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SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION (SMSE)

Sep, 30, 2021 — SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION (SMSE) is a federal credit union headquartered in SOUTHFIELD, MI with 1 branch location and about $48.65 million in total assets. Opened 70 years ago in 1952, SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION (SMSE) has about 3,882 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 ROAD
SOUTHFIELD, MI 48075
Phone:(248) 557-2266
Fax:(248) 557-0453
Website:http://www.smsefcu.com
Branches:1 branch locations
Members:3,882
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:$48,651,400
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 5,459,328
TOTAL INVESTMENTS 29,681,144
Loans Held for Sale 0
 
 Real Estate Loans 435,335
 Unsecured Loans 5,457,005
 Other Loans 7,024,351
 TOTAL LOANS 12,916,691
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -286,457
 Land And Building 100,000
 Other Fixed Assets 109,356
 NCUSIF Deposit 386,298
 All Other Assets 285,040
  TOTAL ASSETS 48,651,400
LIABILITIES & CAPITAL:  
 Dividends Payable 16,094
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 184,121
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 10,152,952
 Regular shares 22,588,176
 All Other Shares & Deposits 11,088,328
  TOTAL SHARES & DEPOSITS 43,829,456
  TOTAL LIABILITIES 44,029,671
 Regular Reserve 294,791
 Other Reserves 163,019
 Undivided Earnings 4,163,919
  TOTAL EQUITY 4,621,729
  TOTAL LIABILITIES, SHARES, & EQUITY 48,651,400
INCOME & EXPENSE  
 Loan Income 769,654
 Investment Income 300,527
 Other Income 191,125
 Total Employee Compensation & Benefits 571,276
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 619,656
 Non-operating Income & (Expense) 5,480
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 35,278
 Cost of Funds 70,807
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 167,744
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