Mar, 31, 2021 — CORNERSTONE COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in LOCKPORT, NY with 5 branch locations and about $554.62 million in total assets. Opened 64 years ago in 1957, CORNERSTONE COMMUNITY FEDERAL CREDIT UNION has about 45,152 members and employs 121 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 COMMUNITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | PO BOX 830 LOCKPORT, NY 14095-0830 |
| Phone: | (716) 434-2290 |
| Fax: | (716) 434-8297 |
| Website: | http://cornerstonecommunityfcu.org |
| Branches: | 5 branch locations |
| Members: | 45,152 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 11723 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1957 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $554,617,654 |
| CEO/Manager: | Eric Hepkins |
| Chairperson: | David M Nemi |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 69,752,403 |
| TOTAL INVESTMENTS | 213,474,153 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 113,565,537 |
| Unsecured Loans | 34,645,200 |
| Other Loans | 100,700,677 |
| TOTAL LOANS | 248,959,070 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,446,355 |
| Land And Building | 7,675,016 |
| Other Fixed Assets | 570,911 |
| NCUSIF Deposit | 4,475,857 |
| All Other Assets | 12,156,599 |
| TOTAL ASSETS | 554,617,654 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,120,439 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 103,469,490 |
| Regular shares | 290,371,880 |
| All Other Shares & Deposits | 121,969,707 |
| TOTAL SHARES & DEPOSITS | 515,811,077 |
| TOTAL LIABILITIES | 518,931,516 |
| Regular Reserve | 6,373,734 |
| Other Reserves | 5,729,194 |
| Undivided Earnings | 23,583,210 |
| TOTAL EQUITY | 35,686,138 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 554,617,654 |
| INCOME & EXPENSE | |
| Loan Income | 2,705,561 |
| Investment Income | 713,950 |
| Other Income | 647,606 |
| Total Employee Compensation & Benefits | 2,339,681 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,948,839 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 52,718 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 597,375 |
| ↑ Back to Top | |