Dec, 31, 2023 — KALSEE CREDIT UNION is a federally insured state chartered credit union headquartered in PORTAGE, MI with 6 branch locations and about $275.46 million in total assets. Opened 70 years ago in 1954, KALSEE CREDIT UNION has about 22,850 members and employs 81 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: | 22,850 |
| 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, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $275,464,551 |
| CEO/Manager: | Matt Lahman |
| Chairperson: | David Stuut |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,620,476 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 65,442,184 |
| Unsecured Loans | 18,309,338 |
| Other Loans | 114,081,451 |
| TOTAL LOANS | 197,832,972 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,382,019 |
| Land And Building | 10,080,748 |
| Other Fixed Assets | 1,683,114 |
| NCUSIF Deposit | 2,401,199 |
| All Other Assets | 0 |
| TOTAL ASSETS | 275,464,551 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 102,812 |
| Notes & Interest Payable | 6,000,000 |
| Accounts Payable & Other Liabilities | 3,534,798 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 56,259,623 |
| Regular shares | 109,637,541 |
| All Other Shares & Deposits | 79,312,876 |
| TOTAL SHARES & DEPOSITS | 245,210,040 |
| TOTAL LIABILITIES | 254,847,650 |
| Regular Reserve | 0 |
| Other Reserves | -6,405,790 |
| Undivided Earnings | 27,022,691 |
| TOTAL EQUITY | 20,616,901 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 275,464,551 |
| INCOME & EXPENSE | |
| Loan Income | 10,658,418 |
| Investment Income | 1,495,768 |
| Other Income | 4,029,496 |
| Total Employee Compensation & Benefits | 6,032,305 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,793,082 |
| Non-operating Income & (Expense) | 158,296 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,135,554 |
| Cost of Funds | 2,149,004 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,419,972 |
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