Dec, 31, 2023 — MCDOWELL CORNERSTONE CREDIT UNION is a federally insured state chartered credit union headquartered in MARION, NC with 1 branch location and about $34.36 million in total assets. Opened 57 years ago in 1967, MCDOWELL CORNERSTONE CREDIT UNION has about 2,659 members and employs 9 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 |
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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: | 2,659 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 60149 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1967 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $34,358,435 |
CEO/Manager: | TIM D KEENE |
Chairperson: | LISA A MORGAN |
ASSETS: | $ Amount |
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Cash & Equivalents | 7,374,299 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 11,779,284 |
Unsecured Loans | 699,386 |
Other Loans | 4,607,236 |
TOTAL LOANS | 17,154,421 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -201,322 |
Land And Building | 279,859 |
Other Fixed Assets | 5,140 |
NCUSIF Deposit | 295,172 |
All Other Assets | 3,500 |
TOTAL ASSETS | 34,358,435 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 617,169 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 6,131,825 |
Regular shares | 17,890,845 |
All Other Shares & Deposits | 4,063,894 |
TOTAL SHARES & DEPOSITS | 28,086,564 |
TOTAL LIABILITIES | 28,704,304 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 5,654,131 |
TOTAL EQUITY | 5,654,131 |
TOTAL LIABILITIES, SHARES, & EQUITY | 34,358,435 |
INCOME & EXPENSE | |
Loan Income | 692,242 |
Investment Income | 562,088 |
Other Income | 88,397 |
Total Employee Compensation & Benefits | 538,854 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 630,524 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 43,853 |
Cost of Funds | 38,461 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 100,000 |
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