METRO CREDIT UNION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- METRO CREDIT UNION (EIN 04-1695745)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-12
- IRS object ID
- 202503169349305410
- Schema version
- 2024v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-11-12T12:44:23-06:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 042689883 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WOLF & COMPANY PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 255 STATE STREET | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02109 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 041695745 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | METRO CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | METR | BusinessNameControlTxt |
| Phone | 8776963876 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 REVERE BEACH PARKWAY | AddressLine1Txt |
| City | CHELSEA | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02150 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DIANA CORDEIRO | PersonNm |
| Person Title | INTERIM CFO | PersonTitleTxt |
| Phone | 6174885470 | PhoneNum |
| Signature | 2025-11-07 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | KAREN S NG | PreparerPersonNm |
| PTIN | P01067482 | PTIN |
| Phone | 6174399700 | PhoneNum |
| Preparation | 2025-11-07 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ROBERT M CASHMAN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 REVERE BEACH PARKWAY | AddressLine1Txt |
| City | CHELSEA | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02150 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $248,842,064 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.METROCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1926 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | METRO CREDIT UNION PROVIDES LOAN AND DEPOSIT PRODUCTS TO MEMBERS THAT ASSIST THEM IN MEETING THEIR FINANCIAL NEEDS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 11 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 400 | TotalEmployeeCnt |
| Total Volunteers | 10 | TotalVolunteersCnt |
| Total Gross UBI | $212,221 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $136,025,065 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $156,368,323 | CYProgramServiceRevenueAmt |
| PY Investment Income | $9,914,621 | PYInvestmentIncomeAmt |
| CY Investment Income | $14,730,944 | CYInvestmentIncomeAmt |
| PY Other Revenue | $3,522,185 | PYOtherRevenueAmt |
| CY Other Revenue | $2,260,617 | CYOtherRevenueAmt |
| PY Total Revenue | $149,461,871 | PYTotalRevenueAmt |
| CY Total Revenue | $173,359,884 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $358,347 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $322,106 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $32,210,606 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $34,431,358 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $101,953,435 | PYOtherExpensesAmt |
| CY Other Expenses | $131,354,009 | CYOtherExpensesAmt |
| PY Total Expenses | $134,522,388 | PYTotalExpensesAmt |
| CY Total Expenses | $166,107,473 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $14,939,483 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $7,252,411 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $3,414,191,630 | TotalAssetsBOYAmt |
| Total Assets EOY | $3,440,032,348 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $3,157,759,150 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $3,164,194,252 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $256,432,480 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $275,838,096 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SEE SCHEDULE O | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | METRO CREDIT UNION PROVIDES LOAN AND DEPOSIT PRODUCTS TO MEMBERS THAT ASSIST THEM IN MEETING THEIR FINANCIAL NEEDS. AS OF 12/31/2024, METRO CREDIT UNION HAS NET LOANS OF $2,939 MILLION AND SHARE DEPOSITS OF $2,714 MILLION. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | Yes (1) | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | Yes (1) | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | Yes (1) | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 67633 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 400 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 11 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DIANA CORDEIRO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6174885470 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 REVERE BEACH PARKWAY | AddressLine1Txt |
| City | CHELSEA | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02150 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (25 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| ROBERT M CASHMAN | ||||||||
| PRESIDENT/CEO/DIRECTOR | 40.00 | Yes (X) | Yes (X) | $1,585,056 | $0 | $63,264 | ||
| DAVID HOLZMAN | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| ARNOLD S BAER | ||||||||
| DIRECTOR/ASSISTANT CLERK | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| BION FOSTER | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| JOSEPH ZANG | ||||||||
| DIRECTOR (ENDED 8/2024) | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| DONNA LEE | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| JOHN IMBERGAMO | ||||||||
| DIRECTOR/VICE CHAIRMAN | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| PETER HARRIS | ||||||||
| DIRECTOR/TREASURER | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| PAUL M GULKO | ||||||||
| DIRECTOR/CLERK | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| MARK SMOLLER | ||||||||
| DIRECTOR/CHAIRMAN | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| ADAM FRANK | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| MARTA ROSA | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| CHARLENE BAUER | ||||||||
| SVP MEMBER EXPERIENCE | 40.00 | $265,569 | $0 | $27,993 | Yes (X) | |||
| LAWRENCE STANDFORD | ||||||||
| SVP/CFO | 40.00 | $302,457 | $0 | $9,536 | Yes (X) | |||
| TRACI MICHEL | ||||||||
| SVP/COO & CSO | 40.00 | $466,859 | $0 | $38,048 | Yes (X) | |||
| KEVIN MALONE | ||||||||
| SVP SENIOR COMMERICIAL LENDER | 40.00 | $358,492 | $0 | $32,764 | Yes (X) | |||
| AMYLYNN MOODY | ||||||||
| CHIEF PEOPLE OFFICER | 40.00 | $295,199 | $0 | $13,217 | Yes (X) | |||
| JAMES HERNDON | ||||||||
| SVP HUMAN RESOURCES | 40.00 | $230,792 | $0 | $29,997 | Yes (X) | |||
| MARIA A JUSTINIANO | ||||||||
| SVP LENDING | 40.00 | $310,479 | $0 | $36,856 | Yes (X) | |||
| MONICA SANTOS | ||||||||
| SVP/CHIEF MARKETING (AS OF 6/2024) | 40.00 | $190,089 | $0 | $5,885 | Yes (X) | |||
| KIM MONAHAN | ||||||||
| CREDIT RISK & PORTFOLIO MANAGEMENT | 40.00 | $233,812 | $0 | $33,052 | Yes (X) | |||
| ERIC GILLILAND | ||||||||
| VP COMMERCIAL RELATIONSHIP MANAGER | 40.00 | $284,191 | $0 | $30,591 | Yes (X) | |||
| SHAUNA GLAZEBROOK | ||||||||
| VP MORTGAGE OPERATIONS | 40.00 | $210,407 | $0 | $11,142 | Yes (X) | |||
| JASON TRUONG | ||||||||
| VP COMMERCIAL RELATIONSHIP MANAGER | 40.00 | $196,482 | $0 | $9,731 | Yes (X) | |||
| LUCAS ROSS | ||||||||
| AVP MORTGAGE OPERATIONS | 40.00 | $212,712 | $0 | $31,914 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $5,142,596 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $373,990 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 60 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| COCC | |||||
| 100 EXECUTIVE BLVD | SOUTHINGTON | CT | 06489 | DATA PROCESSING SERVICES | $7,557,063 |
| CULA LLC | |||||
| 9665 GRANITE RUDGE DRIVE SUITE 400 | SAN DIEGO | CA | 92123 | LEASED AUTO LOAN SERVICING | $5,186,344 |
| FISERV | |||||
| 255 FISERV DRIVE | BROOKFIELD | WI | 53045 | DATA PROCESSING SERVICES | $2,815,780 |
| VISA ACH | |||||
| PO BOX 742233 | LOS ANGELES | CA | 90074 | DEBIT/ATM PROCESSING | $1,536,716 |
| LEE & MASON FINANCIAL SERVICES INC | |||||
| 719 NY-30 | NORTHVILLE | NY | 12134 | FINANCIAL RISK MANAGEMENT SERVICES | $977,663 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 78 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST INCOME ON LOANS | 522100 | $136,019,469 | $136,019,469 | |
| MEMBER FEES | 522100 | $17,133,290 | $16,929,120 | $204,170 |
| LOAN FEES | 522100 | $3,215,564 | $3,215,564 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $156,368,323 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $13,646,619 | TotalRevenueColumnAmt |
| Exclusion | $13,646,619 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $76,566,505 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $75,482,180 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $1,084,325 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,084,325 | TotalRevenueColumnAmt |
| Exclusion | $1,084,325 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| BOLI INCOME | 525990 | $1,032,140 | $1,032,140 |
| VISA INCOME | 525990 | $676,756 | $676,756 |
| MISC INCOME | 525990 | $471,216 | $471,216 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $80,505 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $72,454 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $8,051 | UnrelatedBusinessRevenueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $2,260,617 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $173,359,884 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $158,416,719 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $212,221 | UnrelatedBusinessRevenueAmt |
| Exclusion | $14,730,944 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $303,606 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $18,500 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,004,992 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,281,062 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,937,453 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,981,982 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,225,869 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $304,421 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $504,575 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,121,650 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,530,594 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,806,527 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,326,274 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,785,357 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $142,844 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $246,571 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $92,498,809 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $577,255 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $911,412 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| UBIT TAX EXPENSES | $15,948 |
| ATM DEBIT CARD EXPENSES | $5,459,177 |
| PROVISION FOR LOAN LOSS | $3,676,507 |
| MANUFACTURED HOMES RESE | $3,409,356 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,036,732 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $166,107,473 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,172,656 | BOYAmt |
| EOY | $8,797,711 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $136,792,461 | BOYAmt |
| EOY | $110,216,184 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,592,342 | BOYAmt |
| EOY | $9,048,313 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,980,998,463 | BOYAmt |
| EOY | $2,938,589,370 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,415,490 | BOYAmt |
| EOY | $2,938,794 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $56,194,897 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $23,396,134 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,928,564 | BOYAmt |
| EOY | $32,798,763 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $102,724,619 | BOYAmt |
| EOY | $193,308,030 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,590,814 | BOYAmt |
| EOY | $35,598,654 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,290,235 | BOYAmt |
| EOY | $3,290,235 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $102,685,986 | BOYAmt |
| EOY | $105,446,294 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,414,191,630 | BOYAmt |
| EOY | $3,440,032,348 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,458,317 | BOYAmt |
| EOY | $39,487,607 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,852,031 | BOYAmt |
| EOY | $6,113,994 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $422,862,950 | BOYAmt |
| EOY | $404,336,505 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,689,585,852 | BOYAmt |
| EOY | $2,714,256,146 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,157,759,150 | BOYAmt |
| EOY | $3,164,194,252 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $256,432,480 | BOYAmt |
| EOY | $275,838,096 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $256,432,480 | BOYAmt |
| EOY | $275,838,096 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,414,191,630 | BOYAmt |
| EOY | $3,440,032,348 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $7,252,411 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $832,963 | NetUnrlzdGainsLossesInvstAmt |
| Prior Period Adjustments | $10,273,249 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $1,046,993 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $13,423,983 | OtherCostOrOtherBasisAmt |
| Book Value | $13,423,983 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $32,059,265 | OtherCostOrOtherBasisAmt |
| Depreciation | $15,622,465 | DepreciationAmt |
| Book Value | $16,436,800 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,222,643 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,321,576 | DepreciationAmt |
| Book Value | $1,901,067 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,489,006 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,452,093 | DepreciationAmt |
| Book Value | $1,036,913 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $32,798,763 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DEPOSITS | Desc |
| Amt | $2,714,256,146 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,714,256,146 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $174,136,000 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $832,963 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $832,963 | RevenueNotReportedAmt |
| Revenue Subtotal | $173,303,037 | RevenueSubtotalAmt |
| Other Revenues Not Included | $56,847 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $56,847 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $173,359,884 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $166,051,000 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | -$56,473 | OtherExpensesIncludedAmt |
| Expenses Not Reported | -$56,473 | ExpensesNotReportedAmt |
| Expenses Subtotal | $166,107,473 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $166,107,473 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY INSURANCE AND TAXES FOR ITS MEMBERS IN CONNECTION TO REAL ESTATE LOANS. |
| PART X, LINE 2: | THE CREDIT UNION IS A NOT-FOR-PROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(14) OF THE INTERNAL REVENUE CODE (THE "CODE") AND IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. HOWEVER, STATE-CHARTERED CREDIT UNIONS ARE SUBJECT TO FEDERAL AND STATE TAXES ON UNRELATED BUSINESS INCOME. FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023, THE CREDIT UNION RECOGNIZED $16,000 AND $13,000 OF TAX EXPENSE, RESPECTIVELY, WHICH IS INCLUDED IN OTHER GENERAL AND ADMINISTRATIVE EXPENSES IN THE CONSOLIDATED STATEMENTS OF NET INCOME. THE CREDIT UNION HAS EVALUATED ITS TAX POSITIONS AS OF DECEMBER 31, 2024 AND 2023 AND CONCLUDED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. THE CREDIT UNION FILES FORM 990 IN THE U.S. FEDERAL JURISDICTION AND THE STATE OF MASSACHUSETTS. THE CREDIT UNION IS NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR YEARS BEFORE 2021. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | RECLASS GAINS/LOSSES ON ASSETS SALES FROM EXPENSES -50,195. RECLASS GAINS/LOSSES ON FORECLOSURES FROM EXPENSES -25,160. RECLASS GAINS/LOSSES ON REPOSSESSED VEHICLES FROM EXPENSES 130,851. ROUNDING 1,351. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | RECLASS GAINS/LOSSES ON ASSETS SALES TO REVENUE 50,195. RECLASS GAINS/LOSSES ON FORECLOSURES TO REVENUE 25,160. RECLASS GAINS/LOSSES ON REPOSSESSED VEHICLES TO REVENUE -130,851. ROUNDING -977. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (10 entries)
| Address Line1USAddress/AddressLine1Txt | Address Line2USAddress/AddressLine2Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt | IRC SectionIRCSectionDesc |
|---|---|---|---|---|---|---|---|---|---|
| BANZAI INC | |||||||||
| 2230 NORTH UNIVERSITY PARKWAY SUITE | 14 | PROVO | UT | 84604 | 260233660 | $8,777 | $0 | SPONSORSHIP | |
| COOPERATIVE CU ASSOCIATION | |||||||||
| 845 DONALD LYNCH BLVD | MARLBOROUGH | MA | 01752 | 043403594 | $19,964 | $0 | DONATION | 501(C)(3) | |
| THE CITY OF BOSTON | |||||||||
| BOSTON CITY HALL | BOSTON | MA | 02201 | 046011380 | $29,040 | $0 | DONATION | ||
| GREATER BOSTON ASSOCIATION OF REALTORS | |||||||||
| 3 CENTER PLAZA MEZZ SUITE | BOSTON | MA | 02108 | 041107040 | $11,250 | $0 | SPONSORSHIP | 501(C)(6) | |
| TRUSTEES OF BOSTON UNIVERSITY | |||||||||
| 881 COMMONWEALTH AVENUE | BOSTON | MA | 02215 | 042103547 | $10,100 | $0 | DONATION | 501(C)(3) | |
| METRO CREDIT UNION FOUNDATION INC | |||||||||
| 200 REVERE BEACH PARKWAY | CHELSEA | MA | 02150 | 922114764 | $106,100 | $0 | DONATION | 501(C)(3) | |
| COMMUNITY IMPACT FUND | |||||||||
| 9250 E COSTILLA AVE STE 110 | GREENWOOD VILLAGE | CO | 80112 | 824577516 | $7,000 | $0 | DONATION | 501(C)(3) | |
| MASSACHUSETTS COALITION FOR THE HOMELESS | |||||||||
| 73 BUFFUM ST | LYNN | MA | 01902 | 222599662 | $5,750 | $0 | DONATION | 501(C)(3) | |
| THE NEIGHBORHOOD DEVELOPERS INC | |||||||||
| 4 GERRISH AVE | CHELSEA | MA | 02150 | 042660283 | $10,000 | $0 | DONATION | 501(C)(3) | |
| SECOND CHANCE CARS | |||||||||
| 31 DERBY ST | CONCORD | MA | 01742 | 832999870 | $9,238 | $0 | DONATION | 501(C)(3) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 8 | Total501c3OrgCnt |
| Total Other Org | 2 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIPS | GrantTypeTxt |
| Recipient | 19 | RecipientCnt |
| Cash Grant | $18,500 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | METRO CREDIT UNION PROVIDES SCHOLARSHIPS TO STUDENTS WORKING IN METRO'S HIGH SCHOOL BRANCHES OR ARE STUDENTS LIVING IN THE COMMUNITIES WHERE THE CU SERVES IN ORDER TO SUPPORT STUDENTS THAT HAVE DEMONSTRATED ACADEMIC EXCELLENCE AND COMMUNITY SERVICE. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (14 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROBERT M CASHMAN | ||||||||||||||
| PRESIDENT/CEO/DIRECTOR | $880,499 | $0 | $281,031 | $0 | $423,526 | $0 | $47,750 | $0 | $15,514 | $0 | $1,648,320 | $0 | $418,109 | $0 |
| TRACI MICHEL | ||||||||||||||
| SVP/COO & CSO | $391,232 | $0 | $75,141 | $0 | $486 | $0 | $17,250 | $0 | $20,798 | $0 | $504,907 | $0 | $0 | $0 |
| KEVIN MALONE | ||||||||||||||
| SVP SENIOR COMMERICIAL LENDER | $337,126 | $0 | $14,508 | $0 | $6,858 | $0 | $17,250 | $0 | $15,514 | $0 | $391,256 | $0 | $0 | $0 |
| MARIA A JUSTINIANO | ||||||||||||||
| SVP LENDING | $258,004 | $0 | $51,233 | $0 | $1,242 | $0 | $16,058 | $0 | $20,798 | $0 | $347,335 | $0 | $0 | $0 |
| ERIC GILLILAND | ||||||||||||||
| VP COMMERCIAL RELATIONSHIP MANAGER | $281,090 | $0 | $0 | $0 | $3,101 | $0 | $9,793 | $0 | $20,798 | $0 | $314,782 | $0 | $0 | $0 |
| LAWRENCE STANDFORD | ||||||||||||||
| SVP/CFO | $287,025 | $0 | $15,000 | $0 | $432 | $0 | $9,536 | $0 | $0 | $0 | $311,993 | $0 | $0 | $0 |
| AMYLYNN MOODY | ||||||||||||||
| CHIEF PEOPLE OFFICER | $278,789 | $0 | $15,600 | $0 | $810 | $0 | $13,217 | $0 | $0 | $0 | $308,416 | $0 | $0 | $0 |
| CHARLENE BAUER | ||||||||||||||
| SVP MEMBER EXPERIENCE | $248,082 | $0 | $14,015 | $0 | $3,472 | $0 | $12,479 | $0 | $15,514 | $0 | $293,562 | $0 | $0 | $0 |
| KIM MONAHAN | ||||||||||||||
| CREDIT RISK & PORTFOLIO MANAGEMENT | $224,067 | $0 | $9,000 | $0 | $745 | $0 | $12,254 | $0 | $20,798 | $0 | $266,864 | $0 | $0 | $0 |
| JAMES HERNDON | ||||||||||||||
| SVP HUMAN RESOURCES | $215,722 | $0 | $12,160 | $0 | $2,910 | $0 | $11,840 | $0 | $18,157 | $0 | $260,789 | $0 | $0 | $0 |
| LUCAS ROSS | ||||||||||||||
| AVP MORTGAGE OPERATIONS | $212,369 | $0 | $90 | $0 | $253 | $0 | $11,116 | $0 | $20,798 | $0 | $244,626 | $0 | $0 | $0 |
| SHAUNA GLAZEBROOK | ||||||||||||||
| VP MORTGAGE OPERATIONS | $201,922 | $0 | $8,048 | $0 | $437 | $0 | $11,142 | $0 | $0 | $0 | $221,549 | $0 | $0 | $0 |
| JASON TRUONG | ||||||||||||||
| VP COMMERCIAL RELATIONSHIP MANAGER | $195,673 | $0 | $0 | $0 | $809 | $0 | $9,731 | $0 | $0 | $0 | $206,213 | $0 | $0 | $0 |
| MONICA SANTOS | ||||||||||||||
| SVP/CHIEF MARKETING (AS OF 6/2024) | $154,468 | $0 | $35,000 | $0 | $621 | $0 | $2,250 | $0 | $3,635 | $0 | $195,974 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | THE CREDIT UNION HAS AN AGREEMENT WITH ROBERT CASHMAN, ERIK PORTER, TRACI MICHEL, AND MARIA JUSTINIANO TO REIMBURSE THE TAX OWED AS A RESULT OF THE TAXABLE INCOME GENERATED FROM THE PREMIUM DEPOSIT ACCOUNT IN EACH OF THEIR RESPECTIVE LOAN REGIME SPLIT DOLLAR PLANS. |
| PART I, LINE 4B | THE CREDIT UNION SPONSORS A DEFINED BENEFIT PENSION PLAN FOR THE BENEFIT OF ITS EMPLOYEES. THE PLAN CALLS FOR BENEFITS TO BE PAID TO ELIGIBLE EMPLOYEES AT RETIREMENT BASED PRIMARILY UPON YEARS OF SERVICE WITH THE CREDIT UNION AND COMPENSATION LEVELS AT RETIREMENT. CONTRIBUTIONS TO THE PLAN REFLECT BENEFITS ATTRIBUTED TO EMPLOYEES' SERVICES TO DATE, AS WELL AS SERVICES EXPECTED TO BE PROVIDED IN THE FUTURE. THE CREDIT UNION'S DEFINED BENEFIT PENSION PLAN WAS FROZEN EFFECTIVE JANUARY 1, 2009. ON AUGUST 31, 2024, THE CREDIT UNION OFFICIALLY TERMINATED THE PLAN AND BENEFITS WERE DISTRIBUTED IN SATISFACTION OF ALL OBLIGATIONS AS OF DECEMBER 31, 2024. DURING 2020, THE CREDIT UNION ENTERED INTO A COLLATERAL ASSIGNMENT SPLIT DOLLAR LIFE INSURANCE AGREEMENT WITH THE CHIEF EXECUTIVE OFFICER (CEO) WHICH SUPERSEDED THE PREVIOUS SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN WITH THE CEO. IN CONNECTION WITH THE AGREEMENT, THE CREDIT UNION PROVIDED THE CEO WITH A $3,272,000 NOTE RECEIVABLE, INCLUDED IN OTHER ASSETS ON THE CONSOLIDATED BALANCE SHEET, WHICH WAS USED TO PURCHASE LIFE INSURANCE CONTRACTS FOR THE BENEFIT AND PROTECTION OF THE EXECUTIVE'S FAMILY, IN ADDITION TO ACCUMULATING CASH VALUE THAT THE EXECUTIVE CAN ACCESS THROUGH LOANS FROM THE POLICIES TO SUPPLEMENT RETIREMENT INCOME. THE NOTE CREDITS INTEREST AT A RATE OF 1.86%. THE CREDIT UNION'S INTEREST IS SECURED BY COLLATERAL ASSIGNMENT OF THE LIFE INSURANCE POLICIES. THE NOTE RECEIVABLE WILL BE REPAID WITH LIFE INSURANCE PROCEEDS UPON DEATH OF THE EXECUTIVE. IN 2021, OTHER EXECUTIVES ENTERED INTO SIMILAR SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN AGREEMENTS, WHICH PROVIDED THE EXECUTIVES WITH NOTES RECEIVABLES IN THE AGGREGATE AMOUNT OF $5,750,000. DURING 2024, ONE OF THE EXECUTIVES FOR WHICH A COLLATERAL ASSIGNMENT SPLIT DOLLAR LIFE INSURANCE AGREEMENT WAS ENTERED INTO RESIGNED FROM THE CREDIT UNION, AND THE UNUSED PREMIUM DEPOSIT WAS RETURNED TO THE CREDIT UNION. THESE NOTES CREDIT INTEREST AT A RATE OF 2.07%. THE CREDIT UNION'S EXPENSE IN CONNECTION WITH THESE AGREEMENTS FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023 AMOUNTED TO $104,000 AND $105,000, RESPECTIVELY. |
| SCHEDULE J, PART II, COLUMN F: | ROBERT M. CASHMAN RECEIVED $418,109 SERP PAYOUT IN 2024, WHICH REPORTED AS DEFERRED COMPENSATION IN PRIOR YEARS. |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (5 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| ROBERT CASHMAN | |||||||
| EMPLOYEE | SPLIT DOLLAR | Yes (X) | $3,272,010 | $3,272,010 | 0 | Yes (1) | Yes (1) |
| TRACI MICHEL | |||||||
| EMPLOYEE | SPLIT DOLLAR | Yes (X) | $2,000,000 | $2,000,000 | 0 | Yes (1) | Yes (1) |
| ERIK PORTER | |||||||
| EMPLOYEE | SPLIT DOLLAR | Yes (X) | $2,500,000 | $776,303 | 0 | Yes (1) | Yes (1) |
| MARIA JUSTINIANO | |||||||
| EMPLOYEE | SPLIT DOLLAR | Yes (X) | $1,250,000 | $1,250,000 | 0 | Yes (1) | Yes (1) |
| LARRY STANDFORD | |||||||
| EMPLOYEE | SPLIT DOLLAR | Yes (X) | $1,750,000 | $1,750,000 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $9,048,313 | TotalBalanceDueAmt |
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (2 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionAmt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|---|
| WINBROOK | |||
| DAVID HOLZMAN DIRECTOR | $250,918 | OFFICE SUPPLIES | 0 |
| SMOLLER INSURANCE AGENCY | |||
| MARK SMOLLER DIRECTOR | $210,056 | INSURANCE AGENT | 0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE L, PART II - LOANS TO OFFICERS AND DIRECTORS | FormAndLineReferenceDesc |
| Explanation | ALL LOANS MADE TO DIRECTORS, OFFICERS OR KEY EMPLOYEES FOLLOWED THE LENDING GUIDELINES FOR LOANS TO ANY CREDIT UNION MEMBER AT THE STATED RATES AND TERMS IN EFFECT AT THE TIME OF THE LOAN. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (11 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART III, LINE 1 - ORGANIZATION'S MISSION STATEMENT: | FOR OVER 90 YEARS, METRO CREDIT UNION HAS BEEN PROVIDING FINANCIAL SERVICES TO COMMUNITIES THROUGHOUT MASSACHUSETTS AND NEW HAMPSHIRE. AS ONE OF THE LARGEST CREDIT UNIONS IN THE STATE, METRO HAS $3.440 BILLION IN ASSETS, MORE THAN 209,799 MEMBERS, AND IS ABLE TO SERVE ANYONE IN ESSEX, MIDDLESEX, NORFOLK, SUFFOLK, WORCESTER, PLYMOUTH, BARNSTABLE, BRISTOL, FRANKLIN, HAMPSHIRE, AND HAMPDEN; AND THE FOLLOWING NEW HAMPSHIRE COUNTIES: HILLSBOROUGH, ROCKINGHAM, CHESHIRE, MERRIMACK, AND STRAFFORD. AS A FULL-SERVICE CREDIT UNION, METRO OFFERS ALL OF THE FINANCIAL PRODUCTS AND DELIVERY INNOVATIONS THAT YOU'D EXPECT FROM A LARGE FINANCIAL INSTITUTION. FOUNDED IN 1926 AND HEADQUARTERED IN CHELSEA, MASSACHUSETTS, METRO CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION, OWNED BY AND OPERATED FOR THE PEOPLE WHO USE AND BENEFIT FROM OUR PRODUCTS AND SERVICES. WE'RE DIFFERENT FROM BANKS BECAUSE WE ARE A NON-PROFIT COOPERATIVE THAT IS DEDICATED TO THE FINANCIAL SUCCESS OF OUR MEMBERS; AND NOT FOCUSED ON PAYING DIVIDENDS TO STOCKHOLDERS OR MAXIMIZING PROFITS FOR SHAREHOLDERS. THE MONEY WE BRING IN IS REINVESTED IN YOU, OUR MEMBERS, THROUGH BETTER RATES AND LOWER FEES. THE PHILOSOPHY OF METRO CREDIT UNION IS "PEOPLE HELPING PEOPLE." EACH MEMBER IS AN EQUAL OWNER, REGARDLESS OF HOW MUCH MONEY IS DEPOSITED WITH THE CREDIT UNION. WE ARE COMMITTED TO FINANCIAL EDUCATION. WHETHER ITS SIMPLE TIPS TO HELP YOU BETTER MANAGE YOUR FINANCES OR SEMINARS AND PROGRAMS DESIGNED TO HELP YOU NAVIGATE MORE COMPLICATED FINANCIAL SITUATIONS, WE WANT TO ENSURE THAT YOU HAVE THE RIGHT ADVICE, GUIDANCE AND RESOURCES TO MAKE SMART FINANCIAL DECISIONS. AS A CREDIT UNION, WE PROVIDE PRODUCTS AND SERVICES THAT ARE AFFORDABLE AND FLEXIBLE. WE PARTNER WITH AFFORDABLE HOUSING ORGANIZATIONS ACROSS THE STATE TO ENSURE THAT EVERY PROSPECTIVE HOMEBUYER HAS ACCESS TO AS MANY RESOURCES AS POSSIBLE TO REALIZE THEIR DREAM OF HOMEOWNERSHIP. WE HAVE GENUINE MEMBER FOCUS. ALL OF OUR GUIDANCE AND SERVICES ARE DELIVERED THROUGH ENGAGED EMPLOYEES. THEY LISTEN TO MEMBERS FIRST; UNDERSTAND THEIR SPECIFIC SITUATION; AND PROVIDE THE SOLUTIONS THAT BEST FIT THE NEEDS OF THE INDIVIDUAL OR BUSINESS. |
| FORM 990, PART VI, SECTION A, LINE 2 | MARK SMOLLER, A BOARD DIRECTOR, IS RELATED TO ROBERT CASHMAN, CEO. ADAM FRANK, A BOARD DIRECTORS, IS THE SON-IN-LAW ROBERT M. CASHMAN, THE CHIEF EXECUTIVE OFFICER. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE METRO CREDIT UNION IS A MEMBERS ONLY CREDIT UNION. MEMBERSHIP IS OPEN TO ANYONE WHO LIVES, WORKS OR HAS A PLACE OF BUSINESS IN ESSEX, MIDDLESEX, NORFOLK, SUFFOLK, WORCESTER, PLYMOUTH, BARNSTABLE, BRISTOL, FRANKLIN, HAMPSHIRE, HAMPDEN, HILLSBOROUGH, ROCKINGHAM, CHESHIRE, MERRIMACK AND STRAFFORD COUNTIES. ANNUALLY THE MEMBERS VOTE FOR THE BOARD OF DIRECTORS THAT ACT ON BEHALF OF MEMBERS AS THE GOVERNING BODY OF THE CREDIT UNION. |
| FORM 990, PART VI, SECTION A, LINE 7A | SEE DISCLOSURE FOR LINE 6 |
| FORM 990, PART VI, SECTION A, LINE 7B | SEE DISCLOSURE FOR LINE 6 |
| FORM 990, PART VI, SECTION B, LINE 11B | ALL FINANCIAL DATA REPORTED RECONCILES TO THE YEAR END AUDITED FINANCIAL STATEMENTS PRESENTED TO THE BOARD OF DIRECTORS. THE RETURN IS REVIEWED BY THE CFO AND THEN REVIEWED BY THE BOARD PRIOR TO TRANSMITTING. |
| FORM 990, PART VI, SECTION B, LINE 12C | ON AN ANNUAL BASIS, OR IF A CHANGE OCCURS DURING THE YEAR, SENIOR MANAGEMENT AND THE BOARD OF DIRECTORS ARE REQUIRED TO SIGN AN ACKNOWLEDGMENT FORM AND DISCLOSURE STATEMENT AND RETURN IT TO THE CEO OR CHAIRMAN OF THE BOARD. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE PROCESS INCLUDES REVIEW OF RECOMMENDATIONS PROVIDED BY AN OUTSIDE COMPENSATION CONSULTANT, USE OF INDUSTRY SPECIFIC DATA CONTAINING COMPARABLE COMPENSATION,REVIEW OF AVAILABLE SURVEY DATA PUBLISHED BY HUMAN RESOURCE ORGANIZATIONS, REVIEW AND APPROVAL BY THE PERSONNEL COMMITTEE AND THE BOARD OF DIRECTORS, AND CONTEMPORANEOUS DOCUMENTATION AND RECORD KEEPING. |
| FORM 990, PART VI, SECTION C, LINE 19 | ALL DOCUMENTS RELATED TO THE ORGANIZATION OF THE METRO CREDIT UNION AND ALL 990 FILINGS ARE AVAILABLE UPON REQUEST BY ANY PERSON OR ORGANIZATION THAT REQUEST THE INFORMATION. |
| FORM 990, PART XI, LINE 9: | FAS 158 NET PENSION ADJUSTMENT 1,046,993. |
| FORM 990, PART XII, LINE 2C: | THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS OF METRO CREDIT UNION DURING THE TAX YEAR. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | METRO INSURANCE ADVISORS LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 REVERE BEACH PARKWAY | AddressLine1Txt |
| City | CHELSEA | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02150 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 001263954 | EIN |
| Primary Activities | INSURANCE PRODUCT | PrimaryActivitiesTxt |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Total Income | $80,100 | TotalIncomeAmt |
| End Of Year Assets | $503,744 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | METRO CREDIT UNION | BusinessNameLine1Txt |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | METRO CREDIT UNION FOUNDATION INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 REVERE BEACH PARKWAY | AddressLine1Txt |
| City | CHELSEA | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02150 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 922114764 | EIN |
| Primary Activities | GRANT MAKING | PrimaryActivitiesTxt |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | PF | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | METRO CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | METRO CREDIT UNION FOUNDATION INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | B | TransactionTypeTxt |
| Involved | $106,100 | InvolvedAmt |
| Method Of Amount Determination | CASH | MethodOfAmountDeterminationTxt |