Jun, 30, 2023 — NEW HORIZON FEDERAL CREDIT UNION is a federal credit union headquartered in BARBERTON, OH with 4 branch locations and about $34.02 million in total assets. Opened 88 years ago in 1935, NEW HORIZON FEDERAL CREDIT UNION has about 2,725 members and employs 16 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 HORIZON FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 180 2nd St SW BARBERTON, OH 44203 |
| Phone: | (330) 745-8897 |
| Fax: | (330) 745-8055 |
| Website: | https://www.newhorizonfcu.com |
| Branches: | 4 branch locations |
| Members: | 2,725 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 616 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $34,016,912 |
| CEO/Manager: | Michael T Heidenreich |
| Chairperson: | Mike Thomas |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,017,750 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 13,289,702 |
| Unsecured Loans | 3,086,515 |
| Other Loans | 9,237,181 |
| TOTAL LOANS | 25,613,398 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -369,914 |
| Land And Building | 181,057 |
| Other Fixed Assets | 148,589 |
| NCUSIF Deposit | 239,170 |
| All Other Assets | 0 |
| TOTAL ASSETS | 34,016,912 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 838,353 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,466,477 |
| Regular shares | 18,286,692 |
| All Other Shares & Deposits | 7,773,187 |
| TOTAL SHARES & DEPOSITS | 29,526,356 |
| TOTAL LIABILITIES | 30,364,709 |
| Regular Reserve | 0 |
| Other Reserves | 425,829 |
| Undivided Earnings | 3,226,374 |
| TOTAL EQUITY | 3,652,203 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 34,016,912 |
| INCOME & EXPENSE | |
| Loan Income | 826,504 |
| Investment Income | 72,764 |
| Other Income | 162,879 |
| Total Employee Compensation & Benefits | 478,705 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 559,094 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 8,949 |
| Cost of Funds | 50,425 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 134,401 |
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