Georgia Heritage Federal Credit Union is headquartered in Savannah and is the 29th largest credit union in the state of Georgia. It is also the 1,767th largest credit union in the nation. It was established in 1940 and as of March of 2014, it had grown to 31 employees and 8,143 members. Georgia Heritage Federal Credit Union has a B+ health rating.
Membership is open to anyone who lives, works, worships, or attends school in Chatham, Effingham, or Bryan counties in Georgia. Immediate family members of anyone who qualifies for membership, or of anyone who is a current member of Georgia Heritage FCU, may also gain membership to the Credit Union. Membership requires a minimum balance of $5 in the share savings account. - See Details
No reviews have been left for this bank yet. Be the first to review.
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 Georgia Heritage Federal Credit Union had $343,000 in non-current loans and owned real-estate with $10.75 million in equity and loan loss allowances on hand to cover it. This gives Georgia Heritage Federal Credit Union a Texas Ratio of 3.19% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Georgia Heritage Federal Credit Union decreased slightly from 3.92% as of March 31, 2013 to 3.19% as of March 31, 2014, resulting in a positive change of 18.51%.This indicates that the balance sheet and financial strength for Georgia Heritage Federal Credit Union has improved slightly in recent periods.
In the past year, Georgia Heritage Federal Credit Union has decreased its total deposits by -$2.97 million, resulting in -4.19% 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 Georgia Heritage Federal Credit Union has shown is below 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. Georgia Heritage Federal Credit Union has $79.68 million in assets with $10.75 million in equity, resulting in a capitalization level of 13.49%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$10.36 million|
|Loan Loss Allowance||$386,000|
|Unbacked Noncurrent Loans||$272,000|
|Real Estate Owned||$71,000|
|Historic Data - March 2013|
|Equity Capital||$9.94 million|
|Loan Loss Allowance||$503,000|
|Unbacked Noncurrent Loans||$272,000|
|Real Estate Owned||$82,000|
|Profit Margin - Quarterly|
|Net Interest Margin||1.17%|
|Return on Assets||0.11%|
|Return on Equity||0.85%|
Always verify rates and promotions with the bank or credit union. We are not Georgia Heritage Federal Credit Union, we are a rate comparison website and can not provide official rates or promotions.
|0.50%||$50k||-||Roth IRA Savings|
|0.25%||$25k||-||Money Market Plus|
|6.00%||-||$500||E-Account Checking - Qualifying|
|1.20%||$500||-||60 Month Share Certificate|
|0.95%||$500||-||48 Month Share Certificate|
|0.85%||$500||-||36 Month Share Certificate|
|0.70%||$500||-||24 Month Share Certificate|
|0.60%||$500||-||24 Month 3-Step Share Certificate|
|0.50%||$500||-||12 Month Share Certificate|
|0.25%||$500||-||6 Month Share Certificate|
|1.20%||$10k||-||60 Month IRA|
|0.95%||$10k||-||48 Month IRA|
|0.85%||$500||-||36 Month IRA|
|0.70%||$500||-||24 Month IRA|
|0.50%||$500||-||12 Month IRA|
|0.25%||$500||-||6 Month IRA|
|Georgia Heritage Federal Credit Union Locations|
|Branch Office||1085 W Lathrop Ave||Savannah, GA 31415|
|Branch Office||102 Park Ave||Pooler, GA 31322|