Press
Heritage Federal Credit Union receives Five-Star Rating from Bauer Financial
NEWBURGH, IN (June 11, 2014) — Heritage Federal Credit Union has been awarded the highest rating among credit unions, a Five-Star rating from Bauer Financial. According to this designation, Heritage Federal Credit Union is a safe, financially sound, recommended credit union that is operating well above regulatory capital requirements.
The Bauer Financial star rating system rates credit unions on a zero-to-five-star scale. These star ratings classify each credit union based upon a complex formula which factors in relevant data including, but not limited to: capital, historical trends, loan delinquencies, differences in the book and market values of the investment portfolio, profitability, repossessed assets, reserves, charge-offs, regulatory compliance and asset quality. Bauer Financial employs conservative measures when assigning these ratings and, consequently, the ratios will often be lower than those supplied by other analysts or the institutions themselves.
“Receiving the Five-Star rating from Bauer Financial reinforces the fact that Heritage Federal Credit Union is a safe and financially sound credit union, and it is an achievement that members, employees, and the volunteer board of directors can all be proud of”, said Ruth Jenkins, CCE, President and CEO of the credit union. “Heritage Federal Credit Union has been awarded this Five-Star rating multiple times throughout our history and serves to demonstrate the sustained strength of our operations.”
About Heritage Federal Credit Union
Heritage Federal Credit Union offers financial products and services to anyone who lives, works, worships or attends school in Vanderburgh or Warrick County, or has an immediate family member who does.
Heritage Federal Credit Union is a community-chartered Federal credit union with over $472 million in assets and serves more than 45,810 members, and operates seven branches in Vanderburgh and Warrick Counties in Southwestern Indiana. More information regarding Heritage Federal Credit Union can be located at www.hfcu.info