Overview / Commentary
LIFE Credit Union (TX) is headquartered in Denton and is the 255th largest credit union in the state of Texas. It is also the 3,284th largest credit union in the nation. It was established in 1973 and as of June of 2019, it had grown to 6 employees and 1,967 members at 2 locations. LIFE Credit Union (TX)'s money market rates are 3X the national average, and it has a B 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
B
Data as of Q2 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 | 6 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.91% |
| Return on Equity - YTD | 11.23% |
| Annual Interest Income | $620.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2019vs Q2 2018 | $21.3MM$23.8MM |
| Loans | Q2 2019vs Q2 2018 | $18.5MM$21.5MM |
| Deposits | Q2 2019vs Q2 2018 | $19.5MM$19.0MM |
| Equity Capital | Q2 2019vs Q2 2018 | $1.8MM$2.1MM |
| Loan Loss Allowance | Q2 2019vs Q2 2018 | $179.00K$92.00K |
| Unbacked Noncurrent Loans | Q2 2019vs Q2 2018 | $82.00K$123.00K |
| Real Estate Owned | Q2 2019vs Q2 2018 | $0$0 |
Rates
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LIFE Credit Union (TX) Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.20% | $100 | - | IRA Share Account | |
| 0.20% | $100 | - | Vacation Club | |
| 0.20% | $100 | - | Membership/ LiFE Savings | |
| 0.20% | $10k | - | Business Savings | |
| 0.20% | $100 | - | Little life savings | |
| 0.20% | $100 | - | Christmas Club |
LIFE Credit Union (TX) Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.30% | $20k | - | Money Market |
LIFE Credit Union (TX) Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.00% | $10k | - | High Yield Checking | |
| 0.20% | $100 | - | Legacy Checking | |
| 0.15% | $5k | - | Life Checking | |
| 0.15% | $5k | - | Pivotal Checking | |
| 0.15% | $5k | - | Business Checking |
Locations
| LIFE Credit Union (TX) Locations | ||
|---|---|---|
| Branch Office | 3351 Unicorn Lake Blvd | Denton, TX 76210 |
| Branch Office | 8800 US Highway 380 Ste 200 | Crossroads, TX 76227-2515 |