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NEW HORIZONS CREDIT UNION

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.


ABA Routing Number: 265176339
Name:NEW HORIZONS CREDIT UNION
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
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

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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