METRO CREDIT UNION: Form 990, tax year 2016
View the entire original 990 at ProPublica ↗
- Organization
- METRO CREDIT UNION (EIN 04-1695745)
- Tax period
- 2016-01-01 to 2016-12-31
- Filed
- 2017-11-14
- IRS object ID
- 201723189349306567
- Schema version
- 2016v3.1
- 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 | 2017-11-14T13:43:50-06:00 | ReturnTs |
| Tax Period End | 2016-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
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 | 99 HIGH STREET 21ST FLOOR | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02110 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2016-01-01 | 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) |
|---|---|---|
| In Care Of | % ERIK M PORTER | InCareOfNm |
| 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 | ERIK M PORTER | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 6174885509 | PhoneNum |
| Signature | 2017-11-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Michael J Rowe CPA | PreparerPersonNm |
| PTIN | P00535831 | PTIN |
| Phone | 6174399700 | PhoneNum |
| Preparation | 2017-11-14 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 74.92.33.29 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Federal Original Submission Id | 04102520173185000001 | FederalOriginalSubmissionId |
| Federal Original Submission Id | 2017-11-14 | FederalOriginalSubmissionIdDt |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | FC2C3B3E33F5728E88F8F1C970CCBE89E423E2A2 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | AB4632533840A799C2F045CE9F5D9B6D33CBA32F | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2016 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | 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 | $90,364,007 | GrossReceiptsAmt |
| Group Return For Affiliates | false | 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 | 13 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 362 | TotalEmployeeCnt |
| Total Volunteers | 11 | TotalVolunteersCnt |
| Total Gross UBI | $365,037 | TotalGrossUBIAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $51,512,104 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $57,344,966 | CYProgramServiceRevenueAmt |
| PY Investment Income | $5,914,848 | PYInvestmentIncomeAmt |
| CY Investment Income | $5,995,426 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,412,502 | PYOtherRevenueAmt |
| CY Other Revenue | $1,089,803 | CYOtherRevenueAmt |
| PY Total Revenue | $58,839,454 | PYTotalRevenueAmt |
| CY Total Revenue | $64,430,195 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $22,514,044 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $22,270,552 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $31,432,078 | PYOtherExpensesAmt |
| CY Other Expenses | $33,837,419 | CYOtherExpensesAmt |
| PY Total Expenses | $53,946,122 | PYTotalExpensesAmt |
| CY Total Expenses | $56,107,971 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,893,332 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $8,322,224 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,492,356,111 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,633,755,224 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,357,261,159 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,490,390,948 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $135,094,952 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $143,364,276 | NetAssetsOrFundBalancesEOYAmt |
| Mission | FOR OVER 90 YEARS, METRO CREDIT UNION HAS BEEN PROVIDING FINANCIAL SERVICES TO COMMUNITIES THROUGHOUT MASSACHUSETTS. AS ONE OF THE LARGEST CREDIT UNIONS IN THE STATE, METRO HAS $1.6 BILLION IN ASSETS, MORE THAN 180,000 MEMBERS, AND IS ABLE TO SERVE ANYONE IN ESSEX, MIDDLESEX, SUFFOLK, NORFOLK, PLYMOUTH, BARNSTABLE OR WORCESTER COUNTIES. 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 AN | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | Metro Credit Union provides loan and deposit products to members that assist them in meeting their financial needs. As of 12/31/2016, Metro Credit Union has net loans of $1,401 million and share deposits of $1,268 million. | Desc |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | Yes (true) | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | Yes (true) | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | Yes (true) | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | Yes (true) | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 47440 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 362 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 13 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (true) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | Yes (true) | LocalChaptersInd |
