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.
Name: | HERITAGE SOUTH CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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