Sep, 30, 2025 — MCDOWELL CORNERSTONE CREDIT UNION is a federally insured state chartered credit union headquartered in MARION, NC with 1 branch location and about $37.16 million in total assets. Opened 59 years ago in 1967, MCDOWELL CORNERSTONE CREDIT UNION has about 2,673 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.
| 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: | 2,673 |
| 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, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $37,156,146 |
| CEO/Manager: | SHERRY G YOUNG |
| Chairperson: | LISA A MORGAN |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,877,038 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 16,942,241 |
| Unsecured Loans | 669,213 |
| Other Loans | 5,535,134 |
| TOTAL LOANS | 23,219,948 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -139,251 |
| Land And Building | 138,894 |
| Other Fixed Assets | 29,111 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 292,414 |
| All Other Assets | 3,500 |
| TOTAL ASSETS | 37,156,146 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 349,901 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,687,178 |
| Regular shares | 18,348,707 |
| All Other Shares & Deposits | 5,228,990 |
| TOTAL SHARES & DEPOSITS | 30,264,875 |
| TOTAL LIABILITIES | 30,618,351 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 6,537,795 |
| TOTAL EQUITY | 6,537,795 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 37,156,146 |
| INCOME & EXPENSE | |
| Loan Income | 980,818 |
| Investment Income | 293,733 |
| Other Income | 72,797 |
| Total Employee Compensation & Benefits | 394,303 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 460,039 |
| Non-operating Income & (Expense) | 48,972 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 32,002 |
| Cost of Funds | 109,348 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 456,701 |
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