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NEW HORIZON FEDERAL CREDIT UNION

Sep, 30, 2022 — 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

Call Report

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

Financial Summary

» See also Statement of Financial Condition
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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