Mar, 31, 2021 — CROSSPOINT FEDERAL CREDIT UNION is a federal credit union headquartered in HAMDEN, CT with 4 branch locations and about $146.84 million in total assets. Opened 85 years ago in 1936, CROSSPOINT FEDERAL CREDIT UNION has about 10,425 members and employs 26 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: | http://www.crosspointfcu.org |
| Branches: | 4 branch locations |
| Members: | 10,425 |
| 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, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $146,839,201 |
| CEO/Manager: | Michael J Hinchey |
| Chairperson: | James Finch |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,611,718 |
| TOTAL INVESTMENTS | 72,148,404 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 39,199,201 |
| Unsecured Loans | 4,744,821 |
| Other Loans | 14,736,035 |
| TOTAL LOANS | 58,680,057 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,296,521 |
| Land And Building | 0 |
| Other Fixed Assets | 208,062 |
| NCUSIF Deposit | 1,168,513 |
| All Other Assets | 3,318,968 |
| TOTAL ASSETS | 146,839,201 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,376,743 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 19,194,918 |
| Regular shares | 62,178,527 |
| All Other Shares & Deposits | 50,876,810 |
| TOTAL SHARES & DEPOSITS | 132,250,255 |
| TOTAL LIABILITIES | 133,626,998 |
| Regular Reserve | 1,551,542 |
| Other Reserves | 965,394 |
| Undivided Earnings | 10,695,267 |
| TOTAL EQUITY | 13,212,203 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 146,839,201 |
| INCOME & EXPENSE | |
| Loan Income | 644,841 |
| Investment Income | 234,598 |
| Other Income | 122,501 |
| Total Employee Compensation & Benefits | 531,013 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 449,987 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,000 |
| Cost of Funds | 74,149 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 93,848 |
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