Overview / Commentary
LIFE Credit Union (TX) is headquartered in Cross Roads and is the 278th largest credit union in the state of Texas. It is also the 3,397th largest credit union in the nation. It was established in 1973 and as of September of 2024, it had grown to 4 employees and 1,820 members at 1 location. LIFE Credit Union (TX) has a F 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
F
Data as of Q3 2024
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 | 4 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -5.87% |
| Return on Equity - YTD | -213.01% |
| Annual Interest Income | $858K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2024vs Q3 2023 | $15.9MM$22.2MM |
| Loans | Q3 2024vs Q3 2023 | $12.9MM$19.7MM |
| Deposits | Q3 2024vs Q3 2023 | $15.1MM$18MM |
| Equity Capital | Q3 2024vs Q3 2023 | $475K$1.4MM |
| Loan Loss Allowance | Q3 2024vs Q3 2023 | $283K$291K |
| Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $583K$746K |
| Real Estate Owned | Q3 2024vs Q3 2023 | $0$0 |