Dec, 31, 2023 — SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION (SMSE) is a federal credit union headquartered in SOUTHFIELD, MI with 1 branch location and about $48.57 million in total assets. Opened 72 years ago in 1952, SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION (SMSE) has about 3,581 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| 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: | 3,581 |
| 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, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $48,571,738 |
| CEO/Manager: | Martin C Hansen |
| Chairperson: | Robert C Andrews |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,089,111 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 494,672 |
| Unsecured Loans | 4,861,697 |
| Other Loans | 5,857,212 |
| TOTAL LOANS | 11,213,581 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -549,964 |
| Land And Building | 100,000 |
| Other Fixed Assets | 48,470 |
| NCUSIF Deposit | 427,995 |
| All Other Assets | 0 |
| TOTAL ASSETS | 48,571,738 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 24,715 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 190,181 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,789,461 |
| Regular shares | 23,327,389 |
| All Other Shares & Deposits | 10,247,053 |
| TOTAL SHARES & DEPOSITS | 44,363,903 |
| TOTAL LIABILITIES | 44,578,799 |
| Regular Reserve | 0 |
| Other Reserves | -774,972 |
| Undivided Earnings | 4,767,911 |
| TOTAL EQUITY | 3,992,939 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 48,571,738 |
| INCOME & EXPENSE | |
| Loan Income | 918,421 |
| Investment Income | 1,082,728 |
| Other Income | 286,634 |
| Total Employee Compensation & Benefits | 715,978 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 879,745 |
| Non-operating Income & (Expense) | 3,199 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 324,568 |
| Cost of Funds | 130,372 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 445,586 |
| ↑ Back to Top | |