Jun, 30, 2024 — 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 58 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.
| 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 |
| 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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