Cornerstone Community Financial Credit Union
Cornerstone Community Financial Credit Union is headquartered in Auburn Hills and is the 48th largest credit union in the state of Michigan. It is also the 855th largest credit union in the nation. It was established in 1951 and as of December of 2019, it had grown to 71 employees and 23,771 members at 7 locations. Cornerstone Community Financial Credit Union's money market rates are 36% higher than the national average, and it boasts an A+ health rating.
Field of Membership Restrictions
Cornerstone Community Financial CU of Michigan is open to anyone that does regular business in, business owners, residents, people maintaining employment, church members, and registered students in these Michigan Communities; Genesee, Jackson, Lapeer, Lenawee, Livingston, Macomb, Monroe, Oakland, St Clair, Washtenaw, and Wayne. Membership eligibility also extends to include the family members of CU members.
See current membership details
Related Posts
So many fees
I joined this bank several years ago. At first it was for a specific dollar amount deposit each week into the saving's. It earned some money so I decided to open a checking. That's when the fees really started to happen. Weekly the bank would have a computer error and I would have to call the bank to straiten it out. High fee's for transfers and the loan terms were not good either. Customer service had dropped and I was finally fed up when the bank had to refund me over 50 dollars in fees and a customer service representative had the nerve to call me crazy. I closed the account and actually saved money. The absolute best part is that my local branch was hit by a tornado when the bank was closed , Nobody was hurt and I am glad about it. It's about time mother nature took care of it .
No Access To My Account When I Am Away From Home.
I have checking/savings accounts at Cornerstone, and now that they have changed their system whereas I cannot log into my account unless I on my home computer (because I do not have a cell phone number to provide to them). Contrary to popular belief, everyone does not have a cell phone. I have a land line and cannot receive texts to give me a code to log into my account when I am away from home and on a different computer. I am a member at a different credit union, and they have the option to use an email address to get a code when you are away from home. Cornerstone's practice is biased to me because I do not have a cell phone.
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68641 |
| Year Chartered | 1951 |
| Employees | 71 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.51% |
| Return on Equity - YTD | 3.93% |
| Annual Interest Income | $12.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $289.5MM$285.2MM |
| Loans | Q4 2019vs Q4 2018 | $258.9MM$249.7MM |
| Deposits | Q4 2019vs Q4 2018 | $235.7MM$230.1MM |
| Equity Capital | Q4 2019vs Q4 2018 | $38.2MM$36.7MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $1.3MM$1.3MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $1.3MM$1.4MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $0$116.00K |