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NIH Federal Credit Union expands charter

The Rockville-based National Institutes of Health Federal Credit Union (NIHFCU), which marked 80 years of continued service this year, announced Thursday its new multiple common bond charter to allow it to continue serving the financial needs of the area’s health care and biomedical professionals while expanding membership eligibility to those outside of these industries and local region.

To support the new charter, NIHFCU has invested heavily in new financial technologies (Fintech).

Also aiding NIHFCU’s expanded charter is a burgeoning demand for commercial and small business loans both within and outside of the health care sector.

NIHFCU is a full-service not-for-profit financial co-operative with assets of more than $730 million and its network of branches, ATMs and digital banking systems, the NIHFCU currently serves more than 41,000 members, primarily within the Washington area’s health care 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.

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