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.
Name: | LIVE LIFE FEDERAL CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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