How We Began
In 1974, employees of United Telephone Company – Eastern Group petitioned the National Credit Union Administration and received a Federal Charter to incorporate and do business as United Telephone Employees Federal Credit Union (UTEFCU). United Telephone Company provided direct support during UTEFCU’s early years, offering company-paid, part-time employees; corporate office space; volunteer work site representatives, and more.
In 1994, the Board of Directors approved a name change to reflect the expanding diversity of our sponsored groups, thus the name Cornerstone Federal Credit Union. In 2008, our field of membership capabilities were expanded even more to include anyone who lives, works, worships, attends school or regularly conducts business in Cumberland County, including the entire borough of Shippensburg.
Combined with sound money management and identifying and responding to member financial service needs, the credit union has grown steadily and dramatically. In 2015, assets top $100 million. Currently, 36 credit union staff, many of whom are long-term employees, serve nearly 11,000 members from our full-service facilities in Carlisle and Newville, PA.
At Cornerstone, we are dedicated to providing the very best in quality financial services to meet the needs of our ever-growing membership. We provide a full range of products and services, many of which are not provided by other institutions.
Safety and Soundness
Safety and soundness is important to the financial well-being of the credit union. We consistently receive the highest (5 stars) rating awarded by Bauer Financial Reports, Inc., an independent research firm that monitors financial institutions nationwide. Our internal capital position exceeds 10 percent of our total assets. All member deposits are federally insured up to at least $250,000 by NCUA.