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NEW HORIZON FEDERAL CREDIT UNION

Sep, 30, 2021 — NEW HORIZON FEDERAL CREDIT UNION is a federal credit union headquartered in BARBERTON, OH with 2 branch locations and about $28.73 million in total assets. Opened 86 years ago in 1935, NEW HORIZON FEDERAL CREDIT UNION has about 2,612 members and employs 14 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:http://www.newhorizonfcu.com
Branches:2 branch locations
Members:2,612
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$28,733,780
CEO/Manager:Michael T Heidenreich
Chairperson:Mike Thomas

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,943,049
TOTAL INVESTMENTS 3,008,794
Loans Held for Sale 0
 
 Real Estate Loans 10,867,297
 Unsecured Loans 2,194,868
 Other Loans 7,671,333
 TOTAL LOANS 20,733,498
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -157,203
 Land And Building 198,906
 Other Fixed Assets 153,407
 NCUSIF Deposit 232,045
 All Other Assets 621,284
  TOTAL ASSETS 28,733,780
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 973,771
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,495,026
 Regular shares 18,321,603
 All Other Shares & Deposits 2,748,933
  TOTAL SHARES & DEPOSITS 24,565,562
  TOTAL LIABILITIES 25,539,333
 Regular Reserve 425,829
 Other Reserves 0
 Undivided Earnings 2,768,618
  TOTAL EQUITY 3,194,447
  TOTAL LIABILITIES, SHARES, & EQUITY 28,733,780
INCOME & EXPENSE  
 Loan Income 747,020
 Investment Income 61,483
 Other Income 115,484
 Total Employee Compensation & Benefits 512,392
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 499,389
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -84,330
 Cost of Funds 44,194
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 287,116
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