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New Horizon Credit Union

Overview
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New Horizon Credit Union is a federal credit union based in Barberton, Ohio. It has been opened since 1935, for 85 years.

With around $20,240,000 in assets, New Horizon Credit Union is considered to be a medium size credit union.

About
Address 180 2nd Street SW
Barberton, Ohio 44203
Website http://www.newhorizonfcu.com
Phone (330) 745-8897
Fax (330) 745-8055
CEO Michael T. Heidenreich
President of the Board William Stirgwolt
Services Offered
Map
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Score Card
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85 years
Years in business
Opened in 1935
Well Capitalized
Net worth classification
Source: NCUA
2,174 members
Membership type: Community credit union
Below average number of members
334:1
Credit union member to staff ratio
334 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
$20,237,927
Total assets
Below average
1 branch
Compared with an average of 4 nationally and 3 in Ohio
Above average number of branches
0.11%
Savings interest rate
Compared to 0.3% nationally
10.27%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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1 branch
Compared with an average of 4 nationally and 3 in Ohio
Above average number of branches
New Horizon Credit Union Branch Locations

New Horizon Credit Union: Main Office
180 2nd Street SW
Barberton, Ohio 44203
No ATM
Members
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2,174 members
Membership type: Community credit union
Below average number of members

With 2,174 members, the New Horizon Credit Union is considered to be a small credit union. It is smaller than 63% of credit unions.

Fees
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$57
Average fee per member
The average fee per member at the New Horizon Credit Union is $57, which is comparable to most credit unions. This rate is lower than 42% of all credit unions.
Fees are average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the New Horizon Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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334:1
Credit union member to staff ratio
334 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
6 staff members
FTE (full-time equivalent)
14% of employees are part-time
6 full-time, 1 part-time

New Horizon Credit Union has 6 full-time staff members and 1 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 86% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. New Horizon Credit Union has around 334 members per staff, a low ratio compared to other credit unions. This is a well staffed credit union.

Assets
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$20,237,927
Total assets
Below average
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
10.9%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$10,349
Average loan and lease size
Loan & lease sizes are average sized. They are bigger than at 52% of credit unions.

New Horizon Credit Union holds a total of $13,770,000 in loans and leases, which is about $10,349 per member on average.

Savings interest rate
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0.11%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. New Horizon Credit Union pays 0.11%.

Loan rates
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10.27%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
12.41%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
2.70%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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4.25%
New car loan rate
Compared to 4.0% nationally
6.58%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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6.17%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.82%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
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