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CORRY AREA SCHOOLS FEDERAL CREDIT UNION

Jun, 30, 2021 — CORRY AREA SCHOOLS FEDERAL CREDIT UNION is a federal credit union headquartered in CORRY, PA with 1 branch location and about $6.71 million in total assets. Opened 58 years ago in 1963, CORRY AREA SCHOOLS FEDERAL CREDIT UNION has about 637 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:637
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:$6,708,105
CEO/Manager:Steven M Tessmer
Chairperson:Howard A Laird

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,235,095
TOTAL INVESTMENTS 1,925,043
Loans Held for Sale 0
 
 Real Estate Loans 245,411
 Unsecured Loans 248,161
 Other Loans 943,848
 TOTAL LOANS 1,437,420
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -27,349
 Land And Building 48,360
 Other Fixed Assets 6,637
 NCUSIF Deposit 54,569
 All Other Assets 28,330
  TOTAL ASSETS 6,708,105
LIABILITIES & CAPITAL:  
 Dividends Payable 256
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 6,329
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,513,283
 Regular shares 4,626,353
 All Other Shares & Deposits 94,037
  TOTAL SHARES & DEPOSITS 6,233,673
  TOTAL LIABILITIES 6,240,258
 Regular Reserve 113,319
 Other Reserves 0
 Undivided Earnings 354,528
  TOTAL EQUITY 467,847
  TOTAL LIABILITIES, SHARES, & EQUITY 6,708,105
INCOME & EXPENSE  
 Loan Income 35,246
 Investment Income 4,885
 Other Income 2,041
 Total Employee Compensation & Benefits 21,028
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 45,848
 Non-operating Income & (Expense) 5,575
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -12,000
 Cost of Funds 492
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -6,586
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