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National Credit Union Service Organization

LIFE CREDIT UNION

Dec, 31, 2021 — LIFE CREDIT UNION is a federally insured state chartered credit union headquartered in NASHVILLE, TN with 1 branch location and about $41.16 million in total assets. Opened 64 years ago in 1958, LIFE CREDIT UNION has about 3,922 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)
2010 CHURCH ST STE 204
NASHVILLE, TN 37203-2078
Phone:(615) 230-5433
Fax:(615) 321-5856
Website:www.lifecu.org
Branches:1 branch locations
Members:3,922
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67689
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1958
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$41,157,346
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 12,400,883
TOTAL INVESTMENTS 1,514,860
Loans Held for Sale 0
 
 Real Estate Loans 10,768,586
 Unsecured Loans 3,299,359
 Other Loans 12,266,868
 TOTAL LOANS 26,334,813
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -202,148
 Land And Building 0
 Other Fixed Assets 19,170
 NCUSIF Deposit 341,617
 All Other Assets 748,151
  TOTAL ASSETS 41,157,346
LIABILITIES & CAPITAL:  
 Dividends Payable 66,094
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 103,025
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,490,198
 Regular shares 13,927,457
 All Other Shares & Deposits 17,793,549
  TOTAL SHARES & DEPOSITS 37,211,204
  TOTAL LIABILITIES 37,380,323
 Regular Reserve 1,365,990
 Other Reserves 0
 Undivided Earnings 2,411,033
  TOTAL EQUITY 3,777,023
  TOTAL LIABILITIES, SHARES, & EQUITY 41,157,346
INCOME & EXPENSE  
 Loan Income 970,745
 Investment Income 15,389
 Other Income 188,588
 Total Employee Compensation & Benefits 662,762
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 836,613
 Non-operating Income & (Expense) 23,009
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 8,000
 Cost of Funds 100,844
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -98,477
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