BROTHERHOOD CREDIT UNION: Form 990, tax year 2012

View the entire original 990 at ProPublica ↗

Organization: BROTHERHOOD CREDIT UNION (EIN 04-1126132)
Tax period: 2012-01-01 to 2012-12-31
Filed: 2013-05-13
IRS object ID: 201301339349301550
Schema version: 2012v2.0
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
Form 990
Schedule D
Schedule F
Schedule J
Schedule L
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2013-05-13T07:29:27-07:00	Timestamp
Tax Period End Date	2012-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	ROBERT ANDERSON & COMPANY PC	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	138 DODGE ST	AddressLine1
City	BEVERLY	City
State	MA	State
ZIP Code	019151866	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2012-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	041126132	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	BROTHERHOOD CREDIT UNION	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	BROT	NameControl
Phone	7815985555	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	75 MARKET STREET	AddressLine1
City	LYNN	City
State	MA	State
ZIP Code	01901	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	JAMES J SHERMAN	Name
Title	President & CEO	Title
Date Signed	2013-05-13	DateSigned
Authorize Third Party	true	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	Robert Anderson	Name
PTIN	P01462745	PTIN
Phone	9782329300	Phone

Field	Value	IRS element (for citing)
Tax Year	2012	TaxYear
Build TS	2016-02-25 16:41:14Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Gross Receipts	2929501	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
All Affiliates Included	false	AllAffiliatesIncluded
Organization501c	X	Organization501c
Web Site	N/A	WebSite
Activity Or Mission Description	CREDIT UNION MEMBER SERVICES	ActivityOrMissionDescription
Nbr Voting Members Governing Body	9	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	8	NbrIndependentVotingMembers
Total Nbr Employees	20	TotalNbrEmployees
Total Nbr Volunteers	8	TotalNbrVolunteers
Total Gross UBI	5509	TotalGrossUBI
Net Unrelated Business Txbl Income	-11035	NetUnrelatedBusinessTxblIncome
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	2055947	ProgramServiceRevenuePriorYear
Program Service Revenue CY	1901700	ProgramServiceRevenueCY
Investment Income Prior Year	1008903	InvestmentIncomePriorYear
Investment Income Current Year	918050	InvestmentIncomeCurrentYear
Other Revenue Prior Year	99558	OtherRevenuePriorYear
Other Revenue Current Year	109751	OtherRevenueCurrentYear
Total Revenue Prior Year	3164408	TotalRevenuePriorYear
Total Revenue Current Year	2929501	TotalRevenueCurrentYear
Grants And Similar Amnts CY	2500	GrantsAndSimilarAmntsCY
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Prior Year	1352157	SalariesEtcPriorYear
Salaries Etc Current Year	1329645	SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	1746266	OtherExpensePriorYear
Other Expenses Current Year	1541197	OtherExpensesCurrentYear
Total Expenses Prior Year	3098423	TotalExpensesPriorYear
Total Expenses Current Year	2873342	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	65985	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	56159	RevenuesLessExpensesCY
Total Assets BOY	109506129	TotalAssetsBOY
Total Assets EOY	108602954	TotalAssetsEOY
Total Liabilities BOY	74423688	TotalLiabilitiesBOY
Total Liabilities EOY	71747342	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	35082441	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	36855612	NetAssetsOrFundBalancesEOY
Mission Description	CREDIT UNION MEMBER SERVICES	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Expense	526151	Expense
Description	MAINTENANCE OF MEMBERS' ACCOUNTS AND THE PAYMENT OF INTEREST AND DIVIDENDS THEREON. NUMBER OF ACCOUNTS 7,817.	Description

Activity2 Activity2

Field	Value	IRS element (for citing)
Revenue	1901700	Revenue
Description	MAKING LOANS TO MEMBERS AT INTEREST. NUMBER OF ACCOUNTS 1,080.	Description

