Dec, 31, 2023 — NEW HORIZON FEDERAL CREDIT UNION is a federal credit union headquartered in BARBERTON, OH with 4 branch locations and about $37.73 million in total assets. Opened 89 years ago in 1935, NEW HORIZON FEDERAL CREDIT UNION has about 2,965 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: | 2,965 |
| 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, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $37,730,124 |
| CEO/Manager: | Michael T Heidenreich |
| Chairperson: | Mike Thomas |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,662,805 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 13,804,798 |
| Unsecured Loans | 3,614,764 |
| Other Loans | 12,123,674 |
| TOTAL LOANS | 29,543,237 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -361,199 |
| Land And Building | 167,671 |
| Other Fixed Assets | 128,792 |
| NCUSIF Deposit | 325,008 |
| All Other Assets | 0 |
| TOTAL ASSETS | 37,730,124 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 392,404 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,998,383 |
| Regular shares | 15,410,422 |
| All Other Shares & Deposits | 13,058,484 |
| TOTAL SHARES & DEPOSITS | 32,467,289 |
| TOTAL LIABILITIES | 32,859,693 |
| Regular Reserve | 0 |
| Other Reserves | 425,829 |
| Undivided Earnings | 4,444,602 |
| TOTAL EQUITY | 4,870,431 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 37,730,124 |
| INCOME & EXPENSE | |
| Loan Income | 1,593,329 |
| Investment Income | 240,170 |
| Other Income | 222,032 |
| Total Employee Compensation & Benefits | 737,638 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 849,191 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 34,853 |
| Cost of Funds | 475,503 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 686,014 |
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