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Overview / Commentary
622 Azalea Rd
Mobile, AL 36609-1530

New Horizons Credit Union is headquartered in Mobile and is the 21st largest credit union in the state of Alabama. It is also the 914st largest credit union in the nation. It was established in 1950 and as of March of 2014, it had grown to 64 employees and 34,108 members. New Horizons Credit Union's money market rates are 36% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

If you live, work, worship or attend school in Mobile, Baldwin, Washington, Clarke, Monroe or Escambia counties, in Alabama you are eligible for membership at New Horizons Credit Union. You can also join New Horizons Credit Union if you are related to a current member or if you work for a "member company". Membership requires a minimum balance of $25 in the regular savings account. - See Details

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Data for Q1 2014

Institution Health


Texas Ratio


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 New Horizons Credit Union had $1.54 million in non-current loans and owned real-estate with $17.13 million in equity and loan loss allowances on hand to cover it. This gives New Horizons Credit Union a Texas Ratio of 8.98% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for New Horizons Credit Union decreased slightly from 12.14% as of March 31, 2013 to 8.98% as of March 31, 2014, resulting in a positive change of 26.04%.This indicates that the balance sheet and financial strength for New Horizons Credit Union has improved slightly in recent periods.

Deposit Growth


In the past year, New Horizons Credit Union has increased its total deposits by $4.49 million, resulting in 2.43% 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 New Horizons Credit Union has shown is above 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. New Horizons Credit Union has $208.77 million in assets with $17.13 million in equity, resulting in a capitalization level of 8.21%, which is average.

Institution Statistics

NCUA #60799
Year Chartered1950
Primary Regulator
Assets and Liabilities
Assets$208.77 million
Loans$85.68 million
Deposits$189.34 million
Equity Capital$16.10 million
Loan Loss Allowance$1.03 million
Unbacked Noncurrent Loans$1.39 million
Real Estate Owned$153,000
Historic Data - March 2013
Assets$205.10 million
Equity Capital$15.33 million
Loan Loss Allowance$1.56 million
Unbacked Noncurrent Loans$1.39 million
Real Estate Owned$303,000
Profit Margin - Quarterly
Return on Assets0.42%
Return on Equity5.42%
Interest Income$1.29 million

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New Horizons Credit Union Savings Account Rates

0.40%--IRA Share Account
0.40%--Roth IRA Share Account
0.40%--CESA Share Account
0.20%--Christmas Account
0.20%--Vacation Account
0.15%--Savings Account

New Horizons Credit Union Money Market Rates

0.60%$100k-Money Market Account

New Horizons Credit Union Checking Account Rates

1.51%-$25kUltimate Checking - Qualifying
0.10%--Ultimate Checking - Non Qualifying

New Horizons Credit Union CD Rates

1.16%--36 Month Jumbo CD
1.05%$500-36 Month CD
0.95%--24 Month Jumbo CD
0.90%$500-24 Month CD
0.60%--12 Month Jumbo CD
0.55%$500-12 Month CD
0.40%--6 Month Jumbo CD
0.35%$500-180 Day CD
0.25%$500-90 Day CD

New Horizons Credit Union IRA Rates

1.05%$500-36 Month IRA
0.90%$500-24 Month IRA
0.55%$500-12 Month IRA

New Horizons Credit Union Locations
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Branch Office622 Azalea RdMobile, AL 36609-1530