On February 21, 1950, Connie Enright fulfilled his dream. Along with six fellow co-workers, he prepared a charter certificate to form a credit union and submitted it for approval to the National Credit Union Administration, the federal agency that regulates federal credit unions
On March 24, 1950, the Grace New Haven Hospital Employees Federal Credit Union was officially formed. The first volunteer Board of Directors was soon formed to include Connie Enright, John Mantz, Mary Jane Bossa, Mabel Martin, Helen McKeon, Raymond Brown, and Mary DeCrosta. Located in the Winchester basement of the hospital, the credit union opened its doors for business under Connie Enright's management.
Over the years the name of the credit union changed; first to Yale New Haven Hospital Employees Federal Credit Union, and finally to Yale New Haven Healthcare Federal Credit Union. This last name was formed to reflect the many healthcare facilities and organizations affiliated with Yale New Haven Hospital that now form our field of membership. In 1993, the credit union opened its doors further to include family and household members of the membership.
Today, more than a half-century later, the credit union has grown from a handful of members in the early days to more than 6,000 members, offering financial products and services that Connie Enright and the original Board of Directors could only dream of.
Our Mission is to provide quality and secure financial services to our members through cooperative efforts between members, volunteers, and staff.
Why Choose a Credit Union for your Financial Needs?
The need for choice is what gave birth to the credit union movement as a not-for-profit, cooperative alternative to for-profit, investor-owned banks. Better rates, lower fees, member ownership, and the best personal service in the financial industry are precisely the reasons people choose a credit union.
Whether it is opening that first account for a child, arranging financing on a used car, or holding a seminar on improving credit scores, credit unions play an important role in changing lives.
Throughout their history, and never more so than when times are hard, credit unions continue to demonstrate why they are the best financial choice for consumers. While others have retrenched, credit unions have remained engaged, providing a locally based, cooperatively owned means of economic betterment to more than 92 million people here in the United States and 186 million worldwide.
Let's spread the credit union idea to those who are yet unfamiliar with our philosophy and benefits so that they may discover what millions already know:
When you are a member, it really is your credit union!