LIFE CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://lifecu.org/ for more information.
Dec, 31, 2023 — LIFE CREDIT UNION is a federal credit union headquartered in Nashville, TN with 1 branch location and about $43.05 million in total assets. Opened 66 years ago in 1958, LIFE CREDIT UNION has about 3,843 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.
| 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: | https://lifecu.org/ |
| Branches: | 1 branch locations |
| Members: | 3,843 |
| 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: | $43,052,717 |
| CEO/Manager: | Pam N Nolen |
| Chairperson: | Leroy E McIntosh |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 14,376,427 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 12,015,284 |
| Unsecured Loans | 3,114,975 |
| Other Loans | 11,590,635 |
| TOTAL LOANS | 26,720,894 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -169,494 |
| Land And Building | 0 |
| Other Fixed Assets | 102,928 |
| NCUSIF Deposit | 341,617 |
| All Other Assets | 0 |
| TOTAL ASSETS | 43,052,717 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 46,811 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 105,917 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,109,797 |
| Regular shares | 15,540,851 |
| All Other Shares & Deposits | 18,761,715 |
| TOTAL SHARES & DEPOSITS | 40,412,363 |
| TOTAL LIABILITIES | 40,565,091 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,487,626 |
| TOTAL EQUITY | 2,487,626 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 43,052,717 |
| INCOME & EXPENSE | |
| Loan Income | 316,938 |
| Investment Income | 4,599 |
| Other Income | 67,812 |
| Total Employee Compensation & Benefits | 196,689 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 552,838 |
| Non-operating Income & (Expense) | 7,639 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 25,038 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -283,682 |
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