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NEW HORIZON FEDERAL CREDIT UNION

Mar, 31, 2021 — NEW HORIZON FEDERAL CREDIT UNION is a federal credit union headquartered in BARBERTON, OH with 2 branch locations and about $29.11 million in total assets. Opened 86 years ago in 1935, NEW HORIZON FEDERAL CREDIT UNION has about 2,520 members and employs 12 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:2,520
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, 2019
FHLB Member:No
Low Income Designation:No
Assets:$29,112,183
CEO/Manager:Michael T Heidenreich
Chairperson:Mike Thomas

Call Report

  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 5,550,551
TOTAL INVESTMENTS 4,208,794
Loans Held for Sale 0
 
 Real Estate Loans 9,946,853
 Unsecured Loans 2,171,954
 Other Loans 6,758,974
 TOTAL LOANS 18,877,781
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -208,736
 Land And Building 209,750
 Other Fixed Assets 166,495
 NCUSIF Deposit 173,126
 All Other Assets 134,422
  TOTAL ASSETS 29,112,183
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 44,658
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,543,865
 Regular shares 17,444,430
 All Other Shares & Deposits 5,155,013
  TOTAL SHARES & DEPOSITS 26,143,308
  TOTAL LIABILITIES 26,187,966
 Regular Reserve 425,829
 Other Reserves 0
 Undivided Earnings 2,498,388
  TOTAL EQUITY 2,924,217
  TOTAL LIABILITIES, SHARES, & EQUITY 29,112,183
INCOME & EXPENSE  
 Loan Income 245,412
 Investment Income 24,504
 Other Income 28,127
 Total Employee Compensation & Benefits 169,543
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 174,498
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -25,000
 Cost of Funds 19,569
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,324
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