A corporation offering monetary companies, together with financial savings accounts, loans, and different banking merchandise, operates underneath a cooperative construction, serving people primarily affiliated with a healthcare system in Broward County. Membership is often restricted to staff, retirees, and relations of Broward Well being and affiliated organizations. This monetary establishment capabilities as a not-for-profit entity, owned and managed by its members, contrasting with shareholder-owned banks.
The benefits of belonging to such an establishment usually embody extra favorable rates of interest on loans and financial savings, decrease charges, and a dedication to serving the monetary well-being of its members. Its historic context includes the credit score union motion, emphasizing member-owned monetary cooperatives to advertise thrift and supply entry to credit score, particularly to these underserved by conventional banks. Its significance stems from offering focused monetary options to a particular group, fostering monetary stability and group growth throughout the Broward Well being community.
