ORLANDO, Fla.-NCUA has approved Central Florida Healthcare Federal Credit Union for a TIP-Trade, Industry or Profession-common bond. CFHCFCU, with 12,000 members and $50 million in assets, is the first health care industry credit union in the nation to be granted a TIP charter and only the second TIP to be approved. NW Preferred was the first approved in late October. Persons who work in the medical profession in five central Florida counties, including Orange, Osceola, Seminole, Volusia and Lake, are now eligible to join the credit union. "This innovative approach by NCUA for providing financial services is the turning point for success in the future for credit unions like ours," CFHCFCU's CEO Trudy Prince said. "This expansion of our field of membership opens up opportunities we were not seeing with SEG development. Our board has remained committed to serving the needs of the medical community, and now we can do that on a much broader basis. This is a very exciting time for our credit union." CFHCFCU was originally chartered in 1955 by NCUA to serve employees of Orange Memorial Hospital, now Orlando Regional Medical Center.
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From the November-12, 2003 issue of Credit Union Times Magazine • Subscribe!
Central Florida HealthCare FCU Granted TIP Charter; Only Second So Far
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