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KALSEE CREDIT UNION

Dec, 31, 2020 — KALSEE CREDIT UNION is a federally insured state chartered credit union headquartered in KALAMAZOO, MI with 5 branch locations and about $232.51 million in total assets. Opened 67 years ago in 1954, KALSEE CREDIT UNION has about 22,749 members and employs 72 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 272481855
Name:KALSEE CREDIT UNION
Address:
(Main Office)
PO BOX 3006
KALAMAZOO, MI 49003-3006
Phone:(269) 382-7800
Fax:(269) 381-2407
Website:http://www.kalsee.com
Branches:5 branch locations
Members:22,749
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$232,510,221
CEO/Manager:Matt Lahman
Chairperson:David Stuut

Call Report

  • Commercial Loans
  • Credit Builder
  • Debt Cancellation/Suspension
  • Indirect Commercial Loans
  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Health Savings Accounts
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 39,418,056
TOTAL INVESTMENTS 19,494,119
Loans Held for Sale 1,595,938
 
 Real Estate Loans 47,890,315
 Unsecured Loans 15,546,469
 Other Loans 92,810,504
 TOTAL LOANS 156,247,288
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,060,687
 Land And Building 7,092,746
 Other Fixed Assets 476,413
 NCUSIF Deposit 1,902,226
 All Other Assets 7,344,122
  TOTAL ASSETS 232,510,221
LIABILITIES & CAPITAL:  
 Dividends Payable 42,193
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,266,040
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 50,736,650
 Regular shares 95,565,289
 All Other Shares & Deposits 60,411,769
  TOTAL SHARES & DEPOSITS 206,713,708
  TOTAL LIABILITIES 209,021,941
 Regular Reserve 3,349,944
 Other Reserves 178,520
 Undivided Earnings 19,959,816
  TOTAL EQUITY 23,488,280
  TOTAL LIABILITIES, SHARES, & EQUITY 232,510,221
INCOME & EXPENSE  
 Loan Income 7,808,824
 Investment Income 451,763
 Other Income 4,324,695
 Total Employee Compensation & Benefits 4,813,477
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 5,099,043
 Non-operating Income & (Expense) 332,372
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 572,871
 Cost of Funds 986,963
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,445,300
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