LIFE CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at www.lifecu.org for more information.
Dec, 31, 2022 — 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 65 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.
| 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 |
| 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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