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National Credit Union Service Organization

MCDOWELL CORNERSTONE CREDIT UNION

Jun, 30, 2023 — MCDOWELL CORNERSTONE CREDIT UNION is a federally insured state chartered credit union headquartered in MARION, NC with 1 branch location and about $36.98 million in total assets. Opened 57 years ago in 1967, MCDOWELL CORNERSTONE CREDIT UNION has about 2,707 members and employs 6 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: 253176574
Name:MCDOWELL CORNERSTONE CREDIT UNION
Address:
(Main Office)
2031 RUTHERFORD RD
MARION, NC 28752
Phone:(828) 652-4141
Fax:(828) 652-9343
Website:https://www.mcdowellcornerstone.com
Branches:1 branch locations
Members:2,707
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:60149
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1967
Last Audited:Jun 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$36,982,772
CEO/Manager:Amy B JOHNSON
Chairperson:LISA A MORGAN

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 8,534,653
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 8,543,335
 Unsecured Loans 730,052
 Other Loans 2,620,579
 TOTAL LOANS 11,981,688
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -49,048
 Land And Building 306,261
 Other Fixed Assets 20,624
 NCUSIF Deposit 286,042
 All Other Assets 3,500
  TOTAL ASSETS 36,982,772
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 325,326
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,896,092
 Regular shares 20,406,661
 All Other Shares & Deposits 4,763,618
  TOTAL SHARES & DEPOSITS 31,066,371
  TOTAL LIABILITIES 31,391,697
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 5,591,075
  TOTAL EQUITY 5,591,075
  TOTAL LIABILITIES, SHARES, & EQUITY 36,982,772
INCOME & EXPENSE  
 Loan Income 430,069
 Investment Income 129,443
 Other Income 76,319
 Total Employee Compensation & Benefits 289,364
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 244,150
 Non-operating Income & (Expense) 18,844
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 16,572
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 110,993
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