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CORNERSTONE COMMUNITY FEDERAL CREDIT UNION

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.


ABA Routing Number: 222381293
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

Call Report

  • Commercial Loans
  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Health Savings Accounts
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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
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