Dec, 31, 2023 — CORNERSTONE FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in NASHVILLE, TN with 6 branch locations and about $597.96 million in total assets. Opened 62 years ago in 1962, CORNERSTONE FINANCIAL CREDIT UNION has about 47,888 members and employs 101 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 FINANCIAL CREDIT UNION |
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Address: (Main Office) | 1701 21st Ave s NASHVILLE, TN 37212-3703 |
Phone: | (615) 385-1616 |
Fax: | (615) 385-6845 |
Website: | https://www.bankcfcu.org |
Branches: | 6 branch locations |
Members: | 47,888 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 67972 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1962 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $597,961,600 |
CEO/Manager: | Donna M Young |
Chairperson: | Gary Cowan |
ASSETS: | $ Amount |
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Cash & Equivalents | 39,393,676 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 151,073,562 |
Unsecured Loans | 33,252,669 |
Other Loans | 300,782,086 |
TOTAL LOANS | 485,814,288 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,522,694 |
Land And Building | 12,807,818 |
Other Fixed Assets | 1,261,548 |
NCUSIF Deposit | 4,903,619 |
All Other Assets | 0 |
TOTAL ASSETS | 597,961,600 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 2,734,991 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 7,131,712 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 106,087,298 |
Regular shares | 163,215,436 |
All Other Shares & Deposits | 267,752,234 |
TOTAL SHARES & DEPOSITS | 537,054,968 |
TOTAL LIABILITIES | 547,056,056 |
Regular Reserve | 0 |
Other Reserves | -8,061,782 |
Undivided Earnings | 58,967,326 |
TOTAL EQUITY | 50,905,544 |
TOTAL LIABILITIES, SHARES, & EQUITY | 597,961,600 |
INCOME & EXPENSE | |
Loan Income | 23,601,439 |
Investment Income | 1,062,173 |
Other Income | 3,097,012 |
Total Employee Compensation & Benefits | 9,894,545 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 8,793,999 |
Non-operating Income & (Expense) | 100,112 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,085,000 |
Cost of Funds | 6,328,689 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 4,283,406 |
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