Jun, 30, 2021 — LIFEWAY CREDIT UNION is a federally insured state chartered credit union headquartered in Nashville, TN with 1 branch location and about $48.28 million in total assets. Opened 67 years ago in 1954, LIFEWAY CREDIT UNION has about 2,447 members and employs 7 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) | 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: | 2,447 |
| 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, 2019 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $48,284,803 |
| CEO/Manager: | Douglas P Clinton |
| Chairperson: | Darrell K Bevill |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,155,741 |
| TOTAL INVESTMENTS | 17,672,197 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 18,195,936 |
| Unsecured Loans | 2,170,932 |
| Other Loans | 5,157,213 |
| TOTAL LOANS | 25,524,081 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -84,090 |
| Land And Building | 0 |
| Other Fixed Assets | 132,389 |
| NCUSIF Deposit | 398,757 |
| All Other Assets | 485,728 |
| TOTAL ASSETS | 48,284,803 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 23,423 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 96,931 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,244,625 |
| Regular shares | 12,645,076 |
| All Other Shares & Deposits | 22,746,177 |
| TOTAL SHARES & DEPOSITS | 43,635,878 |
| TOTAL LIABILITIES | 43,756,232 |
| Regular Reserve | 1,306,664 |
| Other Reserves | 0 |
| Undivided Earnings | 3,221,907 |
| TOTAL EQUITY | 4,528,571 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 48,284,803 |
| INCOME & EXPENSE | |
| Loan Income | 498,556 |
| Investment Income | 86,764 |
| Other Income | 19,752 |
| Total Employee Compensation & Benefits | 258,234 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 476,189 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 56,827 |
| Cost of Funds | 51,956 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -178,574 |
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