Dec, 31, 2023 — HERITAGE FAMILY FEDERAL CREDIT UNION is a federal credit union headquartered in RUTLAND, VT with 11 branch locations and about $738.81 million in total assets. Opened 68 years ago in 1956, HERITAGE FAMILY FEDERAL CREDIT UNION has about 50,429 members and employs 178 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 FAMILY FEDERAL CREDIT UNION |
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Address: (Main Office) | 26 Allen St RUTLAND, VT 05701 |
Phone: | (802) 775-4930 |
Fax: | |
Website: | https://www.hfcuvt.com |
Branches: | 11 branch locations |
Members: | 50,429 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24742 |
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Membership Type: | Community - Rural District |
Corporate Credit Union: | No |
Year Opened: | 1956 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $738,810,549 |
CEO/Manager: | Chris Gomez |
Chairperson: | Kevin Loso |
ASSETS: | $ Amount |
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Cash & Equivalents | 31,983,758 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 811,629 |
Real Estate Loans | 294,421,290 |
Unsecured Loans | 44,655,375 |
Other Loans | 188,045,383 |
TOTAL LOANS | 527,289,731 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,259,445 |
Land And Building | 16,278,074 |
Other Fixed Assets | 2,146,402 |
NCUSIF Deposit | 5,980,430 |
All Other Assets | 204,801 |
TOTAL ASSETS | 738,810,549 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 60,260,000 |
Accounts Payable & Other Liabilities | 11,429,714 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 148,510,383 |
Regular shares | 289,590,246 |
All Other Shares & Deposits | 169,916,288 |
TOTAL SHARES & DEPOSITS | 608,016,917 |
TOTAL LIABILITIES | 679,956,135 |
Regular Reserve | 0 |
Other Reserves | -23,935,374 |
Undivided Earnings | 82,789,788 |
TOTAL EQUITY | 58,854,414 |
TOTAL LIABILITIES, SHARES, & EQUITY | 738,810,549 |
INCOME & EXPENSE | |
Loan Income | 28,856,949 |
Investment Income | 5,947,854 |
Other Income | 6,912,094 |
Total Employee Compensation & Benefits | 15,211,301 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 14,182,702 |
Non-operating Income & (Expense) | -27,217 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,828,673 |
Cost of Funds | 5,988,738 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 8,917,418 |
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