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National Credit Union Service Organization

LIFE CREDIT UNION

Dec, 31, 2021 — LIFE CREDIT UNION is a federal credit union headquartered in NASHVILLE, TN with 1 branch location and about $41.80 million in total assets. Opened 64 years ago in 1958, LIFE CREDIT UNION has about 3,884 members and employs 9 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: 264080400
Name:LIFE CREDIT UNION
Address:
(Main Office)
2004 Hayes St Ste 120
NASHVILLE, TN 37203-2648
Phone:(615) 230-5433
Fax:(615) 321-5856
Website:www.lifecu.org
Branches:1 branch locations
Members:3,884
Credit Union Type:Federal Credit Union
Charter Number:24932
Membership Type:Multiple common bond - Primarily health care
Corporate Credit Union:No
Year Opened:1958
Last Audited:Dec 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$41,800,971
CEO/Manager:Pam N Nolen
Chairperson:Leroy E McIntosh

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 12,889,812
TOTAL INVESTMENTS 1,414,860
Loans Held for Sale 0
 
 Real Estate Loans 11,326,558
 Unsecured Loans 3,350,472
 Other Loans 11,970,475
 TOTAL LOANS 26,647,505
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -206,939
 Land And Building 0
 Other Fixed Assets 70,932
 NCUSIF Deposit 341,617
 All Other Assets 643,184
  TOTAL ASSETS 41,800,971
LIABILITIES & CAPITAL:  
 Dividends Payable 65,771
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 74,118
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,803,257
 Regular shares 13,447,274
 All Other Shares & Deposits 18,639,243
  TOTAL SHARES & DEPOSITS 37,889,774
  TOTAL LIABILITIES 38,029,663
 Regular Reserve 1,365,989
 Other Reserves 0
 Undivided Earnings 2,405,319
  TOTAL EQUITY 3,771,308
  TOTAL LIABILITIES, SHARES, & EQUITY 41,800,971
INCOME & EXPENSE  
 Loan Income 1,289,768
 Investment Income 19,592
 Other Income 263,355
 Total Employee Compensation & Benefits 880,928
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,101,619
 Non-operating Income & (Expense) 30,706
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 8,000
 Cost of Funds 128,060
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -104,193
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