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CORNERSTONE COMMUNITY FEDERAL CREDIT UNION

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.


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:6 branch locations
Members:45,486
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, 2019
FHLB Member:No
Low Income Designation:No
Assets:$515,187,825
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 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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