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888-245-4776
60 Gene E Stewart Blvd
Sylacauga, AL 35151

Heritage South Credit Union is headquartered in Sylacauga and is the 31st largest credit union in the state of Alabama. It is also the 1,606th largest credit union in the nation. It was established in 1937 and as of March of 2014, it had grown to 36 employees and 11,056 members. Heritage South Credit Union's savings rates are 63% higher than the national average, and it has a A health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in any of these counties: Talladega, Shelby, Coosa, Tallapoosa, Chilton, Calhoun, Clay, St. Clair or Lee. - See Details

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Health

Data for Q1 2014

Institution Health

A
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Heritage South Credit Union has a relatively low asset base.

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 South Credit Union had $343,000 in non-current loans and owned real-estate with $10.86 million in equity and loan loss allowances on hand to cover it. This gives Heritage South Credit Union a Texas Ratio of 3.16% 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 South Credit Union experienced no significant changes from 2.24% as of March 31, 2013 to 3.16% as of March 31, 2014, resulting in a negative change of 40.87%. This indicates that the balance sheet and financial strength for Heritage South Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, Heritage South Credit Union has increased its total deposits by $3.44 million, resulting in 4.5% 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 South Credit Union has shown is excellent.

Capitalization

GRADE:
A

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 South Credit Union has $91.34 million in assets with $10.86 million in equity, resulting in a capitalization level of 11.89%, which is excellent.

Institution Statistics

Overall
NCUA #68586
Year Chartered1937
Employees36
Primary Regulator
Assets and Liabilities
Assets$91.34 million
Loans$59.05 million
Deposits$79.96 million
Equity Capital$10.69 million
Loan Loss Allowance$170,000
Unbacked Noncurrent Loans$290,000
Real Estate Owned$53,000
Historic Data - March 2013
Assets$87.80 million
Equity Capital$10.82 million
Loan Loss Allowance$151,000
Unbacked Noncurrent Loans$290,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.26%
Return on Assets0.6%
Return on Equity5.13%
Interest Income$929,000
Rates

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

Heritage South Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.85%--Individual Retirement Account
0.85%--Roth Individual Retirement Account
0.20%--Regular Share Savings Account
0.20%--Christmas Club Account
0.20%--Vacation Club Account

Heritage South Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.70%$25k-Money Market Account

Heritage South Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
3.00%-$15kPremium Rewards Checking Account - Qualifying
0.20%--Prestige Checking Account
0.20%--Premium Rewards Checking Account - Non Qualifying

Heritage South Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.46%$1k-48 Month Share Certificate - w/Direct Deposit
1.41%$1k-36 Month Share Certificate - w/Direct Deposit
1.27%$1k-24 Month Share Certificate - w/Direct Deposit
1.21%$1k-48 Month Share Certificate
1.16%$1k-36 Month Share Certificate
1.16%$1k-18 Month Share Certificate - w/Direct Deposit
1.11%$1k-12 Month Share Certificate - w/Direct Deposit
1.01%$1k-24 Month Share Certificate
0.90%$1k-18 Month Share Certificate
0.85%$1k-12 Month Share Certificate
0.55%$1k-6 Month Share Certificate - w/Direct Deposit
0.40%$1k-6 Month Share Certificate

Heritage South Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.46%$1k-48 Month IRA Certificate - w/Direct Deposit
1.41%$1k-36 Month IRA Certificate - w/Direct Deposit
1.27%$1k-24 Month IRA Certificate - w/Direct Deposit
1.21%$1k-48 Month IRA Certificate
1.16%$1k-18 Month IRA Certificate - w/Direct Deposit
1.16%$1k-36 Month IRA Certificate
1.11%$1k-12 Month IRA Certificate - w/Direct Deposit
1.01%$1k-24 Month IRA Certificate
0.90%$1k-18 Month IRA Certificate
0.85%$1k-12 Month IRA Certificate
0.55%$1k-6 Month IRA Certificate - w/Direct Deposit
0.40%$1k-6 Month IRA Certificate
Locations


Heritage South Credit Union Locations
Branch Office60 Gene E Stewart BlvdSylacauga, AL 35151
Branch Office901 N Broadway AveSylacauga, AL 35150
Branch Office14 Faye S Perry driveChildersburg, AL 35044