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National Credit Union Service Organization

LIVE LIFE FEDERAL CREDIT UNION

Dec, 31, 2023 — LIVE LIFE FEDERAL CREDIT UNION is a federal credit union headquartered in FRASER, MI with 1 branch location and about $67.80 million in total assets. Opened 72 years ago in 1952, LIVE LIFE FEDERAL CREDIT UNION has about 1,078 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 272485851
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:1,078
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:Sep 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$67,795,557
CEO/Manager:Karla Haglund
Chairperson:Steven J Grogan

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 19,488,419
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 33,434,864
 Unsecured Loans 1,055,890
 Other Loans 9,720,329
 TOTAL LOANS 44,211,083
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -269,870
 Land And Building 2,357,649
 Other Fixed Assets 192,422
 NCUSIF Deposit 351,956
 All Other Assets 0
  TOTAL ASSETS 67,795,557
LIABILITIES & CAPITAL:  
 Dividends Payable 61,955
 Notes & Interest Payable 3,553,345
 Accounts Payable & Other Liabilities 56,696
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 34,437,617
 Regular shares 6,975,644
 All Other Shares & Deposits 17,657,753
  TOTAL SHARES & DEPOSITS 59,071,011
  TOTAL LIABILITIES 62,743,007
 Regular Reserve 0
 Other Reserves -26,775
 Undivided Earnings 5,079,325
  TOTAL EQUITY 5,052,550
  TOTAL LIABILITIES, SHARES, & EQUITY 67,795,557
INCOME & EXPENSE  
 Loan Income 1,521,379
 Investment Income 417,283
 Other Income 1,327,269
 Total Employee Compensation & Benefits 1,355,091
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,034,771
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 33,733
 Cost of Funds 775,769
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -231,344
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