Overview
What is Horizon Credit Union?
Horizon Credit Union is a state-chartered credit union located in Kingsport, Tennessee, with the address 1201 N Eastman Road, 37664. Established through mergers between three local credit unions, it serves the community by encouraging savings, maintaining member accounts, and offering loans. The organization's mission is to foster thrift, issue shares that maintain accounts, and lend funds to its members, temporarily investing any excess funds. Horizon Credit Union aims to support its members in achieving various financial goals, such as raising families, buying homes, and saving for retirement. With a workforce of 23 individuals, the credit union assists its members in their financial journey.
Official website here: www.myhorizoncu.org
Is Horizon Credit Union legitimate?
Horizon Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Horizon Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $226,739
Professional Fundraising Fees: $0
Other Salaries and Wages: $877,120
For more financial information, click here
Official website here: www.myhorizoncu.org
What is the mission statement of Horizon Credit Union?
Horizon Credit Union, a member-owned organization, is committed to promoting thrift and providing financial services to its members. The credit union encourages its members to save money and maintains their accounts. Any excess funds not currently required for liquidity or loans are temporarily invested. The primary function of Horizon Credit Union is to extend loans to its members, thereby supporting the financial goals of individuals within the community. The credit union assists members in achieving their aspirations, such as raising families, purchasing homes and vehicles, and planning for retirement. Established through the merger of several long-standing credit unions, Horizon Credit Union continues to expand its field of membership and adapt to the changing needs of its members.
Official website here: www.myhorizoncu.org
Who is the CEO of Horizon Credit Union?
Mark A Drinnon is the Coo of Horizon Credit Union.
Official website here: www.myhorizoncu.org
What is the revenue of Horizon Credit Union?
Horizon Credit Union's revenue in 2022 was $3,788,300.
Official website here: www.myhorizoncu.org
Who are the executives of Horizon Credit Union and what are their salaries?
The average compensation at Horizon Credit Union during 2022 was $47,994. There are 23 employees and 7 volunteers at Horizon Credit Union.
Here are 9 key members and their salaries:
- Compensation: $113,441
- Related: $0
- Other: $12,844
- Compensation: $88,043
- Related: $0
- Other: $12,412
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.myhorizoncu.org
Where can I find the form 990 for Horizon Credit Union?
Horizon Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.myhorizoncu.org
Learn more at the official website: www.myhorizoncu.org
Mission Statement of Horizon Credit Union
Horizon Credit Union, a state-chartered credit union, is primarily owned and operated by its members. Its mission is multifaceted, encompassing the promotion of thrift, the issuance of shares that maintain accounts, and the provision of loans to its members. Any funds that the credit union does not require for immediate liquidity or loan purposes are temporarily invested. This organization serves as a supportive platform, enabling individuals within the community to save money, secure loans, and work towards achieving various financial goals such as purchasing homes, vehicles, and building retirement plans.
Established through a series of mergers, Horizon Credit Union originated from three long-standing credit unions in Kingsport, Tennessee. The journey began with Municipal Employees Credit Union, which was founded in 1932. It later merged with Kingsport Post and Federal Credit Union in April 1999. Another merger took place in November 2014 with AGC Credit Union, leading to the adoption of the new name, Horizon Credit Union, effective from April 1, 2016. This name change reflected the expanded field of membership and the new direction of the credit union.
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Impact
October, 2024
Horizon Credit Union has a significant positive impact on the local community in Kingsport, Tennessee. By promoting thrift and providing accessible financial services, it plays a crucial role in the financial well-being of its members. The credit union offers a safe place for individuals to deposit their money, maintain accounts, and obtain loans, thereby facilitating essential financial activities such as home purchases, vehicle financing, and retirement planning.
As a member-owned institution, Horizon Credit Union is dedicated to aligning its services with the needs of its community members. The organization's history of mergers reflects its commitment to expanding access to financial resources and adapting to the evolving needs of the community it serves. By supporting the financial goals of its members, Horizon Credit Union enhances economic stability and growth within Kingsport, fostering a culture of saving and responsible borrowing.
Additionally, surplus funds that are not currently needed for loans are wisely invested, further contributing to the local economy. Horizon Credit Union’s mission aligns with its proactive approach to empower individuals and families in achieving their financial aspirations, making it an integral part of the community's economic fabric.
This information is meant to be a general summary of Horizon Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $168,593
- Program Service Revenue: $2,529,802
- Gross Receipts: $3,788,300
Assets and Liabilities:
- Total Assets: $63,707,219
- Total Liabilities: $57,782,568
- Net Assets: $5,924,651
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$1,722,816
FEE INCOME
Revenue
$806,986
Organization Details
Founding Year
1932
Phone
(423) 229-9463Principal Officer
Mark A Drinnon
Main Address
1201 N EASTMAN ROAD, KINGSPORT, TN, 37664
Website
www.myhorizoncu.orgNTEE Category
Code: W60 - Public benefit
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