| Policies Reference Chapters | Yes (true) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | Yes (true) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | Yes (true) | WrittenPolicyOrProcedureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ERIK M PORTER | PersonNm |
| Phone | 6174885509 | 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 (30 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|---|
| MARVIN L CASHMAN | |||||||||
| EVP, Director | 40.0 | 0.0 | Yes (X) | $215,424 | $0 | $37,168 | |||
| A RICHARD SILVA | |||||||||
| Director | 0.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |||
| ARNOLD S BAER | |||||||||
| Director | 0.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |||
| ARTHUR COHAN | |||||||||
| Director/clerk | 0.0 | 0.0 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| DAVID HOLZMAN | |||||||||
| Director | 0.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |||
| JAMES HERNDON | |||||||||
| Director | 0.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |||
| JOSEPH ZANG | |||||||||
| Director | 0.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |||
| MARK SMOLLER | |||||||||
| Chairman of the Board | 0.0 | 0.0 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| PAUL GULKO | |||||||||
| Director | 0.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |||
| PETER HARRIS | |||||||||
| Treasurer | 0.0 | 0.0 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| JOHN IMBERGAMO | |||||||||
| Vice Chairman | 0.0 | 0.0 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| Donna A Lee | |||||||||
| Director | 0.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |||
| ROBERT M CASHMAN | |||||||||
| Director | 0.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |||
| Michael McGovern | |||||||||
| SVP CHIEF TECHNOLOGY OFFICER | 40.0 | 0.0 | $215,959 | $0 | $17,773 | Yes (X) | |||
| CHARLENE BAUER | |||||||||
| SVP BUS DEVELOPMENT/COM REL | 40.0 | 0.0 | $185,057 | $0 | $26,096 | Yes (X) | |||
| ROBERT M CASHMAN | |||||||||
| President & CEO | 40.0 | 0.0 | $845,761 | $0 | $352,194 | Yes (X) | |||
| Michel Traci | |||||||||
| VP Proj Mgmt & Pro Imp | 40.0 | 0.0 | $133,156 | $0 | $21,951 | Yes (X) | |||
| THOMAS NADEAU | |||||||||
| CHIEF OPERATING OFFICER | 40.0 | 0.0 | $417,178 | $0 | $47,180 | Yes (X) | |||
| KEITH PEQUENO | |||||||||
| SVP CMO (term ended 6/30/2016) | 40.0 | 0.0 | $186,424 | $0 | $13,220 | Yes (X) | |||
| Paul Swart | |||||||||
| SVP retail services | 40.0 | 0.0 | $180,370 | $0 | $15,837 | Yes (X) | |||
| Jay Dunham | |||||||||
| SVP Special Projects | 40.0 | 0.0 | $196,070 | $0 | $25,242 | Yes (X) | |||
| Gregory Spencer | |||||||||
| SVP Business Intelligence | 40.0 | 0.0 | $165,239 | $0 | $23,853 | Yes (X) | |||
| Michael Jordan | |||||||||
| VP Branch Administrator | 40.0 | 0.0 | $117,343 | $0 | $21,195 | Yes (X) | |||
| Elizabeth Mulvey | |||||||||
| SVP Human Resource | 40.0 | 0.0 | $165,216 | $0 | $23,219 | Yes (X) | |||
| Erik Porter | |||||||||
| SVP, CFO | 40.0 | 0.0 | $110,426 | $0 | $5,160 | Yes (X) | |||
| THOMAS WAHL | |||||||||
| SVP TECHNOLOGY | 40.0 | 0.0 | $196,695 | $0 | $28,078 | Yes (X) | |||
| Dawn Dawson | |||||||||
| VP Mortgage Oper & 2nd mkt mgr | 40.0 | 0.0 | $191,436 | $0 | $24,855 | Yes (X) | |||
| Jeffrey Accaputo | |||||||||
| mortage client svcs specialist | 40.0 | 0.0 | $188,762 | $0 | $18,543 | Yes (X) | |||
| Arthur McCue | |||||||||
| Sr Mortgage Originator | 40.0 | 0.0 | $772,846 | $0 | $25,694 | Yes (X) | |||
| Tedi TiJan | |||||||||
| Mortgage Originator | 40.0 | 0.0 | $243,123 | $0 | $26,323 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $4,726,485 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $753,581 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 34 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| PSCU | |||||
| 560 Carillon Parkway | ST PETERSBURG | FL | 33716 | Credit card services | $1,053,320 |
| Fiserv | |||||
| 255 Fiserv Drive | BROOKFIELD | WI | 53045 | IT services | $1,778,438 |
| Focus Technology Solutions | |||||
| 93 ledge road | SEABROOK | NH | 03874 | Information security | $681,503 |
| Financial Services Inc | |||||
| 21 Harristown Road | GLEN ROCK | NJ | 07452 | Statement Printing | $785,690 |
| VISA ACH | |||||
| PO Box 742233 | LOS ANGELES | CA | 900742233 | debit/atm processing | $988,332 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 64 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | BusinessBusinessCd | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST INCOME ON LOANS | $41,491,370 | $41,491,370 | ||
