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MCDOWELL CORNERSTONE CREDIT UNION

Mar, 31, 2022 — MCDOWELL CORNERSTONE CREDIT UNION is a federally insured state chartered credit union headquartered in MARION, NC with 1 branch location and about $35.87 million in total assets. Opened 55 years ago in 1967, MCDOWELL CORNERSTONE CREDIT UNION has about 2,701 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:http://www.mcdowellcornerstone.com
Branches:1 branch locations
Members:2,701
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$35,871,639
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 14,789,053
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 9,006,729
 Unsecured Loans 679,030
 Other Loans 2,096,402
 TOTAL LOANS 11,814,270
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -49,201
 Land And Building 316,821
 Other Fixed Assets 24,006
 NCUSIF Deposit 253,954
 All Other Assets 3,500
  TOTAL ASSETS 35,871,639
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 595,432
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,506,641
 Regular shares 19,735,306
 All Other Shares & Deposits 4,559,348
  TOTAL SHARES & DEPOSITS 29,801,295
  TOTAL LIABILITIES 30,396,727
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 5,474,912
  TOTAL EQUITY 5,474,912
  TOTAL LIABILITIES, SHARES, & EQUITY 35,871,639
INCOME & EXPENSE  
 Loan Income 134,322
 Investment Income 14,033
 Other Income 25,640
 Total Employee Compensation & Benefits 93,490
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 83,444
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 5,367
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -5,170
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