Nhcu's Investment Strategies: Where Are Funds Allocated?

New Horizons Credit Union (NHCU) offers a range of financial services to its members, including savings accounts, loans, and investment opportunities. NHCU is a trusted financial partner that empowers its members to achieve their financial goals and make the most of their money. The credit union has been recognised for its efforts in encouraging members to save through various resources and account options. NHCU provides members with access to financial tools such as online and mobile banking, enabling them to manage their funds conveniently. In addition to financial services, NHCU also offers consultation and support to help members make informed financial decisions with confidence.

Home equity loans

New Horizons Credit Union (NHCU) offers home equity loans as one of its financial products. Home equity loans are a way to borrow money against the value of your home. This is also known as a “second mortgage” because you are taking out a loan on top of your primary mortgage.

NHCU's home equity loans can help you consolidate debt. For example, you can use the loan to pay off credit cards or fund home repairs, an additional room, or a vacation.

To qualify for a home equity loan, you will need to meet certain requirements. Lenders will typically look at your home equity, debt-to-income ratio, and credit score. NHCU requires a debt-to-income ratio of 43% or lower and a credit score of 620 or higher.

Before taking out a home equity loan, it is important to consider the pros and cons. While home equity loans offer lower interest rates and predictable payments, there is a risk of foreclosure if you default on the loan. Additionally, you will have to pay closing costs and interest on the entire loan amount. It is also important to remember that if you sell your home before fully repaying the loan, you will need to pay off the remaining balance.

Online banking

New Horizons Credit Union (NHCU) offers online banking services to its members. With NHCU's online banking, you can access your accounts and perform various financial transactions securely and conveniently, 24/7. Here are some key features and benefits of NHCU's online banking platform:

• Account Access: With NHCU's online banking, you can access your accounts anytime, anywhere. This includes the ability to view account balances, transaction history, and check images.
• Transfers and Payments: You can easily transfer funds between your accounts and schedule bill payments.
• Direct Deposit and Automatic Payments: You can set up direct deposits for your paychecks, government benefits, or investment income. Additionally, you can use the routing and account number to set up automatic payments for your recurring bills.
• E-Statements and Notifications: NHCU offers electronic statements (e-Statements) that are available securely through online banking. You'll receive notifications when your account statements or important notices are ready to view.
• Security: NHCU's online banking employs industry-leading security features, including 128-bit encryption and the Secure Sockets Layer protocol, to protect your personal and financial information.
• Mobile App: NHCU also provides a free mobile app for iOS and Android devices, allowing you to access your accounts, transfer funds, deposit checks remotely, and locate branches or ATMs from your smartphone.

Enrolling in Online Banking:

To enroll in NHCU's online banking, visit the NHCU website and click on the "Enroll for Online Banking" link. You will need to agree to the Online Banking Disclosure, provide your Social Security number, Primary Share Account number, and other requested information. You will then create a unique User ID and Password for secure login.

With NHCU's online banking, you can manage your finances, make payments, and stay connected to your accounts from the convenience of your home or on the go. For more detailed information about NHCU's online banking services, be sure to visit their website or contact their member support team.

Retirement funds

New Horizons Credit Union (NHCU) offers a range of financial products and services to meet the diverse needs of its members, including those looking to save for retirement. Here's an overview of how NHCU can help with retirement funds:

Retirement Savings Options

NHCU provides its members with opportunities to save for retirement securely. One option is their fully insured Certificate Accounts, which offer competitive rates. With as little as $500, members can open a 6-month Certificate at 4.50% APY or a 12-month Certificate at 4.25% APY. These accounts allow members to save for retirement safely while earning a solid return on their investments.

IRA Options

NHCU also offers Individual Retirement Accounts (IRAs) to help members save for their retirement goals. IRAs are a popular way to save for retirement as they often provide tax advantages. NHCU can help members choose the right type of IRA, such as a Traditional IRA or a Roth IRA, depending on their income, tax situation, and retirement objectives.

