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5 star rating based on 1 review.

Heritage Family Credit Union

Heritage Family Credit Union Locations
30 Allen Street
Rutland, VT 05701
888-252-8932
www.hfcuvt.com

NCUA

Heritage Family Credit Union is headquartered in Rutland and is the 5th largest credit union in the state of Vermont. It is also the 609th largest credit union in the nation. It was established in 1956 and as of December of 2012, it had grown to 124 employees and 36,614 members. Heritage Family Credit Union's savings rates are 92% higher than the national average, and it has a 4-star health rating.

Related Posts

5.25% 9-Month CD at a Vermont/New Hampshire CU (Heritage Family). - 12/17/2007

Heritage Family Credit Union is offering a 5.25% APY 9-month certificate. The minimum deposit is $1,000. My last report on this credit union was in March when they were offering a 6% 51-month CD.Field of membership includes those who live, work or...

6.00% 51-Month / 5.64% 25-Month CD at a Vermont/New Hampshire CU (Heritage Family). - 3/5/2007

Heritage Family Credit Union has several high rates on certificates. The highest rate is a 6.00% APY 51-month CD. The next best is a 5.65% APY CD with terms of 25 months and 36 months. The minimum deposit is $1,000. The early withdrawal penalty is 90...



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See Rates for: Checking | Savings | Money Market | CD | IRA

Heritage Family Credit Union Checking Account Rates

ApyMinMaxProduct
0.75%$5k-Business Plus Share Draft Account
0.15%--Share Draft Account

Heritage Family Credit Union Savings Account Rates

ApyMinMaxProduct
1.00%$5k-Health Savings Account (HSA)
0.85%--Business High Yield Account
0.60%$500-IRA Term Certificate
0.60%--IRA Share Savings Account
0.60%--IRA Payroll Account
0.60%--Roth IRA Payroll Account
0.60%--Roth IRA Share Savings Account
0.60%--Education IRA Payroll Account
0.60%--Education IRA Share Savings Account
0.60%$500-Roth IRA Term Certificate
0.60%$500-Education IRA Term Certificate
0.50%$25-Share Savings Account
0.50%--Holiday Club Account
0.50%--Vacation Club Account
0.50%--Fuel Account
0.50%--Business Primary Share Account
0.50%--Tax Account

Heritage Family Credit Union Money Market Rates

ApyMinMaxProduct
0.50%$35k-Business Money Market Share
0.50%$35k-Money Market Share Account

Heritage Family Credit Union CD Rates

ApyMinMaxProduct
1.00%$1k-36 Month Share Certificate
0.90%$1k-24 Month Share Certificate
0.60%$1k-12 Month Share Certificate
0.45%$1k-6 Month Share Certificate
0.35%$1k-3 Month Share Certificate

Heritage Family Credit Union IRA Rates

ApyMinMaxProduct
1.00%$500-36 Month IRA Certificate
1.00%$500-36 Month Roth IRA Certificate
1.00%$500-36 Month Education IRA Certificate
0.90%$500-24 Month IRA Certificate
0.90%$500-24 Month Roth IRA Certificate
0.90%$500-24 Month Education IRA Certificate
0.60%$500-12 Month IRA Certificate
0.60%$500-12 Month Roth IRA Certificate
0.60%$500-12 Month Education IRA Certificate
0.45%$500-6 Month IRA Certificate
0.45%$500-6 Month Roth IRA Certificate
0.45%$500-6 Month Education IRA Certificate
0.35%$500-3 Month IRA Certificate
0.35%$500-3 Month Roth IRA Certificate
0.35%$500-3 Month Education IRA Certificate

Rates updated: 5/22/2013

Data for Q4 2012


Institution Statistics


HERITAGE FAMILY
NCUA #24742
BankRate ReportView
Year Chartered1956
Employees124
Primary Regulator

Assets and Liabilities

Assets$334.59 million
Loans$245.94 million
Deposits$302.99 million
Equity Capital$25.65 million
Loan Loss Allowance$2.41 million
Unbacked Noncurrent Loans$2.91 million
Real Estate Owned$164,000

Historic Data - December 2011

Assets$288.59 million
Equity Capital$22.23 million
Loan Loss Allowance$2.17 million
Unbacked Noncurrent Loans$4.84 million
Real Estate Owned$90,000

Profit Margin - Quarterly

Net Interest Margin4.99%
Return on Assets2.46%
Return on Equity32.15%
Interest Income$14.44 million
Non-Interest Income$11.73 million

Institution Health


Overall Score:
4 out of 5
4
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 Family Credit Union had $3.08 million in non-current loans and owned real-estate with $28.06 million in equity and loan loss allowances on hand to cover it. This gives Heritage Family Credit Union a Texas Ratio of 10.96% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend5
The Texas Ratio for Heritage Family Credit Union decreased significantly from 20.23% as of December 31, 2011 to 10.96% as of December 31, 2012, resulting in a positive change of 45.80%.This indicates that the balance sheet and financial strength for Heritage Family Credit Union has improved significantly in recent periods.
Deposit Growth5
In the past year, Heritage Family Credit Union has increased its total deposits by $47.44 million, resulting in 18.57% 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 Family Credit Union has shown is excellent.
Capitalization3
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 Family Credit Union has $334.59 million in assets with $28.06 million in equity, resulting in a capitalization level of 8.39%, which is average.
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Great Credit Union, Everything I Want In A Bank Without Any Of The Irritation Or Frustration Of Big Banks
5 stars - Diplodocus - Sunday, May 15, 2011 - 9:40 PM

I love Heritage Family as a bank. Good interest rates and interest on checking accounts, easy online banking system,  and as a shared branch of the credit union network I can access my accounts in-person at all sorts of other credit unions around the country, as well as surcharge-free ATMs. It's about as convenient as having a branch availablein anywhere you may go domestically, but not always as nearby as a big bank in a big city. HFCU charges $1 for most non-HFCU ATM transactions (in addition to any ATM's own surcharge), which is a slight irritant, but Chase and other banks often do $2. Far more so than competitors, HFCU is honest, straightforward, actually looking out for you as a member and your interests individually, and legitimately fair in their policies. In a decade of banking with them, I've never once felt as if I was getting the short end of some deal, say being charged a fee for something silly or trivial. They are the friendly neighborhood dream bank in It's a Wonderful Life. They handle me well, they handle my money well, and they make it easy and convenient for me to do what I need with it when and where I want to.

 

They don't always have the most advanced conveniences, like depositing a check from a picture message. For me, those advancements are great, but not worth the tradeoff in service and bank culture. I love it and highly recommend it.

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