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Welcome to the NIHFCU, the nation’s largest credit union serving the biomedical industry.

Since 1940, we’ve had a history of service that has helped thousands of our members achieve a better quality of life through financial independence.

Is the NIHFCU really different than a bank?

Yes, the NIHFCU is quite different than a bank.  While, at first look, it appears we offer similar loan options and banking products as other types of financial institutions, we typically do so with better rates and lower fees. That means more of your money stays right where it belongs – with you.

Credit union members like knowing that their savings will go back into the community and help other members get mortgages to buy homes, afford a new car, and get other support they may need to look ahead, prepare today and enjoy tomorrow. 

 Here are just a few of the significant ways credit unions differ from banks.

Credit Unions Banks
Organization Not-for-Profit cooperative For-profit corporation
Primary objective Meet member/owner needs Satisfy shareholders
Social purpose People helping people Maximize profits for shareholders
Ownership All members who are, by definition, users of the credit union Stockholders who may or may not be customers or users
Board of Directors Volunteers who are also members Paid directors
Decision-making Member controlled; one vote per member (each member/owner has the same power) Only stockholders vote; one vote per share of stock (more stock means more voting power)
Distribution of net income Dividends issued to members (account holders) Dividends issued to stockholders only
Community links Owners/leaders reside or have interest in the community Owners/leaders and headquarters could be anywhere in the world
Fees Typically fewer and lower than bank fees Fees account for a significant portion of a bank's total profits
Rates/products Offer better overall rates and lower fees due to the nature of the organization and its dividend distribution Rates and fees may not be favorable due to the for-profit status of banks
Who Benefits You, the member/owner Anonymous stockholders

We encourage you to use your NIHFCU membership to the fullest.  Whether your financial needs are immediate, in the coming months or further into the future, we will always be ready to serve you. 

Remember, you can remain an NIHFCU member for life - even if you retire, move out of the area or subsequently work in a non-medical/healthcare field.   Plus, you can also invite your immediate family to join the NIHFCU so they too can enjoy the many time and money-saving benefits of membership.