2015-08-03T06:57:01-07:00 2014-12-31 ROBERT ANDERSON & COMPANY PC 138 DODGE ST BEVERLY MA 019151866 990 2014-01-01 041126132 BROTHERHOOD CREDIT UNION BROT 7815985555 75 MARKET STREET LYNN MA 01901 JAMES J SHERMAN President & CEO 2015-08-03 true Robert Anderson P01462745 9782329300 2014 2016-02-25 16:41:14Z 2851485 false false X N/A CREDIT UNION MEMBER SERVICES 9 8 21 8 6220 -5034 0 1627767 1538905 1044471 1124112 123267 185808 2795505 2848825 2500 2500 0 1302498 1391846 0 0 1435950 1395234 2740948 2789580 54557 59245 108195492 108231842 68943342 67901085 39252150 40330757 CREDIT UNION MEMBER SERVICES false false 351854 MAINTENANCE OF MEMBERS' ACCOUNTS AND THE PAYMENT OF INTEREST AND DIVIDENDS THEREON. NUMBER OF ACCOUNTS 7,557. 1538905 MAKING LOANS TO MEMBERS AT INTEREST. NUMBER OF ACCOUNTS 998. 351854 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 1594 0 true 21 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 JAMES J SHERMAN 7815985555 75 MARKET STREET LYNN MA 01901 JAMES J SHERMAN President 40.00 0.00 X X 178676 0 37327 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 82496 0 14074 CHERIL A TIMSON SR OPER OFFICER 40.00 0.00 X 87537 0 13311 ADAM H SHERMAN CFO 40.00 0.00 X 64602 0 16207 ALDEN DRAKE VP OF LENDING 40.00 0.00 X 53789 0 4156 467100 85075 1 false true false FISERV INC 255 FISERV DRIVE BROOKFIELD WI 53045 DATA PROCESSING (IT) 269121 1 0 INTEREST ON LOANS 522100 1538905 1538905 1538905 882799 882799 0 0 0 243973 2660 241313 241313 241313 0 0 0 MEMBERS INSURANCE 900099 7353 7353 MISCELLANEOUS INCOME 900099 112279 112279 SERVICE CHARGES AND FEES 900099 59956 59956 6220 6220 185808 2848825 2842605 6220 0 2500 2500 0 0 552175 552175 0 564850 564850 80599 80599 112071 112071 82151 82151 0 3213 3213 31622 31622 0 0 0 0 85006 85006 28184 28184 267918 267918 0 165517 165517 0 0 43697 43697 351854 351854 0 100909 100909 31883 31883 NOW FEES 46804 46804 ELAN SERVICES 46190 46190 EQUIPMENT MAINTENANCE 41111 41111 OTHER PROFESSIONAL SERVICES 36256 36256 115070 115070 2789580 354354 2435226 0 5260449 2565883 29154386 31670297 0 0 170006 183650 0 40185608 42390543 0 71208 56236 2496790 1541812 1042167 954978 31206343 29299115 169400 179700 0 0 935925 931440 108195492 108231842 48542 65793 304300 324881 68590500 67510411 68943342 67901085 X 39252150 40330757 39252150 40330757 108195492 108231842 X 59245 1019362 X false false false false true X 49000 49000 1676047 956895 719152 252626 118011 134615 42221 20250 21971 476896 446656 30240 954978 MEMBER DEPOSITS 67478585 OTHER LIABILITIES - SUSPENSE ACCTS 31825 Rounding 1 67510411 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 SPAIN 0 0 INVESTMENTS- BANK STOCKS BANK STOCK 6090 CANADA 0 0 INVESTMENTS- BANK STOCKS BANK STOCK 112665 568755 568755 false false false false false false X true true X X X false false false JAMES J SHERMAN President 174533 4143 27021 10306 216003 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 13289 false true true HOWARD FIELD DIRECTOR AUTO X 21652 14261 false true true ADAM H SHERMAN OFFICER 1ST MORTGAGE X 150000 136600 false true true ADAM H SHERMAN OFFICER HELOC X 74000 19500 false true true ADAM H SHERMAN OFFICER OVERDRAFT LOAN X 1500 false true true 183650 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 Increases CHANGE IN MARKET VALUE DUE TO FAS115 = $1019362