Dec, 31, 2020 — CROSSPOINT FEDERAL CREDIT UNION is a federal credit union headquartered in HAMDEN, CT with 4 branch locations and about $142.66 million in total assets. Opened 85 years ago in 1936, CROSSPOINT FEDERAL CREDIT UNION has about 10,744 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: | 10,744 |
| 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: | $142,657,040 |
| CEO/Manager: | Michael J Hinchey |
| Chairperson: | James Finch |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 15,275,768 |
| TOTAL INVESTMENTS | 67,855,972 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 36,346,376 |
| Unsecured Loans | 5,147,973 |
| Other Loans | 14,629,352 |
| TOTAL LOANS | 56,123,701 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,265,811 |
| Land And Building | 0 |
| Other Fixed Assets | 210,096 |
| NCUSIF Deposit | 1,168,513 |
| All Other Assets | 3,288,801 |
| TOTAL ASSETS | 142,657,040 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,522,951 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 19,369,243 |
| Regular shares | 58,398,030 |
| All Other Shares & Deposits | 50,248,365 |
| TOTAL SHARES & DEPOSITS | 128,015,638 |
| TOTAL LIABILITIES | 129,538,589 |
| Regular Reserve | 1,551,542 |
| Other Reserves | 965,491 |
| Undivided Earnings | 10,601,418 |
| TOTAL EQUITY | 13,118,451 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 142,657,040 |
| INCOME & EXPENSE | |
| Loan Income | 2,686,365 |
| Investment Income | 1,203,905 |
| Other Income | 1,179,668 |
| Total Employee Compensation & Benefits | 2,184,720 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,136,047 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 168,957 |
| Cost of Funds | 427,136 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 153,078 |
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