Overview / Commentary
LIFE Credit Union (TX) is headquartered in Denton and is the 245th largest credit union in the state of Texas. It is also the 3,160th largest credit union in the nation. It was established in 1973 and as of December of 2020, it had grown to 6 employees and 2,057 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 Q4 2020
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 | 0.17% |
| Return on Equity - YTD | 2.43% |
| Annual Interest Income | $1.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $26.3MM$22.0MM |
| Loans | Q4 2020vs Q4 2019 | $23.1MM$16.7MM |
| Deposits | Q4 2020vs Q4 2019 | $24.2MM$19.9MM |
| Equity Capital | Q4 2020vs Q4 2019 | $1.8MM$1.8MM |
| Secondary Capital | Q4 2020vs Q4 2019 | $200.00K |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $137.00K$115.00K |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $700.00K$300.00K |
| Real Estate Owned | Q4 2020vs Q4 2019 | $0$0 |