1 star ratingAverage User Rating:
1 star rating based on 1 review.

Heritage Credit Union

Heritage Credit Union Locations
1212 Huxley St
Madison, WI 53704
608-268-5090
www.heritagecu.org

NCUA

Heritage Credit Union is headquartered in MADISON and is the 23rd largest credit union in the state of Wisconsin. It is also the 826th largest credit union in the nation. It was established in 1978 and as of December of 2012, it had grown to 74 employees and 22,751 members. Heritage Credit Union has a 5-star health rating.

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3.50% Reward Checking Account at Heritage Credit Union in IL and WI - 10/26/2008

Update 10/24/09: The top yield has fallen to 3.50% APY. Refer to the bottom of the post for the rate history.Heritage Credit Union is offering a reward checking account called Go Go Green Checking. It pays 3.50% APY on balances up to $25,000 (0.50% for...



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See Rates for: Checking | CD

Heritage Credit Union Checking Account Rates

ApyMinMaxProduct
2.15%-$20kGo Go Green Checking
0.15%$100-True Blue Checking
0.05%$2,500-Free 50 Checking

Heritage Credit Union CD Rates

ApyMinMaxProduct
1.10%$1k-36 Month Share Certificate Special
1.00%$5k-32 Month Share Certificate Special

Rates updated: 5/24/2013

Data for Q4 2012


Institution Statistics


HERITAGE
NCUA #68385
BankRate ReportView
Year Chartered1978
Employees74
Primary Regulator

Assets and Liabilities

Assets$225.33 million
Loans$165.79 million
Deposits$196.94 million
Equity Capital$28.70 million
Loan Loss Allowance$1.86 million
Unbacked Noncurrent Loans$2.65 million
Real Estate Owned$286,000

Historic Data - December 2011

Assets$219.50 million
Equity Capital$27.11 million
Loan Loss Allowance$2.35 million
Unbacked Noncurrent Loans$3.08 million
Real Estate Owned$599,000

Profit Margin - Quarterly

Net Interest Margin4.61%
Return on Assets0.4%
Return on Equity3.16%
Interest Income$9.24 million
Non-Interest Income$2.15 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio4
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, 2012 Heritage Credit Union had $2.93 million in non-current loans and owned real-estate with $30.56 million in equity and loan loss allowances on hand to cover it. This gives Heritage Credit Union a Texas Ratio of 9.59% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for Heritage Credit Union decreased slightly from 12.48% as of December 31, 2011 to 9.59% as of December 31, 2012, resulting in a positive change of 23.15%.This indicates that the balance sheet and financial strength for Heritage Credit Union has improved slightly in recent periods.
Deposit Growth5
In the past year, Heritage Credit Union has increased its total deposits by $14.08 million, resulting in 7.7% 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 has shown is excellent.
Capitalization5
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 has $225.33 million in assets with $30.56 million in equity, resulting in a capitalization level of 13.56%, which is excellent.
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Terrible Service, Would Not Recommend
1 stars - misha07 - Friday, March 15, 2013 - 10:12 AM

Terrible service - online, in person, over the phone. After setting up my account, I didn't receive my debit card in the mail for 2 weeks, and then had to wait another week to receive my pin number. Then teller services couldn't activate my card. I couldn't set up online banking because they had entered my personal information wrong and misspelled "gmail.com". I've banked with multiple other credit unions and never had a single problem. I will be switching as soon as they let me access my card and money again. Would not recommend this credit union to anyone.

1
 
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