Dec, 31, 2023 — NEW HORIZONS CREDIT UNION is a federally insured state chartered credit union headquartered in MOBILE, AL with 7 branch locations and about $272.08 million in total assets. Opened 74 years ago in 1950, NEW HORIZONS CREDIT UNION has about 22,587 members and employs 82 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | NEW HORIZONS CREDIT UNION |
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Address: (Main Office) | 622 Azalea Rd MOBILE, AL 36609-1530 |
Phone: | (251) 316-3240 |
Fax: | (251) 665-5323 |
Website: | https://www.newhcu.org |
Branches: | 7 branch locations |
Members: | 22,587 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 60799 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1950 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $272,082,476 |
CEO/Manager: | Edith Franklin |
Chairperson: | Linda J Brown |
ASSETS: | $ Amount |
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Cash & Equivalents | 7,680,555 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 68,861,929 |
Unsecured Loans | 6,971,106 |
Other Loans | 85,617,374 |
TOTAL LOANS | 161,450,409 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -265,126 |
Land And Building | 7,601,258 |
Other Fixed Assets | 3,820,091 |
NCUSIF Deposit | 2,246,292 |
All Other Assets | 0 |
TOTAL ASSETS | 272,082,476 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 25,946,393 |
Accounts Payable & Other Liabilities | -51,475 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 56,481,923 |
Regular shares | 119,330,213 |
All Other Shares & Deposits | 49,459,691 |
TOTAL SHARES & DEPOSITS | 225,271,827 |
TOTAL LIABILITIES | 251,166,745 |
Regular Reserve | 0 |
Other Reserves | -1,093,430 |
Undivided Earnings | 22,009,161 |
TOTAL EQUITY | 20,915,731 |
TOTAL LIABILITIES, SHARES, & EQUITY | 272,082,476 |
INCOME & EXPENSE | |
Loan Income | 6,927,290 |
Investment Income | 1,676,073 |
Other Income | 2,040,059 |
Total Employee Compensation & Benefits | 4,848,648 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 4,728,855 |
Non-operating Income & (Expense) | 10,063 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 153,695 |
Cost of Funds | 1,561,180 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,408,949 |
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