Dec, 31, 2023 — LIFEWAY CREDIT UNION is a federally insured state chartered credit union headquartered in BRENTWOOD, TN with 1 branch location and about $38.53 million in total assets. Opened 70 years ago in 1954, LIFEWAY CREDIT UNION has about 1,892 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: | LIFEWAY CREDIT UNION |
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Address: (Main Office) | 215 Centerview Dr Ste 3-111 BRENTWOOD, TN 37027 |
Phone: | (615) 251-2089 |
Fax: | (615) 251-3728 |
Website: | https://www.koincu.org |
Branches: | 1 branch locations |
Members: | 1,892 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68172 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1954 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $38,532,996 |
CEO/Manager: | Douglas P Clinton |
Chairperson: | Mike Puckett |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,017,831 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 17,075,935 |
Unsecured Loans | 1,851,365 |
Other Loans | 5,211,119 |
TOTAL LOANS | 24,138,419 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -152,929 |
Land And Building | 0 |
Other Fixed Assets | 218,455 |
NCUSIF Deposit | 339,978 |
All Other Assets | 0 |
TOTAL ASSETS | 38,532,996 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 37,422 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 53,816 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 7,167,881 |
Regular shares | 10,581,132 |
All Other Shares & Deposits | 17,165,876 |
TOTAL SHARES & DEPOSITS | 34,914,889 |
TOTAL LIABILITIES | 35,006,127 |
Regular Reserve | 0 |
Other Reserves | 1,306,664 |
Undivided Earnings | 2,220,205 |
TOTAL EQUITY | 3,526,869 |
TOTAL LIABILITIES, SHARES, & EQUITY | 38,532,996 |
INCOME & EXPENSE | |
Loan Income | 1,030,844 |
Investment Income | 280,083 |
Other Income | 28,317 |
Total Employee Compensation & Benefits | 653,265 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 841,961 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 317,514 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -367,522 |
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» See also Statement of Financial Condition