Heritage Family Credit Union is headquartered in Rutland and is the 5th largest credit union in the state of Vermont. It is also the 610st largest credit union in the nation. It was established in 1956 and as of December of 2013, it had grown to 135 employees and 38,917 members. Heritage Family Credit Union's savings rates are 92% higher than the national average, and it has a B+ health rating.
Must live, work or worship in Rutland, Addison, Bennington, Windsor or Windham county in Vermont or in Hooksett, N.H. - See Details
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.
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, 2013 Heritage Family Credit Union had $2.43 million in non-current loans and owned real-estate with $30.31 million in equity and loan loss allowances on hand to cover it. This gives Heritage Family Credit Union a Texas Ratio of 8.03% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Heritage Family Credit Union decreased slightly from 10.96% as of December 31, 2012 to 8.03% as of December 31, 2013, resulting in a positive change of 26.74%.This indicates that the balance sheet and financial strength for Heritage Family Credit Union has improved slightly in recent periods.
In the past year, Heritage Family Credit Union has increased its total deposits by $14.09 million, resulting in 4.65% 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.
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 $347.05 million in assets with $30.31 million in equity, resulting in a capitalization level of 8.73%, which is average.
|Assets and Liabilities|
|Equity Capital||$28.07 million|
|Loan Loss Allowance||$2.24 million|
|Unbacked Noncurrent Loans||$2.30 million|
|Real Estate Owned||$135,000|
|Historic Data - December 2012|
|Equity Capital||$25.65 million|
|Loan Loss Allowance||$2.41 million|
|Unbacked Noncurrent Loans||$2.30 million|
|Real Estate Owned||$164,000|
|Profit Margin - Quarterly|
|Net Interest Margin||4.65%|
|Return on Assets||0.9%|
|Return on Equity||11.18%|
|Interest Income||$14.56 million|
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|1.00%||$5k||-||Health Savings Account (HSA)|
|0.85%||-||-||Business High Yield Account|
|0.55%||$500||-||IRA Term Certificate|
|0.55%||-||-||IRA Share Savings Account|
|0.55%||-||-||IRA Payroll Account|
|0.55%||-||-||Roth IRA Payroll Account|
|0.55%||-||-||Roth IRA Share Savings Account|
|0.55%||-||-||Education IRA Payroll Account|
|0.55%||-||-||Education IRA Share Savings Account|
|0.55%||$500||-||Roth IRA Term Certificate|
|0.55%||$500||-||Education IRA Term Certificate|
|0.40%||$25||-||Share Savings Account|
|0.40%||-||-||Holiday Club Account|
|0.40%||-||-||Vacation Club Account|
|0.40%||-||-||Business Primary Share Account|
|0.45%||$35k||-||Business Money Market Share|
|0.45%||$35k||-||Money Market Share Account|
|0.75%||$5k||-||Business Plus Share Draft Account|
|0.15%||-||-||Share Draft Account|
|1.35%||$1k||-||36 Month Share Certificate|
|1.15%||$1k||-||24 Month Share Certificate|
|0.50%||$1k||-||12 Month Share Certificate|
|0.40%||$1k||-||6 Month Share Certificate|
|0.30%||$1k||-||3 Month Share Certificate|
|1.35%||$500||-||36 Month IRA Certificate (Traditional,Roth,CESA)|
|1.15%||$500||-||24 Month IRA Certificate (Traditional,Roth,CESA)|
|0.50%||$500||-||12 Month IRA Certificate (Traditional,Roth,CESA)|
|0.40%||$500||-||6 Month IRA Certificate (Traditional,Roth,CESA)|
|0.30%||$500||-||3 Month IRA Certificate (Traditional,Roth,CESA)|