Dec, 31, 2021 — LIFEWAY CREDIT UNION is a federally insured state chartered credit union headquartered in NASHVILLE, TN with 1 branch location and about $47.68 million in total assets. Opened 68 years ago in 1954, LIFEWAY CREDIT UNION has about 2,183 members and employs 8 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) | 1 LifeWay Plz Ste 20 NASHVILLE, TN 37234-1001 |
Phone: | (615) 251-2089 |
Fax: | (615) 251-3728 |
Website: | http://www.lifewaycu.org |
Branches: | 1 branch locations |
Members: | 2,183 |
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, 2020 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $47,682,395 |
CEO/Manager: | Douglas P Clinton |
Chairperson: | Darrell K Bevill |
ASSETS: | $ Amount |
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Cash & Equivalents | 5,651,876 |
TOTAL INVESTMENTS | 17,688,197 |
Loans Held for Sale | 0 |
Real Estate Loans | 16,928,730 |
Unsecured Loans | 1,822,086 |
Other Loans | 4,738,809 |
TOTAL LOANS | 23,489,625 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -90,817 |
Land And Building | 0 |
Other Fixed Assets | 143,372 |
NCUSIF Deposit | 398,757 |
All Other Assets | 401,385 |
TOTAL ASSETS | 47,682,395 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 199,197 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 8,068,147 |
Regular shares | 12,111,735 |
All Other Shares & Deposits | 22,838,014 |
TOTAL SHARES & DEPOSITS | 43,017,896 |
TOTAL LIABILITIES | 43,217,093 |
Regular Reserve | 1,306,664 |
Other Reserves | 0 |
Undivided Earnings | 3,158,638 |
TOTAL EQUITY | 4,465,302 |
TOTAL LIABILITIES, SHARES, & EQUITY | 47,682,395 |
INCOME & EXPENSE | |
Loan Income | 924,264 |
Investment Income | 158,001 |
Other Income | 44,315 |
Total Employee Compensation & Benefits | 511,502 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 771,682 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 106,117 |
Cost of Funds | 94,546 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -241,842 |
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