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SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION (SMSE)

Jun, 30, 2021 — SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION (SMSE) is a federal credit union headquartered in SOUTHFIELD, MI with 1 branch location and about $48.05 million in total assets. Opened 69 years ago in 1952, SOUTHEAST MICHIGAN STATE EMPLOYEES CREDIT UNION (SMSE) has about 4,005 members and employs 13 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:4,005
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$48,050,732
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 2,800,294
TOTAL INVESTMENTS 31,493,412
Loans Held for Sale 0
 
 Real Estate Loans 454,098
 Unsecured Loans 5,647,969
 Other Loans 6,775,978
 TOTAL LOANS 12,878,045
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -294,933
 Land And Building 100,000
 Other Fixed Assets 89,297
 NCUSIF Deposit 386,298
 All Other Assets 598,319
  TOTAL ASSETS 48,050,732
LIABILITIES & CAPITAL:  
 Dividends Payable 16,198
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 201,611
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 9,612,758
 Regular shares 22,596,388
 All Other Shares & Deposits 11,103,782
  TOTAL SHARES & DEPOSITS 43,312,928
  TOTAL LIABILITIES 43,530,737
 Regular Reserve 294,791
 Other Reserves 133,675
 Undivided Earnings 4,091,529
  TOTAL EQUITY 4,519,995
  TOTAL LIABILITIES, SHARES, & EQUITY 48,050,732
INCOME & EXPENSE  
 Loan Income 508,528
 Investment Income 207,499
 Other Income 120,700
 Total Employee Compensation & Benefits 369,320
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 408,745
 Non-operating Income & (Expense) 3,657
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 29,178
 Cost of Funds 47,287
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 95,354
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