Dec, 31, 2023 — CROSSPOINT FEDERAL CREDIT UNION is a federal credit union headquartered in HAMDEN, CT with 4 branch locations and about $153.08 million in total assets. Opened 88 years ago in 1936, CROSSPOINT FEDERAL CREDIT UNION has about 10,361 members and employs 29 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CROSSPOINT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 105 Sanford St HAMDEN, CT 06514 |
| Phone: | (203) 288-1695 |
| Fax: | (203) 230-9435 |
| Website: | https://www.crosspointfcu.org |
| Branches: | 4 branch locations |
| Members: | 10,361 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1309 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Oct 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $153,079,635 |
| CEO/Manager: | Darlene White |
| Chairperson: | Warren Petroskey |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,392,027 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 49,579,329 |
| Unsecured Loans | 5,512,994 |
| Other Loans | 12,764,230 |
| TOTAL LOANS | 67,856,553 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -924,866 |
| Land And Building | 0 |
| Other Fixed Assets | 415,255 |
| NCUSIF Deposit | 1,364,919 |
| All Other Assets | 0 |
| TOTAL ASSETS | 153,079,635 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,496,087 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 20,409,212 |
| Regular shares | 57,010,902 |
| All Other Shares & Deposits | 58,057,187 |
| TOTAL SHARES & DEPOSITS | 135,477,301 |
| TOTAL LIABILITIES | 136,973,388 |
| Regular Reserve | 0 |
| Other Reserves | 2,558,652 |
| Undivided Earnings | 13,547,595 |
| TOTAL EQUITY | 16,106,247 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 153,079,635 |
| INCOME & EXPENSE | |
| Loan Income | 3,591,629 |
| Investment Income | 1,428,259 |
| Other Income | 631,272 |
| Total Employee Compensation & Benefits | 2,534,885 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,349,159 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,500 |
| Cost of Funds | 817,499 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 901,780 |
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