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Southeast Michigan State Employees Credit Union

Overview
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Southeast Michigan State Employees Credit Union is a federal credit union based in Southfield, Michigan. It has been opened since 1952, for 68 years.

With around $35,880,000 in assets, Southeast Michigan State Employees Credit Union is considered to be an average size credit union.

About
Address 17135 W. 10 Mile Road
Southfield, Michigan 48075
Website http://www.smsefcu.com
Phone (248) 557-2266
Fax (248) 557-0453
CEO Martin C. Hansen
President of the Board Robert Andrews
Services Offered
Map
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Score Card
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68 years
Years in business
Opened in 1952
Well Capitalized
Net worth classification
Source: NCUA
4,048 members
Membership type: Federal, State, Local Government
Average number of members
324:1
Credit union member to staff ratio
324 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
$35,883,973
Total assets
Average size
1 branch
Compared with an average of 4 nationally and 4 in Michigan
Average number of branches
0.15%
Savings interest rate
Compared to 0.3% nationally
13.92%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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1 branch
Compared with an average of 4 nationally and 4 in Michigan
Average number of branches
Southeast Michigan State Employees Credit Union Branch Locations
Members
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4,048 members
Membership type: Federal, State, Local Government
Average number of members

With 4,048 members, the Southeast Michigan State Employees Credit Union is considered to be a medium size credit union. It is larger than 52% of credit unions.

Fees
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$101
Average fee per member
The average fee per member at the Southeast Michigan State Employees Credit Union is $101, which is very high compared to most credit unions. This rate is higher than 85% of all credit unions.
Fees are higher than average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Southeast Michigan State Employees Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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324:1
Credit union member to staff ratio
324 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
12 staff members
FTE (full-time equivalent)
8% of employees are part-time
12 full-time, 1 part-time

Southeast Michigan State Employees Credit Union has 12 full-time staff members and 1 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 92% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Southeast Michigan State Employees Credit Union has around 324 members per staff, a low ratio compared to other credit unions. This is a well staffed credit union.

Assets
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$35,883,973
Total assets
Average size
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
11.3%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$4,074
Average loan and lease size
Loan & lease sizes are very small. They are smaller than at 94% of credit unions.

Southeast Michigan State Employees Credit Union holds a total of $12,050,000 in loans and leases, which is about $4,074 per member on average.

Savings interest rate
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0.15%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Southeast Michigan State Employees Credit Union pays 0.15%.

Loan rates
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13.92%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
15.00%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
5.75%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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4.25%
New car loan rate
Compared to 4.0% nationally
5.75%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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6.00%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
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