Home Equity Solutions

For those looking to boost their retirement funds, NHCU provides Home Equity Loans. These loans allow members to access a lump sum of money by borrowing against the equity in their homes. This can be used to pay off debts, make home improvements, or simply supplement retirement savings. NHCU's Home Equity Loans also offer the potential to defer some taxes, providing an additional financial benefit.

Online Banking and Financial Tools

NHCU makes it easy for members to manage their retirement funds with online banking and a free mobile app. Members can access their accounts anytime, transfer funds, and deposit checks remotely. Additionally, NHCU provides financial tools and resources to help members make informed decisions about their retirement savings. This includes webinars, like "Preparing for the Holidays," to help members plan their holiday spending confidently.

Personalized Service and Support

NHCU is committed to providing personalized service and support to its members. Their knowledgeable staff can offer professional financial advice and guidance tailored to individual retirement goals. With years of experience and a solid reputation, NHCU acts as a trusted partner on members' financial journeys, empowering them to make smart decisions to secure their future income.

Business accounts

New Horizons Credit Union offers a range of business accounts to meet the diverse financial needs of its members. With years of experience and a solid reputation, New Horizons Credit Union is a trusted partner for businesses looking to manage and grow their finances.

The credit union offers a comprehensive digital banking solution designed to streamline financial activities and enhance the overall banking experience. This includes access to global corporate cards, business accounts, and bill pay options. Real-time spend reporting and accounting integrations are also available, making it easier for businesses to track and manage their expenses.

For startups and growing companies, New Horizons Credit Union provides a full financial package tailored to support business growth. This includes automating travel expenses on a global scale, providing 24/7 account access, and offering no-fee access to thousands of ATMs nationwide.

As a member-owned, not-for-profit financial institution, New Horizons Credit Union prioritises serving its members rather than maximising profits. This means that businesses can benefit from better rates and lower fees. Profits are returned to members in the form of higher interest rates, better services, and lower loan rates.

New Horizons Credit Union also offers a range of checking and savings accounts to fit the unique needs of businesses. The basic Free Checking Account offers no monthly service fee, a no-cost Visa Debit Card, unlimited check writing, and 24/7 online and mobile banking. For those seeking more benefits, the Ultimate Checking Products provide additional perks, such as competitive dividend rates or cashback on qualifying debit card purchases.

With a focus on confidence, knowledge, and affordable services, New Horizons Credit Union empowers businesses to make smart financial decisions and reach their goals sooner.

Investment advice

New Horizons Credit Union (NHCU) is a trusted partner for your financial journey. NHCU offers a comprehensive range of financial products designed to meet diverse needs, whether you're looking to save, invest, borrow, or manage your finances.

• Certificate Accounts: NHCU offers fully insured certificate accounts with competitive interest rates. You can choose between a 6-month certificate at 4.50% APY or a 12-month certificate at 4.25% APY, requiring a minimum deposit of only $500. This is a great option for saving towards short-term financial goals, such as college, vacation, or even a down payment on a home.
• Home Equity Loans: If you're a homeowner, you can leverage the equity in your home to obtain a lump sum for various purposes, such as home repairs, renovations, or paying off debt. NHCU offers affordable home equity loans that may also assist with deferring some taxes.
• Ultimate Dividend Checking Account: This checking account allows you to earn more by performing tasks you may already do. The more you engage with your account, the higher the dividends you can earn.
• Retirement Accounts: NHCU can help you choose the right Individual Retirement Account (IRA) to meet your retirement goals. They offer various retirement account options to help you build a secure financial future.
• Investment Services: NHCU provides investment services to help you make smart decisions about your financial future. They offer professional financial advice and support, ensuring you have the knowledge and tools needed to make your money work harder for you.

In addition to these investment options, NHCU also provides online and mobile banking access, global corporate cards, business accounts, and real-time spend reporting for startups and growing companies.

Remember, NHCU is a credit union, so it operates as a member-owned, not-for-profit financial institution. This means that profits are returned to members through better rates and services, and you become part of a special organization that shares its profits and decision-making with its members.

Frequently asked questions