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Overview / Commentary
812-853-7306
5388 W State Route 66
Newburgh, IN 47630

Heritage Credit Union (IN) is headquartered in Newburgh and is the 15st largest credit union in the state of Indiana. It is also the 480th largest credit union in the nation. It was established in 1965 and as of March of 2014, it had grown to 136 employees and 45,649 members. Heritage Credit Union (IN)'s savings rates are 4X the national average, and it boasts a A+ health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Vanderburgh or Warrick County. - See Details

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Health

Data for Q1 2014

Institution Health

A+

Texas Ratio

GRADE:
A+

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 Heritage Credit Union (IN) had $564,000 in non-current loans and owned real-estate with $48.08 million in equity and loan loss allowances on hand to cover it. This gives Heritage Credit Union (IN) a Texas Ratio of 1.17% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Heritage Credit Union (IN) experienced no significant changes from 1.02% as of March 31, 2013 to 1.17% as of March 31, 2014, resulting in a negative change of 15.04%. This indicates that the balance sheet and financial strength for Heritage Credit Union (IN) has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Heritage Credit Union (IN) has increased its total deposits by $23.76 million, resulting in 5.97% 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 Heritage Credit Union (IN) has shown is excellent.

Capitalization

GRADE:
B+

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. Heritage Credit Union (IN) has $474.1 million in assets with $48.08 million in equity, resulting in a capitalization level of 10.14%, which is above average.

Institution Statistics

Overall
NCUA #16626
Year Chartered1965
Employees136
Primary Regulator
Assets and Liabilities
Assets$474.10 million
Loans$284.88 million
Deposits$422.08 million
Equity Capital$47.24 million
Loan Loss Allowance$840,000
Unbacked Noncurrent Loans$564,000
Real Estate Owned$0
Historic Data - March 2013
Assets$447.80 million
Equity Capital$44.76 million
Loan Loss Allowance$922,000
Unbacked Noncurrent Loans$564,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.05%
Return on Assets0.72%
Return on Equity7.18%
Interest Income$3.68 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Heritage Credit Union (IN), we are a rate comparison website and can not provide official rates or promotions.

Heritage Credit Union (IN) Savings Account Rates

DetailsAPYMINMAXPRODUCT
2.02%--Health Savings Checking
0.30%$100k-Prime Performance Savings
0.20%--Graduate Planning Account
0.15%$25k-Primary Share
0.15%$25k-Savings Account
0.15%$25k-Christmas Club
0.15%$25k-Member Defined Club
0.15%$25k-Primary Share< Age 19
0.15%$25k-Savings Account < Age 19

Heritage Credit Union (IN) Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$25k-Money Market

Heritage Credit Union (IN) Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$500-Merit Checking
0.05%--Future Advantage Checking
0.05%--Non Profit Checking
0.05%--Prime Advantage Checking (age 50 and better)

Heritage Credit Union (IN) CD Rates

DetailsAPYMINMAXPRODUCT
1.51%$500-5 Year CD
1.16%$500-4 Year CD
1.11%$500-3 Year CD
0.60%$500-2 Year CD
0.30%$500-1 Year CD
0.20%$2,500-6-Month CD
0.15%$2,500-91-Day CD

Heritage Credit Union (IN) IRA Rates

DetailsAPYMINMAXPRODUCT
1.76%$500-5 Year IRA
1.41%$500-4 Year IRA
1.36%$500-3 Year IRA
0.85%$500-2 Year IRA
0.55%$500-1 Year IRA
0.45%$2,500-6-Month IRA
0.40%--90 Day Notice IRA
0.40%$2,500-91-Day IRA
Locations


Heritage Credit Union (IN) Locations
Branch Office5388 W State Route 66Newburgh, IN 47630
Branch Office331 E Boonville New Harmony RdEvansville, IN 47725
Branch Office3540 N 1st AveEvansville, IN 47710
Branch Office4920 Vogel RdEvansville, IN 47715
Branch Office966 N State Route 61Boonville, IN 47601
Branch Office8266 Bell Oaks DrNewburgh, IN 47630
Branch Office5343 Pearl DrEvansville, IN 47712
Branch Office5388 W State Route 66Newburgh, IN 47630