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LIFETIME FEDERAL CREDIT UNION

Dec, 31, 2023 — LIFETIME FEDERAL CREDIT UNION is a federal credit union headquartered in RICHARDSON, TX with 2 branch locations and about $56.12 million in total assets. Opened 75 years ago in 1949, LIFETIME FEDERAL CREDIT UNION has about 4,597 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 311078938
Name:LIFETIME FEDERAL CREDIT UNION
Address:
(Main Office)
1001 E Lookout Dr
RICHARDSON, TX 75082-4144
Phone:(972) 766-6732
Fax:(972) 766-8416
Website:https://lifetimefcu.org
Branches:2 branch locations
Members:4,597
Credit Union Type:Federal Credit Union
Charter Number:6012
Membership Type:Multiple common bond - Primarily finance, insurance, real estate, trade
Corporate Credit Union:No
Year Opened:1949
Last Audited:Sep 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$56,115,481
CEO/Manager:Darryl Trammell
Chairperson:Bryant Phipps

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,418,038
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 6,738,829
 Unsecured Loans 7,456,269
 Other Loans 17,060,846
 TOTAL LOANS 31,255,944
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -351,983
 Land And Building 0
 Other Fixed Assets 67,475
 NCUSIF Deposit 433,963
 All Other Assets 0
  TOTAL ASSETS 56,115,481
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 532,857
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,882,811
 Regular shares 23,686,703
 All Other Shares & Deposits 17,791,606
  TOTAL SHARES & DEPOSITS 45,361,120
  TOTAL LIABILITIES 45,893,977
 Regular Reserve 0
 Other Reserves 1,949,074
 Undivided Earnings 8,272,430
  TOTAL EQUITY 10,221,504
  TOTAL LIABILITIES, SHARES, & EQUITY 56,115,481
INCOME & EXPENSE  
 Loan Income 1,667,565
 Investment Income 393,245
 Other Income 524,576
 Total Employee Compensation & Benefits 941,387
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 896,886
 Non-operating Income & (Expense) -92
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 98,510
 Cost of Funds 751,567
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 103,597
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