains committed to delivering exceptional service for in-person banking needs.”
Also aiding NIHFCU’s expanded charter is a burgeoning demand for commercial and small business loans both within and outside of the healthcare sector. Frank Amantia, SVP/Chief Lending Officer said, “Our highly trained and experienced Business Lending Team has been lending to a wide range of businesses for more than 20 years. With SBA lending as a primary focus, new or existing businesses now have a trusted resource that has not been widely available.” Amantia added, “And, coming off our success with the SBA’s Paycheck Protection Program (PPP), which has preserved over 1,000 jobs, we know the demand for our programs is high.”
About NIHFCU
The National Institutes of Health Federal Credit Union (NIHFCU) is a full-service not-for-profit financial co-operative based in Rockville, MD. With assets over $730 million, and its network of branches, ATMs and digital banking systems, the NIHFCU currently serves over 41,000 members, primarily within Washington DC area’s healthcare and biomedical industries. With a range of accounts, affordable loans and other convenient banking solutions, the credit union is dedicated to helping its members achieve their financial goals for themselves and their families. For more information on the NIHFCU, including how to become a member or an NIHFCU@Work affiliated partner, visit www.nihfcu.org.
