2020-11-12T08:47:43-06:00 2019-12-31 472604526 GARVEY STEELE & BANCROFT LLP PO BOX 397 MYSTIC CT 063550397 990 2019-01-01 041126132 BROTHERHOOD CREDIT UNION BROT 7815985555 75 MARKET STREET LYNN MA 01901 ADAM H SHERMAN CFO 7815985555 2020-11-12 true MICHAEL R GARVEY CPA P00264137 8605369831 2020-11-12 23.30.174.89 2020-11-12 08:47:43 CS P B2254A06A2C91071D1D5A32245BC2B972FCA5CF6 6BDD9D78118851DB28C1934977A64F3FE6C32256 2019 2022-01-07 14:23:13Z ADAM H SHERMAN 75 MARKET STREET LYNN MA 01901 3315721 false X BROTHERHOODCU.ORG X 1934 MA CREDIT UNION MEMBER SERVICES 10 9 21 9 10938 0 1599538 1684364 1252170 1403260 264253 228097 3115961 3315721 4000 3000 0 1404671 1643965 0 0 1485024 1590059 2893695 3237024 222266 78697 105972783 108574290 64649542 64034007 41323241 44540283 CREDIT UNION MEMBER SERVICES false false MAINTENANCE OF MEMBERS' ACCOUNTS AND THE PAYMENT OF INTEREST AND DIVIDENDS THEREON. NUMBER OF DEPOSIT ACCOUNTS IS 6,855. NUMBER OF LOAN ACCOUNTS IS 1,166. false false false false false false false true false true false false false true false false false false false false false false false false false false false false true false true false false false false false false false false false false false false true 1296 0 true 21 true true true false false false false false false false X 10 9 true false true false true true true true true false true true false false false false true true false MA X X ADAM H SHERMAN 7815985555 75 MARKET STREET LYNN MA 01901 JAMES J SHERMAN PRESIDENT & 40.00 X X 168801 0 16655 MARILYN DESIMONE SR OPERATION 40.00 X 138156 0 20480 ADAM H SHERMAN CFO 40.00 X 102563 0 31112 JOSE ALAS-RUIZ DIRECTOR 2.00 X 0 0 0 MICHAEL COHEN DIRECTOR 2.00 X 0 0 0 HOWARD FIELD DIRECTOR 2.00 X 0 0 0 RICHARD KESSEL DIRECTOR 2.00 X 0 0 0 DARREN KLEIN DIRECTOR 2.00 X 0 0 0 HUBERT KREPLICK CLERK 2.00 X X 0 0 0 SCOTT SAGAN DIRECTOR 2.00 X 0 0 0 EDWARD I SHADOFF DIRECTOR 2.00 X 0 0 0 MARTIN SHUMAN TREASURER 3.00 X X 0 0 0 409520 68247 3 false true false FISERV INC 255 FISERV DRIVE BROOKFIELD WI 53045 IT 320088 1 INTEREST ON LOANS 1684364 1684364 1684364 1403260 1403260 MISCELLANEOUS 141610 141610 SERVICE CHARGES AND FEES 64193 64193 MEMBER INSURANCE 11356 11356 10938 10938 228097 3315721 3304783 10938 3000 477767 856721 61195 143448 104834 3260 19842 99039 50531 280234 167098 29991 544607 70226 43758 ELAN EXPENSE 76740 SHARE DRAFT PROCESSING 46686 MAINTENANCE 35564 LOAN SERVICING 28055 94428 3237024 0 0 0 2820146 4053266 39461924 38491080 412202 397545 44794676 44531795 73887 107187 2657313 1892265 771311 765048 16472542 19108113 164000 164000 1002095 956256 105972783 108574290 105522 42507 347745 326177 64196275 63665323 64649542 64034007 X 41323241 44540283 41323241 44540283 105972783 