Dec, 31, 2020 — CORNERSTONE COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in LOCKPORT, NY with 6 branch locations and about $515.19 million in total assets. Opened 64 years ago in 1957, CORNERSTONE COMMUNITY FEDERAL CREDIT UNION has about 45,486 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 |
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Address: (Main Office) | PO BOX 830 LOCKPORT, NY 14095-0830 |
Phone: | (716) 434-2290 |
Fax: | (716) 434-8297 |
Website: | http://cornerstonecommunityfcu.org |
Branches: | 6 branch locations |
Members: | 45,486 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 11723 |
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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, 2019 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $515,187,825 |
CEO/Manager: | Eric Hepkins |
Chairperson: | David M Nemi |
ASSETS: | $ Amount |
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Cash & Equivalents | 50,107,470 |
TOTAL INVESTMENTS | 186,842,079 |
Loans Held for Sale | 0 |
Real Estate Loans | 111,822,918 |
Unsecured Loans | 37,075,321 |
Other Loans | 106,818,654 |
TOTAL LOANS | 255,769,510 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,471,337 |
Land And Building | 7,855,904 |
Other Fixed Assets | 494,545 |
NCUSIF Deposit | 4,475,857 |
All Other Assets | 12,113,797 |
TOTAL ASSETS | 515,187,825 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 2,591,791 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 91,560,852 |
Regular shares | 264,941,614 |
All Other Shares & Deposits | 118,350,776 |
TOTAL SHARES & DEPOSITS | 474,853,242 |
TOTAL LIABILITIES | 477,445,033 |
Regular Reserve | 6,373,734 |
Other Reserves | 8,383,223 |
Undivided Earnings | 22,985,835 |
TOTAL EQUITY | 37,742,792 |
TOTAL LIABILITIES, SHARES, & EQUITY | 515,187,825 |
INCOME & EXPENSE | |
Loan Income | 11,636,769 |
Investment Income | 2,841,069 |
Other Income | 5,605,825 |
Total Employee Compensation & Benefits | 9,775,032 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 7,311,339 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 35,000 |
Cost of Funds | 365,464 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,596,828 |
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