Heritage Credit Union (IN)

Heritage Credit Union (IN) is headquartered in Newburgh and is the 15^st largest credit union in the state of Indiana. It is also the 472^nd largest credit union in the nation. It was established in 1965 and as of December of 2011, it had grown to 118 employees and 41,699 members. Heritage Credit Union (IN)'s savings rates are 92% higher than the national average, and it boasts a 5-star health rating.

Related Posts

Heritage Credit Union (IN) Checking Account Rates

Heritage Credit Union (IN) Savings Account Rates

Heritage Credit Union (IN) Money Market Rates

Heritage Credit Union (IN) CD Rates

Heritage Credit Union (IN) IRA Rates

Data for Q4 2011

Institution Statistics HERITAGE NCUA # 16626 BankRate Report View Year Chartered 1965 Employees 118 Primary Regulator Assets and Liabilities Assets $412.42 million Loans $262.25 million Deposits $367.57 million Equity Capital $41.05 million Loan Loss Allowance $1.05 million Unbacked Noncurrent Loans $1.28 million Real Estate Owned $70,000 Historic Data - December 2010 Assets $377.25 million Equity Capital $38.54 million Loan Loss Allowance $855,000 Unbacked Noncurrent Loans $3.56 million Real Estate Owned $146,000 Profit Margin - Quarterly Net Interest Margin 4.93% Return on Assets 0.56% Return on Equity 5.66% Interest Income $16.40 million Non-Interest Income $5.87 million

Institution Health Overall Score: 5 out of 5 Texas Ratio The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2011 Heritage Credit Union (IN) had $1.34 million in non-current loans and owned real-estate with $42.1 million in equity and loan loss allowances on hand to cover it. This gives Heritage Credit Union (IN) a Texas Ratio of 3.20% 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 Heritage Credit Union (IN) decreased significantly from 9.40% as of December 31, 2010 to 3.20% as of December 31, 2011, resulting in a positive change of 66.01%.This indicates that the balance sheet and financial strength for Heritage Credit Union (IN) has improved significantly in recent periods. Deposit Growth In the past year, Heritage Credit Union (IN) has increased its total deposits by $31.99 million, resulting in 9.53% 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 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 $412.42 million in assets with $42.1 million in equity, resulting in a capitalization level of 10.21%, which is above average.

No reviews have been left for this bank yet. Be the first to review.