Life Credit Union

Organization Overview

Life Credit Union is located in Nashville, TN. The organization was established in 1952. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2020, Life Credit Union employed 13 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Life Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2020, Life Credit Union generated $2.2m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $2.4m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

LIFE CREDIT UNION EXISTS TO CREATE PERSONALIZED, LIFELONG FINANCIAL RELATIONSHIPS WITH EVERY MEMBER WE SERVE. WE OFFER AN EXTENSIVE LINE OF LOAN SERVICES, AND SAVINGS AND CHECKING ACCOUNTS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDING FINANCIAL SERVICES FOR APPROXIMATELY 4000 MEMBERS INCLUDING SAVINGS, CHECKING, LOANS, CONSUMER RESEARCH AND FINANCIAL COUNSELING


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Board, Officers & Key Employees

Name (title)Compensation
Pam Nolen
President/ceo
$170,339
Jim Drew
Secretary
$0
Alex Whitley
Treasurer
$0
Robin Baggett
Board Member
$0
Bubba Mcintosh
Chair Person
$0
Jennifer Causey
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$626,456
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$626,456
Total Program Service Revenue$1,491,269
Investment income $41,647
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $150
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,184,095

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