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National Credit Union Service Organization

CORNING FEDERAL CREDIT UNION

Mar, 31, 2021 — CORNING FEDERAL CREDIT UNION is a federal credit union headquartered in CORNING, NY with 20 branch locations and about $2.02 billion in total assets. Opened 85 years ago in 1936, CORNING FEDERAL CREDIT UNION has about 126,836 members and employs 367 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: 222380359
Name:CORNING FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 1450
CORNING, NY 14830-1050
Phone:(607) 962-3144
Fax:
Website:http://www.corningcu.org
Branches:20 branch locations
Members:126,836
Credit Union Type:Federal Credit Union
Charter Number:1644
Membership Type:Multiple common bond - Primarily other manufacturing
Corporate Credit Union:No
Year Opened:1936
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$2,015,588,673
CEO/Manager:Gary Grinnell
Chairperson:Kurt R Fischer

Call Report

  • Commercial Loans
  • Credit Builder
  • Indirect Consumer Loans
  • Interest Only or Payment Option 1st Mortgage Loans
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • In-School Branches
  • Insurance/Investment Sales
  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 447,908,587
TOTAL INVESTMENTS 97,981,353
Loans Held for Sale 8,127,200
 
 Real Estate Loans 581,393,341
 Unsecured Loans 163,233,449
 Other Loans 702,500,359
 TOTAL LOANS 1,452,637,029
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -14,235,666
 Land And Building 32,396,224
 Other Fixed Assets 4,983,487
 NCUSIF Deposit 13,664,180
 All Other Assets -27,873,721
  TOTAL ASSETS 2,015,588,673
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 7,500,000
 Accounts Payable & Other Liabilities 48,341,177
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 525,640,411
 Regular shares 715,066,767
 All Other Shares & Deposits 540,229,429
  TOTAL SHARES & DEPOSITS 1,780,936,607
  TOTAL LIABILITIES 1,836,777,784
 Regular Reserve 0
 Other Reserves -1,882,216
 Undivided Earnings 180,693,105
  TOTAL EQUITY 178,810,889
  TOTAL LIABILITIES, SHARES, & EQUITY 2,015,588,673
INCOME & EXPENSE  
 Loan Income 13,776,169
 Investment Income 310,431
 Other Income 797,661
 Total Employee Compensation & Benefits 7,434,604
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 6,063,063
 Non-operating Income & (Expense) 5,727
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,809,595
 Cost of Funds 2,142,619
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 7,593,427
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