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EIN 56-6077585

Mcdowell Cornerstone Credit Union

IRS 501(c) type
501(c)(14)
Num. employees
9
City
Marion
State
North Carolina
Year formed
1967
Most recent tax filings
2023-12-01
NTEE code, primary
W60: Financial Institutions, Credit Unions
Description
McDowell Cornerstone Credit Union aims to provide financial services to its members at reasonable rates and pay reasonable dividends on their savings deposits. With a total of 2,654 members, the credit union has a total of $29,995,337 in shares and offers 555 open loan accounts with a total loan amount of $12,235,999.
Related structure
Mcdowell Cornerstone Credit Union is child organization, under the parent exemption from State Chartered Credit Unions in North Carolina.
Total revenues
$1,351,692
2023
Total expenses
$1,251,692
2023
Total assets
$34,358,435
2023
Num. employees
9
2023

Program areas at Mcdowell Cornerstone Credit Union

Total Members 2690 Total Shares $27,981,423 Total Open Loan Accounts 640 Total Loan Amount $16,989,057

Personnel at Mcdowell Cornerstone Credit Union

NameTitleCompensation
Tim KeeneChief Executive Officer$86,000
Pat TrudeSup Comm Chairman / 1140 Sunny Grove Dr N , Nebo , NC$0
Bill Washburn8 Lamb Dr Marion NC$0

Financials for Mcdowell Cornerstone Credit Union

RevenuesFYE 12/2023
Total grants, contributions, etc.$0
Program services$789,604
Investment income and dividends$562,088
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$1,351,692

Form 990s for Mcdowell Cornerstone Credit Union

Fiscal year endingDate received by IRSFormPDF link
2023-122024-05-10990View PDF
2022-122023-05-04990View PDF
2021-122022-04-22990View PDF
2020-122021-06-30990View PDF
2019-122021-06-07990View PDF
...and 10 more Form 990s
Data update history
July 20, 2024
Updated personnel
Identified 2 new personnel
July 14, 2024
Posted financials
Added Form 990 for fiscal year 2023
February 26, 2024
Posted financials
Added Form 990 for fiscal year 2022
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
October 6, 2021
Posted financials
Added Form 990 for fiscal year 2020
Nonprofit Types
Credit unionsChapter / child organizations
Issues
No issues found
Characteristics
No characteristics found
General information
Address
PO Box 519
Marion, NC 28752
County
McDowell County, NC
Website URL
mcdowellcornerstone.com/ 
Phone
(828) 652-4141
IRS details
EIN
56-6077585
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1967
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
W60: Financial Institutions, Credit Unions
NAICS code, primary
522130: Credit Unions
Parent/child status
Child within group exemption
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