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SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION (SMSE)

Dec, 31, 2021 — SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION (SMSE) is a federal credit union headquartered in SOUTHFIELD, MI with 1 branch location and about $49.51 million in total assets. Opened 70 years ago in 1952, SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION (SMSE) has about 3,867 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:3,867
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:$49,513,828
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 7,462,108
TOTAL INVESTMENTS 28,036,684
Loans Held for Sale 0
 
 Real Estate Loans 435,901
 Unsecured Loans 5,629,811
 Other Loans 6,784,777
 TOTAL LOANS 12,850,489
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -265,779
 Land And Building 100,000
 Other Fixed Assets 99,266
 NCUSIF Deposit 386,298
 All Other Assets 844,762
  TOTAL ASSETS 49,513,828
LIABILITIES & CAPITAL:  
 Dividends Payable 16,574
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 185,036
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 10,166,246
 Regular shares 23,218,166
 All Other Shares & Deposits 11,404,375
  TOTAL SHARES & DEPOSITS 44,788,787
  TOTAL LIABILITIES 44,990,397
 Regular Reserve 294,791
 Other Reserves 34,390
 Undivided Earnings 4,194,250
  TOTAL EQUITY 4,523,431
  TOTAL LIABILITIES, SHARES, & EQUITY 49,513,828
INCOME & EXPENSE  
 Loan Income 1,028,745
 Investment Income 385,959
 Other Income 269,391
 Total Employee Compensation & Benefits 759,438
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 841,586
 Non-operating Income & (Expense) 7,304
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 50,497
 Cost of Funds 94,599
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 198,075
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