108574290 78697 3138345 X false false false false true X 49000 49000 1868722 1224712 644010 99105 99105 42221 42221 598265 526227 72038 765048 MEMBER DEPOSIT ACCOUNTS 63640099 OTHER LIABILITIES-SUSPENSE ACCOUNTS 25224 63665323 SCHEDULE D, PAGE 2, PART IV, LINE 2B MORTGAGE ESCROW ACCOUNTS HELD FOR THE PAYMENT OF REAL ESTATE TAXES FOR MUNICIPALITIES. X true true X X false false false JAMES J SHERMAN PRESIDENT & DIRECTOR 168801 16050 605 185456 MARILYN DESIMONE SR OPERATION OFFICER 137656 500 1326 19154 158636 ADAM H SHERMAN CFO FIRST MORTGAGE X 390000 366057 false true true DARREN KLEIN DIRECTOR AUTO X 23326 16838 false true true MICHAEL COHEN DIRECTOR MASS HEAT LOAN X 8000 6400 false true true HOWARD FIELD DIRECTOR AUTO X 15025 5643 false true true ADAM H SHERMAN CFO HELOC X 45000 2607 false true true 397545 FORM 990, PAGE 1, PART I, LINE 6 BOARD OF DIRECTORS WHO ARE VOLUNTEERS AND RECEIVE NO COMPENSATION FOR THEIR SERVICES. FORM 990, PAGE 6, PART VI, LINE 2 JAMES J. SHERMAN HUBERT KREPLICK PRESIDENT DIRECTOR BROTHER IN LAW DARREN KLEIN HUBERT KREPLICK DIRECTOR DIRECTOR SON IN LAW DARREN KLEIN JAMES J. SHERMAN DIRECTOR PRESIDENT NEPHEW ADAM H. SHERMAN JAMES J. SHERMAN CFO PRESIDENT SON ADAM H. SHERMAN HUBERT KREPLICK CFO DIRECTOR NEPHEW FORM 990, PAGE 6, PART VI, LINE 4 THE CREDIT UNION'S BYLAWS WERE CHANGED AT A SPECIAL SHAREHOLDERS MEETING ON MAY 7, 2019. THE CHANGE WAS AS FOLLOWS: THE BOARD OF DIRECTORS SHALL CONSIST OF A MINIMUM OF NINE MEMBERS DIVIDED INTO THREE GROUPS, AS NEARLY EQUAL IN NUMBERS AS POSSIBLE. THE TERMS OF THESE GROUPS OF DIRECTORS SHALL EXPIRE IN CONSECUTIVE YEARS. FORM 990, PAGE 6, PART VI, LINE 6 PERSONS WHO MEET THE REQUIREMENTS OF THE ORGANIZATIONS'S FIELD OF MEMBERSHIP WHO HOLD AT LEAST ONE SHARE OF THE CAPITAL. FORM 990, PAGE 6, PART VI, LINE 7A EACH MEMBER HAS A VOTE AT THE ELECTION OF THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 7B ANY CHANGES TO THE INCORPORATING DOCUMENTS, I.E. BYLAWS ARE APPROVED BY THE MEMBERSHIP. FORM 990, PAGE 6, PART VI, LINE 11B THE 990 AND 990T ARE REVIEWED BY THE PRESIDENT, TREASURER, AND AUDIT COMMITTEE FIRST. THE BOARD THEN REVIEWS AND VOTES TO ACCEPT. DUE TO THE TIMING OF THE PREPARATION OF THE RETURN, THE REVIEW MAY BE AFTER THE RETURN IS FILED. FORM 990, PAGE 6, PART VI, LINE 15A COMPENSATION FOR THE CEO/TOP MANAGEMENT IS APPROVED BY THE BOARD. ANY INCREASE IS NOTED IN THE MINUTES. A COMPARISON OF THE INDUSTRY IS PERFORMED. FORM 990, PAGE 6, PART VI, LINE 15B COMPENSATION FOR THE CEO/TOP MANAGEMENT IS APPROVED BY THE BOARD. ANY INCREASE IS NOTED IN THE MINUTES. A COMPARISON OF THE INDUSTRY IS PERFORMED. FORM 990, PAGE 6, PART VI, LINE 19 INFORMATION IS POSTED IN THE CREDIT UNION LOBBY AND AVAILABLE UPON REQUEST.