Horizons Credit Union is headquartered in Binghamton and is the 74th largest credit union in the state of New York. It is also the 1,535th largest credit union in the nation. It was established in 1937 and as of December of 2013, it had grown to 30 employees and 11,762 members. Horizons Credit Union's CD rates are 68% higher than the national average, and it has a B+ health rating.
Any person who lives, works, worships, or attends school in, and businesses and other legal entities located in Broome County, NY. - See Details
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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 Horizons Credit Union had $850,000 in non-current loans and owned real-estate with $12.08 million in equity and loan loss allowances on hand to cover it. This gives Horizons Credit Union a Texas Ratio of 7.04% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Horizons Credit Union experienced no significant changes from 6.11% as of December 31, 2012 to 7.04% as of December 31, 2013, resulting in a negative change of 15.26%. This indicates that the balance sheet and financial strength for Horizons Credit Union has had no significant changes in recent periods.
In the past year, Horizons Credit Union has decreased its total deposits by $-913,000, resulting in -1.07% 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 Horizons Credit Union has shown is average.
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. Horizons Credit Union has $95.87 million in assets with $12.08 million in equity, resulting in a capitalization level of 12.60%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$11.56 million|
|Loan Loss Allowance||$525,000|
|Unbacked Noncurrent Loans||$810,000|
|Real Estate Owned||$40,000|
|Historic Data - December 2012|
|Equity Capital||$11.10 million|
|Loan Loss Allowance||$418,000|
|Unbacked Noncurrent Loans||$810,000|
|Real Estate Owned||$73,000|
|Profit Margin - Quarterly|
|Net Interest Margin||5.06%|
|Return on Assets||0.48%|
|Return on Equity||3.95%|
|Interest Income||$3.61 million|
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|0.25%||-||-||IRA Savings Account|
|0.25%||-||-||Roth IRA Savings Account|
|0.25%||-||-||Coverdell Education Savings Account|
|0.10%||$150||-||Regular Savings Account|
|0.10%||-||-||Youth Savings Account|
|0.10%||-||-||Mortgage Escrow Account|
|0.30%||$2,500||-||Money Market Account|
|1.81%||$500||-||5 Year CD|
|1.51%||$100||$500||Kids Under 16 CD|
|0.90%||$500||-||2.5 Year CD|
|0.45%||$500||-||1 Year CD|
|0.35%||$500||-||6 Month CD|
|0.25%||$500||-||90 Day CD|
|1.81%||$500||-||5 Year IRA Certificate (Traditional,Roth,CESA)|
|1.51%||$100||$500||Kids Under 16 IRA Certificate (Traditional,Roth,CESA)|
|0.90%||$500||-||2.5 Year IRA Certificate (Traditional,Roth,CESA)|
|0.45%||$500||-||1 Year IRA Certificate (Traditional,Roth,CESA)|
|0.35%||$500||-||6 Month IRA Certificate (Traditional,Roth,CESA)|
|0.25%||$500||-||90 Day IRA Certificate (Traditional,Roth,CESA)|
|Horizons Credit Union Locations|
|Branch Office||120 Main St||Binghamton, NY 13905|
|Branch Office||3701 Vestal Pkwy E||Vestal, NY 13850-2333|
|Branch Office||141 Washington Ave||Endicott, NY 13760|