DFI reports to Business, Transportation & Housing Agency Secretary Sunne Wright McPeak and Gov. The Department is responsible for administering state laws regulating state-licensed financial institutions: banks, credit unions, industrial banks, savings associations, trust companies, offices of foreign banks, issuers of travelers’ checks and payment instruments (money orders), and transmitters of money abroad. Like all California state-chartered banks, Cornerstone Community Bank deposits are insured by the Federal Deposit Insurance Corporation (FDIC), up to $100,000 per depositor.ĭFI supervises over 700 financial institutions. The Web site address is William Ellison will serve as President/CEO Raymond Anderson as Chief Financial Officer and Sherry Johnson as Chief Credit Officer. Each new bank has its unique characteristics, which range from serving a small community or ethnic community to offering special services for small businesses and professionals.Ĭornerstone Community Bank headquarters will be located at 705 Jefferson Street, Red Bluff, CA 96080. Use your online banking username and password to log in. Download Cornerstones mobile banking app for your iPhone® or Android. In addition, over 120 branches also opened their doors. If youre already an active online banking user, you can use the same username and password to set up mobile banking. During 2005, assets for our financial institution licensees grew from $249 billion to $290 billion,” added Kelley.ĭuring the last five years, 77 new state-chartered banks have opened with DFI approval. Cornerstone Community Financial Credit Union 1,153 followers on LinkedIn. Maintaining the integrity of financial services remains our primary mission as the industry continues to grow. Their role in business and industry are important to the economy and to our own personal well-being. “California’s financial institutions are symbols of safety and soundness. Kelley, Acting Commissioner of Financial Institutions. “I am pleased to welcome Cornerstone Community Bank – the 17th new bank to open in 2006 – and to report that state-chartered banks continue to grow and prosper in California,” said Michael A. Cornerstone Community Bank will open for business on Octoin Red Bluff, Tehama County, California with an initial capital of $12 million. Use of Online Banking is restricted to authorized Cornerstone Community FCU Members only. But while we're proud to deliver today's sophisticated technology, we've kept our pledge never to forget the exceptional personal service our members deserve at all times.San Francisco-The California Department of Financial Institutions (DFI) announced today that the Department has approved the opening of a new state bank. To help our members reach their personal financial goals, we offer financial products and services ranging from share certificates to Visa® credit cards to online banking. Today Cornerstone Community Financial is a progressive full-service financial institution still owned and operated by its members. Since 1994, the main office has been located in Auburn Hills, one of southeast Michigan's fastest-growing business communities. Before long a permanent branch was built in Center Line, followed later by branches in Perrysburg, Ohio and Detroit, Michigan. Founded in 1951 by a group of employees from the Chrysler Corporation's Center Line, Michigan parts division, the credit union earned that $1.18 in its first "office", located within Chrysler at the desk of one of the founding members.
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