Sep, 30, 2025 — KALSEE CREDIT UNION is a federally insured state chartered credit union headquartered in PORTAGE, MI with 6 branch locations and about $282.73 million in total assets. Opened 72 years ago in 1954, KALSEE CREDIT UNION has about 21,984 members and employs 91 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | KALSEE CREDIT UNION |
|---|---|
| Address: (Main Office) | 5220 Lovers Ln Ste 200 PORTAGE, MI 49002 |
| Phone: | (269) 382-7800 |
| Fax: | (269) 382-7890 |
| Website: | https://www.kalsee.com |
| Branches: | 6 branch locations |
| Members: | 21,984 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61219 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $282,732,062 |
| CEO/Manager: | Matt Lahman |
| Chairperson: | David Stuut |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,548,393 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 311,600 |
| Real Estate Loans | 86,041,986 |
| Unsecured Loans | 19,105,495 |
| Other Loans | 120,164,217 |
| TOTAL LOANS | 225,311,698 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,682,099 |
| Land And Building | 9,883,042 |
| Other Fixed Assets | 1,176,756 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 2,220,691 |
| All Other Assets | 0 |
| TOTAL ASSETS | 282,732,062 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 172,448 |
| Notes & Interest Payable | 4,250,000 |
| Accounts Payable & Other Liabilities | 1,509,352 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 60,264,246 |
| Regular shares | 90,971,843 |
| All Other Shares & Deposits | 100,230,461 |
| TOTAL SHARES & DEPOSITS | 251,466,550 |
| TOTAL LIABILITIES | 257,398,350 |
| Regular Reserve | 0 |
| Other Reserves | -3,433,070 |
| Undivided Earnings | 28,766,782 |
| TOTAL EQUITY | 25,333,712 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 282,732,062 |
| INCOME & EXPENSE | |
| Loan Income | 10,187,998 |
| Investment Income | 991,944 |
| Other Income | 1,705,947 |
| Total Employee Compensation & Benefits | 5,396,195 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 5,560,947 |
| Non-operating Income & (Expense) | 18,629 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,151,088 |
| Cost of Funds | 2,618,465 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 744,854 |
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