2016-08-11T11:34:30-07:00 2015-12-31 ROBERT ANDERSON & COMPANY PC 138 DODGE ST BEVERLY MA 019151866 990 2015-01-01 041126132 BROTHERHOOD CREDIT UNION BROT 7815985555 75 MARKET STREET LYNN MA 01901 JAMES J SHERMAN President & CEO 2016-08-11 true Robert Anderson P01462745 9782329300 2015 2016-12-15 16:53:06Z JAMES J SHERMAN 14 TIDE WINDS TERRACE MARBLEHEAD MA 01945 3751993 false false X BROTHERHOODCU.COM X 1934 MA CREDIT UNION MEMBER SERVICES 9 8 24 8 6008 -5538 0 1538905 1574135 1124112 1116576 185808 221242 2848825 2911953 2500 2000 0 1391846 1467479 0 0 1395234 1355890 2789580 2825369 59245 86584 108231842 106974678 67901085 67102611 40330757 39872067 CREDIT UNION MEMBER SERVICES false false MAINTENANCE OF MEMBERS' ACCOUNTS AND THE PAYMENT OF INTEREST AND DIVIDENDS THEREON. NUMBER OF ACCOUNTS 7,412. MAKING LOANS TO MEMBERS AT INTEREST. NUMBER OF ACCOUNTS 1,013. false false false false false false false false true false true false false false true false false false false false true false false false false false false false false true false false false false false false true false false false false false false false false false false false false false false true 1556 0 true 24 true true true true OC false false false false false false false false false X 9 8 true false false false true true false true true false true true true false false false false false true true false X X JAMES J SHERMAN 7815985555 75 MARKET STREET LYNN MA 01901 JAMES J SHERMAN President 40.00 0.00 X X 180130 0 31742 DARREN KLEIN Director 2.00 0.00 X 0 0 0 EDWARD I SHADOFF Director 2.00 0.00 X 0 0 0 HOWARD FIELD Director 2.00 0.00 X 0 0 0 ALAN KALIKOW Director 2.00 0.00 X 0 0 0 HUBERT KREPLICK Director 2.00 0.00 X 0 0 0 MARTIN SHUMAN Director 2.00 0.00 X 0 0 0 ARNOLD DUBINSKY Treasurer 2.00 0.00 X X 0 0 0 RICHARD KESSEL Director 2.00 0.00 X 0 0 0 MARIA F RAMOS SR LOAN OFFICER 40.00 0.00 X 83541 0 14275 CHERIL A TIMSON SR OPER OFFICER 40.00 0.00 X 89000 0 13530 ADAM H SHERMAN CFO 40.00 0.00 X 64715 0 21089 ALDEN DRAKE VP OF LENDING 40.00 0.00 X 109663 0 24833 527049 105469 2 false true false FISERV INC 255 FISERV DRIVE BROOKFIELD WI 53045 DATA PROCESSING (IT) 260095 1 0 INTEREST ON LOANS 522100 1574135 1574135 1574135 881682 881682 0 0 0 214083 860851 3215 836825 210868 24026 234894 234894 0 0 0 MEMBERS INSURANCE 900099 7134 7134 MISCELLANEOUS INCOME 900099 153346 153346 SERVICE CHARGES AND FEES 900099 54754 54754 6008 6008 221242 2911953 2905945 6008 0 2000 0 0 632518 0 578417 80175 90453 85916 0 3778 23692 0 0 0 8487 66468 40362 282717 0 165712 0 0 36946 341215 0 83564 40094 ELAN SERVICES 53853 NOW FEES 49863 EQUIPMENT MAINTENANCE 37645 OTHER PROFESSIONAL SVCS 28462 93032 2825369 0 0 0 2565883 2834108 31670297 35745216 0 0 183650 161747 0 42390543 42802298 0 56236 97584 2496790 1621563 954978 875227 29299115 23356766 179700 179700 0 0 931440 922032 108231842 106974678 65793 54838 324881 351809 67510411 66695964 67901085 67102611 X 40330757 39872067 40330757 39872067 108231842 106974678 X 86584 -545274 X false false false false true X 49000 49000 1676047 996897 679150 252626 136206 116420 42221 25650 16571 476896 462810 14086 875227 MEMBER DEPOSITS 66711807 OTHER LIABILITIES - SUSPENSE ACCTS -15843 66695964 Part IV, Line 2b: Explanation of escrow account liability MORTGAGE ESCROW ACCOUNTS HELD FOR THE PAYMENT OF REAL ESTATE TAXES FOR MUNICIPALITIES. ISRAEL 0 0 INVESTMENTS- ISRAEL BONDS INVESTMENTS 450000 CANADA 0 0 INVESTMENTS- BANK STOCKS BANK STOCK 92363 SPAIN 0 0 INVESTMENTS- BANK STOCKS BANK STOCK 3779 546142 546142 false false false false false false X true true X X X false false false JAMES J SHERMAN President 175862 4268 27040 4702 211872 Part I, Line 1a: Relevant information in regards to selections on 1a. CHERIL A TIMSON OFFICER OVERDRAFT LOAN X 1000 false true true RICHARD KESSEL DIRECTOR AUTO X 17000 8399 false true true HOWARD FIELD DIRECTOR AUTO X 21652 9948 false true true ADAM H SHERMAN OFFICER 1ST MORTGAGE X 150000 126000 false true true ADAM H SHERMAN OFFICER HELOC X 74000 17400 false true true ADAM H SHERMAN OFFICER OVERDRAFT LOAN X 1500 false true true 161747 Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et JAMES J. SHERMAN, PRESIDENT, AND HUBERT KREPLICK, DIRECTOR, ARE BROTHERS-IN-LAW. DARREN KLEIN, DIRECTOR, IS THE SON-IN-LAW OF HUBERT KREPLICK AND THE NEPHEW OF JAMES J. SHERMAN, PRESIDENT. ADAM SHERMAN, CFO, IS THE SON OF JAMES J SHERMAN, PRESIDENT AND THE NEPHEW OF DIRECTOR HUBERT KREPLICK. Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder Persons who meet the requirements of the organization's field of membership who hold at least one share of the capital. Form 990, Part VI, Line 11b: Form 990 Review Process THE 990 AND 990T ARE REVIEWED BY THE PRESIDENT, TREASURER, AND AUDIT COMMITTEE FIRST. THE BOARD THEN REVIEWS AND VOTES TO ACCEPT AND IT IS NOTED IN THE MINUTES. DUE TO THE TIMING OF THE PREPARATION OF THE RETURN, THE REVIEW MAY BE AFTER THE RETURN IS FILED. THE 2014 RETURNS WERE REVIEWED AND APPROVED AT THE JUNE 23, 2015 BOARD MEETING AS EVIDENCED IN THE MINUTES. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management COMPENSATION FOR THE CEO/TOP MANAGEMENT IS APPROVED BY THE BOARD. ANY INCREASE IS NOTED IN THE MINUTES. A COMPARISON OF THE INDUSTRY IS PERFORMED. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees COMPENSATION FOR THE CEO/TOP MANAGEMENT IS APPROVED BY THE BOARD. ANY INCREASE IS NOTED IN THE MINUTES. A COMPARISON OF THE INDUSTRY IS PERFORMED. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Information is posted in credit union lobby and available upon request. Other Changes In Net Assets Or Fund Balances - Other Decreases CHANGE IN MARKET VALUE DUE TO FAS115 = -$545274