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SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION (SMSE)

Jun, 30, 2023 — SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION (SMSE) is a federal credit union headquartered in SOUTHFIELD, MI with 1 branch location and about $49.62 million in total assets. Opened 72 years ago in 1952, SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION (SMSE) has about 3,784 members and employs 12 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: 272478350
Name:SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION
Address:
(Main Office)
17135 W 10 Mile Rd
SOUTHFIELD, MI 48075-2933
Phone:(248) 557-2266
Fax:(248) 557-0453
Website:https://www.smsefcu.com
Branches:1 branch locations
Members:3,784
Credit Union Type:Federal Credit Union
Charter Number:7628
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1952
Last Audited:Apr 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$49,622,923
CEO/Manager:David Bickley
Chairperson:Robert C Andrews

Call Report

  • Payday Alternative Loans (PAL Loans)
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,269,993
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 468,164
 Unsecured Loans 5,495,000
 Other Loans 7,201,627
 TOTAL LOANS 13,164,791
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -219,960
 Land And Building 100,000
 Other Fixed Assets 84,672
 NCUSIF Deposit 429,619
 All Other Assets 0
  TOTAL ASSETS 49,622,923
LIABILITIES & CAPITAL:  
 Dividends Payable 15,481
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 230,932
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 11,058,530
 Regular shares 23,321,033
 All Other Shares & Deposits 11,576,781
  TOTAL SHARES & DEPOSITS 45,956,344
  TOTAL LIABILITIES 46,202,757
 Regular Reserve 0
 Other Reserves -1,148,158
 Undivided Earnings 4,568,324
  TOTAL EQUITY 3,420,166
  TOTAL LIABILITIES, SHARES, & EQUITY 49,622,923
INCOME & EXPENSE  
 Loan Income 747,606
 Investment Income 309,299
 Other Income 232,441
 Total Employee Compensation & Benefits 533,968
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 673,675
 Non-operating Income & (Expense) 5,467
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 116,650
 Cost of Funds 70,972
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 79,283
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