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CORRY AREA SCHOOLS FEDERAL CREDIT UNION

Dec, 31, 2020 — CORRY AREA SCHOOLS FEDERAL CREDIT UNION is a federal credit union headquartered in CORRY, PA with 1 branch location and about $5.95 million in total assets. Opened 58 years ago in 1963, CORRY AREA SCHOOLS FEDERAL CREDIT UNION has about 648 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:CORRY AREA SCHOOLS FEDERAL CREDIT UNION
Address:
(Main Office)
22 SOUTH 1ST AVE
CORRY, PA 16407
Phone:(814) 665-5291
Fax:(814) 665-5036
Website:http://www.corryschoolsfcu.com
Branches:1 branch locations
Members:648
Credit Union Type:Federal Credit Union
Charter Number:15501
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1963
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$5,947,033
CEO/Manager:Steven M Tessmer
Chairperson:Howard A Laird

Call Report

  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Check Cashing

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,221,917
TOTAL INVESTMENTS 1,032,043
Loans Held for Sale 0
 
 Real Estate Loans 383,478
 Unsecured Loans 271,922
 Other Loans 929,402
 TOTAL LOANS 1,584,802
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -36,096
 Land And Building 47,059
 Other Fixed Assets 7,662
 NCUSIF Deposit 46,653
 All Other Assets 42,993
  TOTAL ASSETS 5,947,033
LIABILITIES & CAPITAL:  
 Dividends Payable 231
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 4,240
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,381,123
 Regular shares 3,993,016
 All Other Shares & Deposits 93,989
  TOTAL SHARES & DEPOSITS 5,468,128
  TOTAL LIABILITIES 5,472,599
 Regular Reserve 113,319
 Other Reserves 0
 Undivided Earnings 361,115
  TOTAL EQUITY 474,434
  TOTAL LIABILITIES, SHARES, & EQUITY 5,947,033
INCOME & EXPENSE  
 Loan Income 81,883
 Investment Income 32,646
 Other Income 8,228
 Total Employee Compensation & Benefits 48,576
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 88,385
 Non-operating Income & (Expense) 12,555
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -10,000
 Cost of Funds 2,114
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 6,237
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