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www.HartfordBusiness.com December 12, 2016 • Hartford Business Journal 5 REPORTER'S NOTEBOOK Hartford Healthcare Fed. Credit Union plans CT expansion Hartford Healthcare Federal Credit Union (HHFCU), which has three Greater Hartford branches with $36 million in assets, is looking to grow its statewide footprint after receiving permission from federal regulators to pursue members from across Connecticut. HHFCU recently received permission from the National Credit Union Administra- tion to expand its geographic charter to include the entire state of Connecticut. As a health- care specific credit union, HHFCU's membership is still limited to employ- ees (and their fami- lies) working in the healthcare indus- try, but the charter expansion will allow it to operate beyond its current Hartford, New Haven and Middlesex counties territory. HHFCU President and CEO Carol Bayreuther said "physical expansion of the credit union throughout Connecticut is also under consideration through traditional and network type mergers." The nonprofit cooperative's strategic plan includes opening three to five new branches in the next three years. "I am truly excited about the opportuni- ties this opens up not only for healthcare workers across the state, but also for the continued growth of the credit union itself," Bayreuther said. The HHFCU board of directors officially adopted the charter change in November. The geographic expansion also allows the credit union to build upon existing relation- ships that it has with healthcare companies that have employees throughout Connecticut, said Eric C. Berthel, HHFCU's vice president of strategic outreach. "Because of our prior geographic restric- tions, employees of a statewide healthcare company who were not in a county we were allowed to serve were not able to do business with us. That has all changed now and we look forward to introducing those employees to the benefits of our credit union," said Berthel. HHFCU had 11,361 members at the end of September, NCUA data shows. Connecticut previously had more than 20 healthcare specific credit unions; as of 2016 that number is down to only 10. HHFCU was established in June 1955 as Hartford Hospital Employees Credit Union. During the first three quarters of 2016, the nonprofit cooperative recorded a margin surplus of $249,246, compared to a surplus of $179,696 in the year-ago period, according to NCUA data. – Greg Bordonaro PDS has been meeting the needs of the construction industry since 1965. Our dedicated team of design and construction professionals welcomes the challenge of serving its past and future customers on their most demanding projects. Family Dollar | Wethersfield, Connecticut PDS was selected as Design Build General Contractor to renovate the existing 20,000 square foot building and to construct a 10,000 square foot addition. This retail facility includes a Family Dollar and 5 additional tenant spaces for future businesses. Brick veneer and EIFS was a substantial component to the exterior construction of the building. Project Size: 30,000 SF 107 Old Windsor Road, Bloomfield, CT 06002 (860) 242-8586 | Fax (860) 242-8587 www.pdsec.com DESIGN BUILDERS • GENERAL CONTRACTORS • CONSTRUCTION MANAGERS SPOTLIGHT ON: Retail PDS ENGINEERING & CONSTRUCTION, INC. THINK • PLAN • BUILD BY THE NUMBERS: 11,361 HHFCU's membership count as of September. $249,246 HHFCU's margin surplus through the first three quarters of 2016. 3 The current number of branches HHFCU operates. Hartford HealthCare eyes $16.7M surgery-center stake H a r t f o r d HealthCare is seeking to expand its eastern Con- necticut offerings through a $16.7 mil- lion equity stake in a Waterford oph- thalmology cen- ter, according to state records. The growing health system — which could soon encompass six acute- care hospitals — has asked state regulators permission for 233-bed Backus Hospital to acquire a controlling 51 percent stake in Constitution Surgery Center East LLC. The total capital cost listed in Hartford HealthCare's certificate of need application is $16.7 million. Constitution, an outpatient facility that provides ophthalmology and orthopedic services, is majority-owned by a group of 21 physicians, who all have privi- leges at Backus or other area hospitals. Constitution said the deal would create economies of scale in purchasing, mana- gerial and administrative functions; help with physician recruitment; improve access to capital; and provide its physicians with more opportunities to collaborate and access new technologies through Hartford HealthCare, which performs over 11,000 ophthalmic procedures a year at its Hart- ford Hospital Eye Surgery Center. Hartford HealthCare's board of directors directed Backus in July to proceed with the acquisition. – Matt Pilon Carol Bayreuther, President and CEO, Hartford Healthcare Federal Credit Union (HHFCU) Constitution Surgery Center East Procedure Volume FY 2013 FY 2014 FY 2015 FY 2016 Ophthalmology 4,067 3,823 3,913 4,016 Orthopedic surgery 1,712 1,780 1,919 1,894 Total visits/discharges 5,779 5,603 5,832 5,910 S O U R C E : S T A T E O F F I C E O F H E A L T H C A R E A C C E S S JT GHAMO TAILORS CLOTHIERS TUXEDOS 137 Sisson Ave Hartford, CT 06105 860-233-4666 www.jtghamo.com