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SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION (SMSE)

Mar, 31, 2022 — SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION (SMSE) is a federal credit union headquartered in SOUTHFIELD, MI with 1 branch location and about $50.22 million in total assets. Opened 70 years ago in 1952, SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION (SMSE) has about 3,868 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:http://www.smsefcu.com
Branches:1 branch locations
Members:3,868
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$50,223,012
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 7,502,256
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 450,520
 Unsecured Loans 5,397,025
 Other Loans 6,964,571
 TOTAL LOANS 12,812,116
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -271,204
 Land And Building 100,000
 Other Fixed Assets 87,637
 NCUSIF Deposit 386,298
 All Other Assets 0
  TOTAL ASSETS 50,223,012
LIABILITIES & CAPITAL:  
 Dividends Payable 16,070
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 213,503
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 10,757,594
 Regular shares 23,718,456
 All Other Shares & Deposits 11,484,196
  TOTAL SHARES & DEPOSITS 45,960,246
  TOTAL LIABILITIES 46,189,819
 Regular Reserve 0
 Other Reserves -497,854
 Undivided Earnings 4,531,047
  TOTAL EQUITY 4,033,193
  TOTAL LIABILITIES, SHARES, & EQUITY 50,223,012
INCOME & EXPENSE  
 Loan Income 252,461
 Investment Income 81,511
 Other Income 74,908
 Total Employee Compensation & Benefits 166,672
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 229,749
 Non-operating Income & (Expense) 1,824
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 8,874
 Cost of Funds 23,412
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 42,006
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