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National Credit Union Service Organization

HERITAGE SOUTH CREDIT UNION

Dec, 31, 2023 — HERITAGE SOUTH CREDIT UNION is a federally insured state chartered credit union headquartered in SYLACAUGA, AL with 7 branch locations and about $174.76 million in total assets. Opened 87 years ago in 1937, HERITAGE SOUTH CREDIT UNION has about 15,488 members and employs 61 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 262277118
Name:HERITAGE SOUTH CREDIT UNION
Address:
(Main Office)
60 Gene E Stewart Blvd
SYLACAUGA, AL 35151
Phone:(256) 245-4776
Fax:(256) 401-1288
Website:https://www.myhscu.com
Branches:7 branch locations
Members:15,488
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68586
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1937
Last Audited:Jun 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$174,762,433
CEO/Manager:Jamie m Payton
Chairperson:Jim Patton

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 11,930,759
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 57,249,814
 Unsecured Loans 10,591,566
 Other Loans 62,622,744
 TOTAL LOANS 130,464,125
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -846,498
 Land And Building 9,320,426
 Other Fixed Assets 646,618
 NCUSIF Deposit 1,495,175
 All Other Assets 401,249
  TOTAL ASSETS 174,762,433
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 5,000,000
 Accounts Payable & Other Liabilities 624,444
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 33,470,710
 Regular shares 51,294,201
 All Other Shares & Deposits 70,085,359
  TOTAL SHARES & DEPOSITS 154,850,270
  TOTAL LIABILITIES 160,474,714
 Regular Reserve 0
 Other Reserves -2,755,949
 Undivided Earnings 17,043,668
  TOTAL EQUITY 14,287,719
  TOTAL LIABILITIES, SHARES, & EQUITY 174,762,433
INCOME & EXPENSE  
 Loan Income 7,063,163
 Investment Income 991,321
 Other Income 3,024,775
 Total Employee Compensation & Benefits 3,741,216
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 4,582,292
 Non-operating Income & (Expense) 27,979
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 344,564
 Cost of Funds 1,606,022
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 965,021
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