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.
Name: | LIFETIME FEDERAL CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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» See also Statement of Financial Condition