Overview / Commentary
LIFE Credit Union (TX) is headquartered in Denton and is the 250th largest credit union in the state of Texas. It is also the 3,226th largest credit union in the nation. It was established in 1973 and as of December of 2019, it had grown to 7 employees and 1,968 members at 2 locations. LIFE Credit Union (TX)'s CD rates are 11% higher than the national average, but it 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 Q4 2019
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.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 21279 |
| Year Chartered | 1973 |
| Employees | 7 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.48% |
| Return on Equity - YTD | 5.88% |
| Annual Interest Income | $1.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $22.0MM$21.9MM |
| Loans | Q4 2019vs Q4 2018 | $16.7MM$20.1MM |
| Deposits | Q4 2019vs Q4 2018 | $19.9MM$18.4MM |
| Equity Capital | Q4 2019vs Q4 2018 | $1.8MM$1.7MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $115.00K$192.00K |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $300.00K$76.00K |
| Real Estate Owned | Q4 2019vs Q4 2018 | $0$0 |