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CORNERSTONE COMMUNITY CREDIT UNION

Dec, 31, 2021 — CORNERSTONE COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in FAIRFIELD, CT with 4 branch locations and about $69.34 million in total assets. Opened 88 years ago in 1934, CORNERSTONE COMMUNITY CREDIT UNION has about 5,641 members and employs 14 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:CORNERSTONE COMMUNITY CREDIT UNION
Address:
(Main Office)
1515 Black Rock Tpke
FAIRFIELD, CT 06825
Phone:(203) 366-1336
Fax:(866) 763-4180
Website:http://www.cornerstoneccu.com
Branches:4 branch locations
Members:5,641
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68674
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1934
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$69,337,935
CEO/Manager:RALPH CERVERO
Chairperson:KATHLEEN PEREZ

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,064,741
TOTAL INVESTMENTS 17,764,428
Loans Held for Sale 0
 
 Real Estate Loans 28,494,806
 Unsecured Loans 1,792,527
 Other Loans 7,151,784
 TOTAL LOANS 37,439,117
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -247,841
 Land And Building 1,916,586
 Other Fixed Assets 138,934
 NCUSIF Deposit 611,569
 All Other Assets 4,650,401
  TOTAL ASSETS 69,337,935
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 129,299
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 13,272,514
 Regular shares 42,734,410
 All Other Shares & Deposits 6,815,568
  TOTAL SHARES & DEPOSITS 62,822,492
  TOTAL LIABILITIES 62,951,791
 Regular Reserve 990,877
 Other Reserves 3,400,962
 Undivided Earnings 1,994,305
  TOTAL EQUITY 6,386,144
  TOTAL LIABILITIES, SHARES, & EQUITY 69,337,935
INCOME & EXPENSE  
 Loan Income 1,422,969
 Investment Income 336,945
 Other Income 346,185
 Total Employee Compensation & Benefits 1,292,323
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 766,700
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 10,074
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 50,184
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