Sep, 30, 2022 — LIFEWAY CREDIT UNION is a federally insured state chartered credit union headquartered in BRENTWOOD, TN with 1 branch location and about $44.22 million in total assets. Opened 69 years ago in 1954, LIFEWAY CREDIT UNION has about 2,004 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 |
|---|---|
| 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: | 2,004 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68172 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $44,222,969 |
| CEO/Manager: | Douglas P Clinton |
| Chairperson: | Mike Puckett |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,144,042 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 16,177,274 |
| Unsecured Loans | 1,840,531 |
| Other Loans | 5,044,575 |
| TOTAL LOANS | 23,062,380 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -100,812 |
| Land And Building | 0 |
| Other Fixed Assets | 206,924 |
| NCUSIF Deposit | 389,229 |
| All Other Assets | 0 |
| TOTAL ASSETS | 44,222,969 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 36,208 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,089,172 |
| Regular shares | 11,897,955 |
| All Other Shares & Deposits | 19,987,303 |
| TOTAL SHARES & DEPOSITS | 39,974,430 |
| TOTAL LIABILITIES | 40,010,638 |
| Regular Reserve | 0 |
| Other Reserves | 1,306,664 |
| Undivided Earnings | 2,905,667 |
| TOTAL EQUITY | 4,212,331 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 44,222,969 |
| INCOME & EXPENSE | |
| Loan Income | 636,405 |
| Investment Income | 142,962 |
| Other Income | 24,624 |
| Total Employee Compensation & Benefits | 440,195 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 603,243 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 41,000 |
| Cost of Funds | 53,939 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -252,971 |
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