| MEMBER FEES | $14,241,420 | $13,876,383 | 522100 | $365,037 |
| LOAN FEES | $1,612,176 | $1,612,176 | 522100 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $57,344,966 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,922,499 | TotalRevenueColumnAmt |
| Exclusion | $2,922,499 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $26,126,594 | SecuritiesAmt |
| Other | $2,880,145 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $25,933,812 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $192,782 | SecuritiesAmt |
| Other | $2,880,145 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,072,927 | TotalRevenueColumnAmt |
| Exclusion | $3,072,927 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $0 | FundraisingGrossIncomeAmt |
| Fundraising Direct Expenses | $0 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gaming Gross Income | $0 | GamingGrossIncomeAmt |
| Gaming Direct Expenses | $0 | GamingDirectExpensesAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $0 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $0 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| VISA FEES | 900099 | $701,919 | $701,919 |
| BOLI INCOME | 900099 | $138,842 | $138,842 |
| MISC INCOME | 900099 | $249,042 | $249,042 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $1,089,803 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $64,430,195 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $58,069,732 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $365,037 | UnrelatedBusinessRevenueAmt |
| Exclusion | $5,995,426 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,219,998 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,134,669 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,620,401 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,778,023 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,517,461 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $247,786 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $514,480 | TotalAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $171,888 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,599,089 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,282,145 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,733,789 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,211,709 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $131,295 | TotalAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $160,312 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,974,228 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,039,591 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $275,595 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR LOAN LOSS | $1,260,318 |
| ATM DEBIT CARD EXPENSES | $4,666,554 |
| MANUFACTURED HOMES RESERVE | $500,566 |
| MORTGAGE LOAN EXPENSES | $431,732 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,636,342 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $56,107,971 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,110,920 | BOYAmt |
| EOY | $8,722,115 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $47,885,952 | BOYAmt |
| EOY | $9,839,244 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,215,531,592 | BOYAmt |
| EOY | $1,401,174,365 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,947,538 | BOYAmt |
| EOY | $2,346,731 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $64,581,968 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $24,653,568 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $41,472,686 | BOYAmt |
| EOY | $39,928,400 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $114,277,479 | BOYAmt |
| EOY | $107,664,152 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,856,564 | BOYAmt |
| EOY | $32,603,492 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,404,228 | BOYAmt |
| EOY | $3,344,232 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,869,152 | BOYAmt |
| EOY | $28,132,493 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,492,356,111 | BOYAmt |
| EOY | $1,633,755,224 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,732,978 | BOYAmt |
| EOY | $24,264,222 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,468,134 | BOYAmt |
| EOY | $4,205,714 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $187,751,035 | BOYAmt |
| EOY | $193,733,640 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,149,309,012 | BOYAmt |
| EOY | $1,268,187,372 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,357,261,159 | BOYAmt |
| EOY | $1,490,390,948 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
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 | $135,094,952 | BOYAmt |
| EOY | $143,364,276 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $135,094,952 | BOYAmt |
| EOY | $143,364,276 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,492,356,111 | BOYAmt |
| EOY | $1,633,755,224 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $8,322,224 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$505,730 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $452,830 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amounts | ArtPublicExhibitionAmountsGrp | |
| Held Works Art | HeldWorksArtGrp | |
| Agent Trustee Etc | false | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (true) | InclEscrowCustodialAcctLiabInd |
| CY Minus3 Yr Endwmt Fund | CYMinus3YrEndwmtFundGrp | |
| CY Minus4 Yr Endwmt Fund | CYMinus4YrEndwmtFundGrp |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $11,575,702 | OtherCostOrOtherBasisAmt |
| Book Value | $11,575,702 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $29,864,306 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,883,691 | DepreciationAmt |
| Book Value | $21,980,615 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,688,208 | OtherCostOrOtherBasisAmt |
| Depreciation | $954,269 | DepreciationAmt |
| Book Value | $1,733,939 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Equipment | EquipmentGrp |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $20,453,753 | OtherCostOrOtherBasisAmt |
| Depreciation | $15,815,608 | DepreciationAmt |
| Book Value | $4,638,144 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $39,928,400 | TotalBookValueLandBuildingsAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DEPOSITS | Desc |
| Amt | $1,268,187,372 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,268,187,372 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $64,430,195 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Subtotal | $64,430,195 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $64,430,195 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $56,107,971 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $56,107,971 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $56,107,971 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule D, Part IV, Line 2b - Escrow and Custodial Arrangements | The Credit Union holds funds in escrow to pay insurance and taxes for its members in connection to real estate loans. |
| Schedule D, Part X, Line 2 - Uncertain Tax Positions | 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 year ended December 31, 2016 there was no unrelated business income tax. For the year ended December 31, 2015, the Credit Union recognized a $43,000 refund on unrelated business income, which is included in other general and administrative expenses in the statements of net income. The Credit Union has evaluated its tax positions as of December 31, 2016 and 2015 and concluded that there are no uncertain tax positions that require adjustment to the 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 2014. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Personal Services | Yes (X) | PersonalServicesInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | 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 | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (18 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Michael McGovern | ||||||||||||||
| SVP CHIEF TECHNOLOGY OFFICER | $203,373 | $0 | $12,006 | $0 | $580 | $0 | $10,830 | $0 | $6,943 | $0 | $233,732 | $0 | $0 | $0 |
| CHARLENE BAUER | ||||||||||||||
| SVP BUS DEVELOPMENT/COM REL | $172,534 | $0 | $10,541 | $0 | $1,982 | $0 | $9,298 | $0 | $16,798 | $0 | $211,153 | $0 | $0 | $0 |
| MARVIN L CASHMAN | ||||||||||||||
| EVP, Director | $199,702 | $0 | $12,000 | $0 | $3,722 | $0 | $28,600 | $0 | $8,568 | $0 | $252,592 | $0 | $0 | $0 |
| ROBERT M CASHMAN | ||||||||||||||
| President & CEO | $339,197 | $0 | $202,500 | $0 | $304,064 | $0 | $288,246 | $0 | $63,948 | $0 | $1,197,955 | $0 | $274,996 | $0 |
| Michel Traci | ||||||||||||||
| VP Proj Mgmt & Pro Imp | $125,575 | $0 | $7,200 | $0 | $381 | $0 | $6,923 | $0 | $15,028 | $0 | $155,107 | $0 | $0 | $0 |
| THOMAS NADEAU | ||||||||||||||
| CHIEF OPERATING OFFICER | $171,181 | $0 | $67,812 | $0 | $178,185 | $0 | $31,250 | $0 | $15,930 | $0 | $464,358 | $0 | $175,265 | $0 |
| KEITH PEQUENO | ||||||||||||||
| SVP CMO (term ended 6/30/2016) | $89,806 | $0 | $10,471 | $0 | $86,147 | $0 | $5,535 | $0 | $7,685 | $0 | $199,644 | $0 | $0 | $0 |
