Dec, 31, 2023 — CORNER STONE CREDIT UNION is a federally insured state chartered credit union headquartered in LANCASTER, TX with 2 branch locations and about $21.38 million in total assets. Opened 72 years ago in 1952, CORNER STONE CREDIT UNION has about 3,600 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | CORNER STONE CREDIT UNION |
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Address: (Main Office) | 130 historic town sq LANCASTER, TX 75146 |
Phone: | (972) 218-9266 |
Fax: | (972) 218-5887 |
Website: | https://www.cornerstonecreditunion.net/ |
Branches: | 2 branch locations |
Members: | 3,600 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68011 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1952 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $21,378,941 |
CEO/Manager: | stacey mcdonald |
Chairperson: | Kenneth r Govan |
ASSETS: | $ Amount |
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Cash & Equivalents | 851,750 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 1,375,113 |
Unsecured Loans | 2,517,347 |
Other Loans | 10,501,032 |
TOTAL LOANS | 14,393,492 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -112,500 |
Land And Building | 249,629 |
Other Fixed Assets | 60,021 |
NCUSIF Deposit | 187,966 |
All Other Assets | 0 |
TOTAL ASSETS | 21,378,941 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 222,073 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 3,531,943 |
Regular shares | 11,568,643 |
All Other Shares & Deposits | 4,180,463 |
TOTAL SHARES & DEPOSITS | 19,281,049 |
TOTAL LIABILITIES | 19,503,122 |
Regular Reserve | 0 |
Other Reserves | 1,143,855 |
Undivided Earnings | 731,964 |
TOTAL EQUITY | 1,875,819 |
TOTAL LIABILITIES, SHARES, & EQUITY | 21,378,941 |
INCOME & EXPENSE | |
Loan Income | 1,001,491 |
Investment Income | 135,508 |
Other Income | 408,770 |
Total Employee Compensation & Benefits | 620,027 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 733,528 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 102,127 |
Cost of Funds | 82,292 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 50,035 |
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