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Overview / Commentary
110 Village Sq
Painted Post, NY 14870-1349

First Heritage Credit Union is headquartered in Painted Post and is the 29th largest credit union in the state of New York. It is also the 555th largest credit union in the nation. It was established in 1954 and as of March of 2014, it had grown to 82 employees and 30,587 members. First Heritage Credit Union has a A health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Chemung or Steuben County, New York or Tioga County, Pennsylvania. - See Details

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Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 First Heritage Credit Union had $187,000 in non-current loans and owned real-estate with $39.83 million in equity and loan loss allowances on hand to cover it. This gives First Heritage Credit Union a Texas Ratio of 0.47% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for First Heritage Credit Union decreased dramatically from 0.85% as of March 31, 2013 to 0.47% as of March 31, 2014, resulting in a positive change of 44.46%.This indicates that the balance sheet and financial strength for First Heritage Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, First Heritage Credit Union has increased its total deposits by $8.84 million, resulting in 2.56% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth First Heritage Credit Union has shown is above average.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. First Heritage Credit Union has $397.05 million in assets with $39.83 million in equity, resulting in a capitalization level of 10.03%, which is above average.

Institution Statistics

NCUA #9604
Year Chartered1954
Primary Regulator
Assets and Liabilities
Assets$397.05 million
Loans$163.79 million
Deposits$354.62 million
Equity Capital$39.05 million
Loan Loss Allowance$784,000
Unbacked Noncurrent Loans$187,000
Real Estate Owned$0
Historic Data - March 2013
Assets$390.34 million
Equity Capital$40.40 million
Loan Loss Allowance$885,000
Unbacked Noncurrent Loans$187,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets0.58%
Return on Equity5.9%
Interest Income$2.57 million

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First Heritage Credit Union Savings Account Rates

0.50%--IRA Share Savings Account
0.50%--Roth IRA Share Savings Account
0.35%--Summer Pay Certificate
0.10%$100-Share Savings Account
0.10%--Kirby Kangaroo Savings Account
0.10%--CU Succeed Savings Account
0.10%--Holiday Club Account
0.10%--Vacation Club Account

First Heritage Credit Union Money Market Rates

0.30%$50k-Money Manager Account

First Heritage Credit Union Checking Account Rates

0.25%--CU Succeed Checking Account
0.25%$5k-Business Checking Account

First Heritage Credit Union CD Rates

1.26%$1k-60 Month Share Certificate
1.00%$1k-48 Month Share Certificate
0.90%$1k-36 Month Share Certificate
0.60%$1k-24 Month Share Certificate
0.50%$1k-18 Month Share Certificate
0.40%$1k-12 Month Share Certificate
0.30%$1k-6 Month Share Certificate

First Heritage Credit Union IRA Rates

1.26%$1k-60 Month IRA Share Certificate
1.00%$1k-48 Month IRA Share Certificate
0.90%$1k-36 Month IRA Share Certificate
0.60%$1k-24 Month IRA Share Certificate
0.50%$1k-18 Month IRA Share Certificate
0.40%$1k-12 Month IRA Share Certificate
0.30%$1k-6 Month IRA Share Certificate

First Heritage Credit Union Locations
Branch Office11 Steuben StAddison, NY 14801
Branch Office501 Gardner RdHorseheads, NY 14845
Branch Office1707 Cedar StElmira, NY 14904
Branch Office218 Prescott AveElmira Heights, NY 14903
Branch Office555 Saint Josephs BlvdElmira, NY 14901
Branch Office23 W Market StCorning, NY 14830
Branch Office17 East AveWellsboro, PA 16901
Branch Office110 Village SqPainted Post, NY 14870-1349
Branch Office1100 Clemens Center PkwyElmira, NY 14901