Overview / Commentary
LIFE Credit Union (TX) is headquartered in Denton and is the 253rd largest credit union in the state of Texas. It is also the 3,206th largest credit union in the nation. It was established in 1973 and as of June of 2023, it had grown to 5 employees and 2,041 members at 2 locations. LIFE Credit Union (TX) has a C- health rating.
Field of Membership Restrictions
Membership in LIFE Credit Union is open to those who live, work, attend school or worship in Denton or Argyle, Texas.
See current membership details
Health
C-
Data as of Q2 2023
Learn why bank health mattersAdditional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. LIFE Credit Union (TX) has a low asset base, and a negative return on assets.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 21279 |
| Year Chartered | 1973 |
| Employees | 5 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -2.21% |
| Return on Equity - YTD | -37.27% |
| Annual Interest Income | $740.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $23.3MM$29.6MM |
| Loans | Q2 2023vs Q2 2022 | $20.3MM$27.2MM |
| Deposits | Q2 2023vs Q2 2022 | $19.8MM$23.8MM |
| Equity Capital | Q2 2023vs Q2 2022 | $1.5MM$2.1MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$106.00K |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $229.00K$118.00K |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |