Bothwell Hospital Employees Credit Union was founded in 1972 by Mike Matchael with a mission to help healthcare workers save money and access affordable loans. As a democratically operated, not-for-profit financial cooperative, it has served the health care industry supporting Bothwell Regional Health Center in Sedalia, Missouri for over 50 years. The organization is governed by a volunteer board of directors and supervisory board elected by members.
The credit union offers a comprehensive range of financial products including multiple savings account types (regular savings, money market, Christmas Club, Education Savings, Emergency Fund), share certificates, VISA cards, debit cards, and various loan products (vehicle, signature, secured, and student loans). They provide mortgage services, retirement planning options (IRA, 401(k), TSA, UGMA), investment services including 529 college savings plans, and insurance products covering vehicle, home, life, and health coverage. Additional services include credit counseling, free credit reports, tax preparation, mobile and online banking, and travel discounts.
What distinguishes Bothwell Hospital Employees Credit Union is its specialized field of membership focused exclusively on healthcare professionals and their families. Eligibility extends to physicians, healthcare professionals, nursing facility employees, hospice workers, in-home care providers, ambulance service staff, medical and dental students, pharmacy workers, and their immediate families. This niche focus allows them to tailor products specifically to the needs and financial situations of healthcare workers. The organization maintains a small, local operation with just two full-time staff members and volunteer leadership, keeping overhead low.
The primary limitation is geographic and membership restriction—this is a small, local credit union serving only those with eligibility ties to Bothwell Regional Health Center and the Sedalia, Missouri community. Members should have a connection to the healthcare industry or be family of someone who does. The limited staff and volunteer model means fewer resources for product development compared to larger financial institutions, though this also translates to lower costs for members through competitive rates.