Dec, 31, 2022 — LIVE LIFE FEDERAL CREDIT UNION is a federal credit union headquartered in FRASER, MI with 1 branch location and about $57.36 million in total assets. Opened 71 years ago in 1952, LIVE LIFE FEDERAL CREDIT UNION has about 1,277 members and employs 15 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LIVE LIFE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 34200 Utica Rd FRASER, MI 48026 |
| Phone: | (586) 268-3720 |
| Fax: | (586) 268-3424 |
| Website: | https://livelifefcu.org |
| Branches: | 1 branch locations |
| Members: | 1,277 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7927 |
|---|---|
| Membership Type: | Multiple common bond - Primarily other manufacturing |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Oct 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $57,356,840 |
| CEO/Manager: | Karla Haglund |
| Chairperson: | Steven J Grogan |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,861,492 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 34,860,584 |
| Unsecured Loans | 1,049,836 |
| Other Loans | 8,383,715 |
| TOTAL LOANS | 44,294,135 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -541,456 |
| Land And Building | 1,724,502 |
| Other Fixed Assets | 370,485 |
| NCUSIF Deposit | 342,885 |
| All Other Assets | 0 |
| TOTAL ASSETS | 57,356,840 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 3,993,366 |
| Accounts Payable & Other Liabilities | 438,076 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 35,163,719 |
| Regular shares | 7,864,854 |
| All Other Shares & Deposits | 4,404,328 |
| TOTAL SHARES & DEPOSITS | 47,432,901 |
| TOTAL LIABILITIES | 51,864,343 |
| Regular Reserve | 0 |
| Other Reserves | -41,222 |
| Undivided Earnings | 5,533,719 |
| TOTAL EQUITY | 5,492,497 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 57,356,840 |
| INCOME & EXPENSE | |
| Loan Income | 1,140,481 |
| Investment Income | 64,300 |
| Other Income | 1,711,486 |
| Total Employee Compensation & Benefits | 930,708 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,635,897 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 141,000 |
| Cost of Funds | 56,493 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 385,109 |
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