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NEW HORIZON FEDERAL CREDIT UNION

Mar, 31, 2022 — NEW HORIZON FEDERAL CREDIT UNION is a federal credit union headquartered in BARBERTON, OH with 3 branch locations and about $29.74 million in total assets. Opened 87 years ago in 1935, NEW HORIZON FEDERAL CREDIT UNION has about 2,646 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:3 branch locations
Members:2,646
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:$29,740,333
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 3,640,028
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 10,614,496
 Unsecured Loans 2,523,598
 Other Loans 7,647,074
 TOTAL LOANS 20,785,168
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -398,263
 Land And Building 188,222
 Other Fixed Assets 151,644
 NCUSIF Deposit 232,045
 All Other Assets 0
  TOTAL ASSETS 29,740,333
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 841,252
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,553,872
 Regular shares 19,194,001
 All Other Shares & Deposits 2,610,916
  TOTAL SHARES & DEPOSITS 25,358,789
  TOTAL LIABILITIES 26,200,041
 Regular Reserve 0
 Other Reserves 425,829
 Undivided Earnings 3,114,463
  TOTAL EQUITY 3,540,292
  TOTAL LIABILITIES, SHARES, & EQUITY 29,740,333
INCOME & EXPENSE  
 Loan Income 252,248
 Investment Income 18,448
 Other Income 45,666
 Total Employee Compensation & Benefits 160,703
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 159,574
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 4,947
 Cost of Funds 9,948
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 22,490
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