New Horizons Credit Union is headquartered in Mobile and is the 21st largest credit union in the state of Alabama. It is also the 912st largest credit union in the nation. It was established in 1950 and as of September of 2013, it had grown to 65 employees and 34,152 members. New Horizons Credit Union's money market rates are 36% higher than the national average, and it has a B+ health rating.
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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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 September 30, 2013 New Horizons Credit Union had $1.64 million in non-current loans and owned real-estate with $16.05 million in equity and loan loss allowances on hand to cover it. This gives New Horizons Credit Union a Texas Ratio of 10.20% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for New Horizons Credit Union decreased dramatically from 15.14% as of September 30, 2012 to 10.20% as of September 30, 2013, resulting in a positive change of 32.59%.This indicates that the balance sheet and financial strength for New Horizons Credit Union has improved dramatically in recent periods.
In the past year, New Horizons Credit Union has increased its total deposits by $965,000, resulting in 0.53% 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 $200.53 million in assets with $16.05 million in equity, resulting in a capitalization level of 8.00%, which is average.
|Assets and Liabilities|
|Equity Capital||$14.62 million|
|Loan Loss Allowance||$1.42 million|
|Unbacked Noncurrent Loans||$1.62 million|
|Real Estate Owned||$21,000|
|Historic Data - September 2012|
|Equity Capital||$15.04 million|
|Loan Loss Allowance||$1.95 million|
|Unbacked Noncurrent Loans||$1.62 million|
|Real Estate Owned||$395,000|
|Profit Margin - Quarterly|
|Net Interest Margin||3.61%|
|Return on Assets||0.31%|
|Return on Equity||4.21%|
|Interest Income||$3.92 million|
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|0.40%||-||-||IRA Share Account|
|0.40%||-||-||Roth IRA Share Account|
|0.40%||-||-||CESA Share Account|
|0.60%||$100k||-||Money Market Account|
|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|
|1.05%||$500||-||36 Month IRA|
|1.05%||$500||-||36 Month Roth IRA|
|1.05%||$500||-||36 Month CESA|
|0.90%||$500||-||24 Month IRA|
|0.90%||$500||-||24 Month Roth IRA|
|0.90%||$500||-||24 Month CESA|
|0.55%||$500||-||12 Month IRA|
|0.55%||$500||-||12 Month Roth IRA|
|0.55%||$500||-||12 Month CESA|
|New Horizons Credit Union Locations|
|Branch Office||6320 Airport Blvd||Mobile, AL 36608|
|Branch Office||103 Saraland Blvd S||Saraland, AL 36571-2833|
|Branch Office||5501 Willis Rd||Theodore, AL 36582|
|Branch Office||7146 Stone Dr||Daphne, AL 36526-4825|
|Branch Office||2255 N McKenzie St||Foley, AL 36535-2319|
|Branch Office||1610 Government St||Mobile, AL 36604-1102|
|Branch Office||3385 Schillinger Rd N Ste 19||Semmes, AL 36575-5494|
|Branch Office||3445 Saint Stephens Rd||Mobile, AL 36612|
|Branch Office||622 Azalea Rd||Mobile, AL 36609-1530|