Dec, 31, 2023 — CORNERSTONE CREDIT UNION is a federally insured state chartered credit union headquartered in FREEPORT, IL with 3 branch locations and about $142.50 million in total assets. Opened 85 years ago in 1939, CORNERSTONE CREDIT UNION has about 9,511 members and employs 36 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | CORNERSTONE CREDIT UNION |
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Address: (Main Office) | 550 W Meadows Dr FREEPORT, IL 61032-7610 |
Phone: | (815) 235-5855 |
Fax: | (815) 235-5970 |
Website: | https://www.cornerstonecu.org |
Branches: | 3 branch locations |
Members: | 9,511 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 60189 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1939 |
Last Audited: | Dec 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $142,504,905 |
CEO/Manager: | Gail L Clore |
Chairperson: | Connie Kraft |
ASSETS: | $ Amount |
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Cash & Equivalents | 4,189,238 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 39,361,130 |
Unsecured Loans | 2,941,486 |
Other Loans | 50,096,224 |
TOTAL LOANS | 92,398,839 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -872,139 |
Land And Building | 3,440,859 |
Other Fixed Assets | 244,876 |
NCUSIF Deposit | 1,205,683 |
All Other Assets | 0 |
TOTAL ASSETS | 142,504,905 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 9,497 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 2,115,415 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 25,581,217 |
Regular shares | 54,268,459 |
All Other Shares & Deposits | 45,865,861 |
TOTAL SHARES & DEPOSITS | 125,715,537 |
TOTAL LIABILITIES | 127,840,449 |
Regular Reserve | 0 |
Other Reserves | 2,364,029 |
Undivided Earnings | 12,300,427 |
TOTAL EQUITY | 14,664,456 |
TOTAL LIABILITIES, SHARES, & EQUITY | 142,504,905 |
INCOME & EXPENSE | |
Loan Income | 4,422,695 |
Investment Income | 1,652,652 |
Other Income | 1,088,852 |
Total Employee Compensation & Benefits | 2,628,642 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,548,171 |
Non-operating Income & (Expense) | 1,834 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 81,569 |
Cost of Funds | 2,109,903 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 552,779 |
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