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HERITAGE SOUTH COMMUNITY CREDIT UNION

Dec, 31, 2023 — HERITAGE SOUTH COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in SHELBYVILLE, TN with 5 branch locations and about $307.92 million in total assets. Opened 67 years ago in 1957, HERITAGE SOUTH COMMUNITY CREDIT UNION has about 33,519 members and employs 83 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:HERITAGE SOUTH COMMUNITY CREDIT UNION
Address:
(Main Office)
763 N Main St
SHELBYVILLE, TN 37160-2846
Phone:(931) 684-3596
Fax:(931) 685-4233
Website:https://www.heritagesouth.org
Branches:5 branch locations
Members:33,519
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67748
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1957
Last Audited:Sep 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$307,924,520
CEO/Manager:Laura Parham
Chairperson:Ken Malone

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 10,219,106
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 131,470,369
 Unsecured Loans 13,829,122
 Other Loans 86,418,512
 TOTAL LOANS 233,986,375
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -3,202,686
 Land And Building 7,891,139
 Other Fixed Assets 859,532
 NCUSIF Deposit 2,523,115
 All Other Assets 16,100
  TOTAL ASSETS 307,924,520
LIABILITIES & CAPITAL:  
 Dividends Payable 1,078,725
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,316,539
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 53,933,529
 Regular shares 74,700,896
 All Other Shares & Deposits 127,358,136
  TOTAL SHARES & DEPOSITS 255,992,561
  TOTAL LIABILITIES 260,387,825
 Regular Reserve 0
 Other Reserves -622,556
 Undivided Earnings 48,159,251
  TOTAL EQUITY 47,536,695
  TOTAL LIABILITIES, SHARES, & EQUITY 307,924,520
INCOME & EXPENSE  
 Loan Income 14,384,312
 Investment Income 1,423,538
 Other Income 2,820,045
 Total Employee Compensation & Benefits 7,627,950
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 6,029,405
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 627,875
 Cost of Funds 3,340,964
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,361,941
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