To say that 2020 was challenging for Horizon Credit Union would be an understatement. As the Federal, State and local governments struggled to prevent the spread of the COVID-19 pandemic, HCU worked diligently to serve our Members while maintaining the health of our staff and Membership. In March of 2020, the credit union shut down branch lobbies and implemented “drive-thru services” only to Members. HCU opened lobbies back up on May 18th, 2020.
The Cares Act Stimulus Payments enacted by the Federal Government to stimulate the economy had a significant impact on total deposits and assets of HCU. Total Member deposits increased by $6,129,618 and our total assets increased by $5,179,892.
June 1, 2020 was conversion day for HCU and our Membership. HCU successfully converted to Sharetec Data Processing Platform. Change is never easy and without problems, but now that we are on the other side and things are running smoothly, we are very happy with the new products and services we can offer our Members. As a small credit union in a fast-paced transaction environment, convenience and technology are important to maintaining and attracting Members.
Horizon Credit Union was audited by the CPA firm Pershing, Yokely and Associates (PYA) CPA firm. Three internal audits as well as the annual audit were complete in 2019. There were no significant findings and in their opinion, the books and records of Horizon Credit Union are accurately represented. The 2020 audit is now underway.
With a renewed conviction of our original strategy that began in 1932, HCU is dedicated to serving our Membership and potential Membership with personal service that stays in our hometowns of East Tennessee and Southwest Virginia, within our 100-mile radius. HCU is small enough to know Members by name and family association, our only reason for being in existence is to serve our Members and help them purchase vehicles, homes and to make that process easy and enjoyable. HCU will serve you when planning your new home purchase to saving for retirement. Our commitment to you is sincere. Thank you for supporting your hometown local credit union for the last 89 years. Serving Members since 1932.