| THOMAS WAHL | ||||||||||||||
| SVP TECHNOLOGY | $183,297 | $0 | $9,456 | $0 | $3,942 | $0 | $9,929 | $0 | $18,149 | $0 | $224,773 | $0 | $0 | $0 |
| Paul Swart | ||||||||||||||
| SVP retail services | $169,312 | $0 | $10,078 | $0 | $980 | $0 | $9,091 | $0 | $6,746 | $0 | $196,207 | $0 | $0 | $0 |
| Jay Dunham | ||||||||||||||
| SVP Special Projects | $182,798 | $0 | $10,932 | $0 | $2,340 | $0 | $9,862 | $0 | $15,380 | $0 | $221,312 | $0 | $0 | $0 |
| Gregory Spencer | ||||||||||||||
| SVP Business Intelligence | $155,214 | $0 | $9,553 | $0 | $472 | $0 | $8,618 | $0 | $15,235 | $0 | $189,092 | $0 | $0 | $0 |
| Dawn Dawson | ||||||||||||||
| VP Mortgage Oper & 2nd mkt mgr | $173,392 | $0 | $17,500 | $0 | $544 | $0 | $9,522 | $0 | $15,333 | $0 | $216,291 | $0 | $0 | $0 |
| Jeffrey Accaputo | ||||||||||||||
| mortage client svcs specialist | $43,629 | $0 | $145,000 | $0 | $133 | $0 | $7,562 | $0 | $10,981 | $0 | $207,305 | $0 | $0 | $0 |
| Arthur McCue | ||||||||||||||
| Sr Mortgage Originator | $22,794 | $0 | $749,962 | $0 | $90 | $0 | $11,783 | $0 | $13,911 | $0 | $798,540 | $0 | $0 | $0 |
| Tedi TiJan | ||||||||||||||
| Mortgage Originator | $23,836 | $0 | $219,197 | $0 | $90 | $0 | $12,412 | $0 | $13,911 | $0 | $269,446 | $0 | $0 | $0 |
| Michael Jordan | ||||||||||||||
| VP Branch Administrator | $109,749 | $0 | $6,930 | $0 | $664 | $0 | $6,251 | $0 | $14,944 | $0 | $138,538 | $0 | $0 | $0 |
| Elizabeth Mulvey | ||||||||||||||
| SVP Human Resource | $155,299 | $0 | $9,450 | $0 | $467 | $0 | $8,000 | $0 | $15,219 | $0 | $188,435 | $0 | $0 | $0 |
| Erik Porter | ||||||||||||||
| SVP, CFO | $100,150 | $0 | $10,000 | $0 | $276 | $0 | $1,725 | $0 | $3,435 | $0 | $115,586 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule J Part I Line 1 | Car Service Payment was made to a car service and for reimbursement directly to one listed executive for transportation to and from home and work for a portion of 2015 during which the individual was unable to drive due to a medical condition. Tax indemnification and gross-up payments Robert Cashman's compensation included $6,221 tax gross-up payment. |
| Schedule J Part I Line 4b - Non-qualifying deferred compensation | The Credit Union has entered into supplemental executive retirement plans with certain executives. The plans call for annual contributions and an annual interest rate of 5.50%. The contributions are held in a Rabbi Trust. As of December 31, 2016 and 2015, the Plans are fully funded and are included in both other assets and other liabilities in the amount of $963,000 and $528,000, respectively. The Credit Unions expense in connection with these plans for the years ended December 31, 2016 and 2015 amounted to $435,000 and $235,000, respectively. |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (3 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionAmt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|---|
| Suburban Services Eric Cohen | |||
| Family member of director | $259,234 | Cleaning Services | false |
| Winbrook | |||
| David Holtzman Director | $183,269 | Office Supplies | false |
| Smoller Insurance Agency | |||
| Mark Smoller Director | $159,694 | insurance agent | false |
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 (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART VI, SECTION B, LINE 12C - Conflict of Interest Policy | 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. |
| PART VI, SECTION B, LINE 15B - Compensation | 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. |
| PART VI, SECTION B, LINE 11 - Form 990 Review | All financial data reported reconciles to the year end financial statements presented to the Board of Directors. The return is reviewed by the CFO and then reviewed by the board prior to transmitting. |
| PART XI, LINE 9 - Other changes in net assets | Net Assets Acquired 271,330 FAS 158 Net Pension Adjustment 181,500 ------- Total 452,830 ======= |
| PART VI, SECTION A, LINE 2 - RELATED OFFICERS | Marvin L. Cashman, The Executive Vice President is the Father of Robert M. Cashman the Chief Executive Officer. Mark Smoller, Board Director, is related to Marvin L. Cashman, EVP and Robert Cashman, CEO |
| PART VI, SECTION A, LINES 6 & 7 - Members | 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, Suffolk, Norfolk, Plymouth, Barnstable or Worcester counties. Annually the members vote for the board of directors that act on behalf of members as the governing body of the Credit Union. |
| PART VI, SECTION C, LINE 19 - Availability of governing documents | 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. |