Field	Value	IRS element (for citing)
Total Program Service Expense	526151	TotalProgramServiceExpense
Described In501 C3	false	DescribedIn501C3
Schedule B Required	false	ScheduleBRequired
Political Activities	false	PoliticalActivities
Lobbying Activities	false	LobbyingActivities
Subject To Proxy Tax	false	SubjectToProxyTax
Donor Advised Funds	false	DonorAdvisedFunds
Conservation Easements	false	ConservationEasements
Collections Of Art	false	CollectionsOfArt
Credit Counseling	true	CreditCounseling
Term Or Permanent Endowments	false	TermOrPermanentEndowments
Report Land Bldg Equip	true	ReportLandBldgEquip
Report Invest Oth Securities	false	ReportInvestOthSecurities
Report Prog Rel Invest	false	ReportProgRelInvest
Report Other Assets	false	ReportOtherAssets
Report Other Liabilities	true	ReportOtherLiabilities
Report Fin48 Footnote	false	ReportFin48Footnote
Independent Audit Financial Stmt	false	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	false	ConsolidatedAuditFinancialStmt
School	false	School
Foreign Office	false	ForeignOffice
Foreign Activities	true	ForeignActivities
More Than5000 K To Organizations	false	MoreThan5000KToOrganizations
More Than5000 K To Individuals	false	MoreThan5000KToIndividuals
Professional Fundraising	false	ProfessionalFundraising
Fundraising Activities	false	FundraisingActivities
Gaming	false	Gaming
Hospital	false	Hospital
Grants To Organizations	false	GrantsToOrganizations
Grants To Individuals	false	GrantsToIndividuals
Schedule J Required	true	ScheduleJRequired
Tax Exempt Bonds	false	TaxExemptBonds
Invest Tax Exempt Bonds	false	InvestTaxExemptBonds
Escrow Account	false	EscrowAccount
On Behalf Of Issuer	false	OnBehalfOfIssuer
Excess Benefit Transaction	false	ExcessBenefitTransaction
Prior Excess Benefit Transaction	false	PriorExcessBenefitTransaction
Loan To Officer Or DQP	true	LoanToOfficerOrDQP
Grant To Related Person	false	GrantToRelatedPerson
Bsnss Rltnshp With Organization	false	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	false	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	false	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	false	DeductibleNonCashContributions
Deductible Contributions Of Art	false	DeductibleContributionsOfArt
Terminated	false	Terminated
Partial Liquidation	false	PartialLiquidation
Disregarded Entity	false	DisregardedEntity
Related Entity	false	RelatedEntity
Related Org Controlled Entity	false	RelatedOrgControlledEntity
Transaction Related Entity	false	TransactionRelatedEntity
Transfers To Exempt Non Chrtbl Org	false	TransfersToExemptNonChrtblOrg
Activities Conducted Partnership	false	ActivitiesConductedPartnership
Schedule O Required	true	ScheduleORequired
Number Forms Transmitted With1096	2457	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	true	ComplianceWithBackupWitholding
Number Of Employees	20	NumberOfEmployees
Employment Tax Returns Filed	true	EmploymentTaxReturnsFiled
Unrelated Business Income	true	UnrelatedBusinessIncome
Foreign Financial Account	true	ForeignFinancialAccount
Name Of Foreign Country	OC	NameOfForeignCountry
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTrans
Taxable Party Notification	false	TaxablePartyNotification
Non Deductible Contributions	false	NonDeductibleContributions
Excess Business Holdings	false	ExcessBusinessHoldings
Taxable Distributions	false	TaxableDistributions
Distribution To Donor	false	DistributionToDonor
Filed Lieu1041	false	FiledLieu1041
Licensed More Than One State	false	LicensedMoreThanOneState
Indoor Tanning Services	false	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	9	NbrVotingGoverningBodyMembers
Number Independent Voting Members	8	NumberIndependentVotingMembers
Family Or Business Relationship	true	FamilyOrBusinessRelationship
Delegation Of Management Duties	false	DelegationOfManagementDuties
Changes To Organizing Docs	false	ChangesToOrganizingDocs
Material Diversion Or Misuse	false	MaterialDiversionOrMisuse
Members Or Stockholders	true	MembersOrStockholders
Election Of Board Members	true	ElectionOfBoardMembers
Decisions Subject To Approval	false	DecisionsSubjectToApproval
Minutes Of Governing Body	true	MinutesOfGoverningBody
Minutes Of Committees	true	MinutesOfCommittees
Officer Mailing Address	false	OfficerMailingAddress
Local Chapters	true	LocalChapters
Policies Reference Chapters	true	PoliciesReferenceChapters
Form990 Provided To Governing Body	false	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	false	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	false	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	false	RegularMonitoringEnforcement
Whistleblower Policy	false	WhistleblowerPolicy
Document Retention Policy	false	DocumentRetentionPolicy
Compensation Process CEO	true	CompensationProcessCEO
Compensation Process Other	true	CompensationProcessOther
Investment In Joint Venture	false	InvestmentInJointVenture
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Field	Value	IRS element (for citing)
Name Person	JAMES J SHERMAN	NamePerson
Telephone Number	7815985555	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	75 MARKET STREET	AddressLine1
City	LYNN	City
State	MA	State
ZIP Code	01901	ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (12 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Average Hours Per Week RelatedAverageHoursPerWeekRelated	Individual Trustee Or DirectorIndividualTrusteeOrDirector	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation	OfficerOfficer
RICHARD KESSEL
Director	2.00	0.00	X	0	0	0
ARNOLD DUBINSKY
Treasurer	2.00	0.00	X	0	0	0	X
MARTIN SHUMAN
Director	2.00	0.00	X	0	0	0
HUBERT KREPLICK
Director	2.00	0.00	X	0	0	0
ALAN KALIKOW
Director	2.00	0.00	X	0	0	0
HOWARD FIELD
Director	2.00	0.00	X	0	0	0
EDWARD I SHADOFF
Director	2.00	0.00	X	0	0	0
DARREN KLEIN
Director	2.00	0.00	X	0	0	0
JAMES J SHERMAN
President	40.00	0.00	X	181115	0	45567	X
ADAM H SHERMAN
ASST. TREASURER	40.00	0.00		62737	0	14709	X
CHERIL A TIMSON
SR OPER OFFICER	40.00	0.00		86917	0	13038	X
MARIA F RAMOS
SR LOAN OFFICER	40.00	0.00		81769	0	13862	X

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	412538	TotalReportableCompFromOrg
Total Other Compensation	87176	TotalOtherCompensation
Number Individuals GT100 K	1	NumberIndividualsGT100K
Formers Listed	false	FormersListed
Total Comp GT150 K	true	TotalCompGT150K
Compensation From Other Sources	false	CompensationFromOtherSources

Contractor Compensation ContractorCompensation

Name Of Contractor NameOfContractor

Name Business NameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	FISERV INC	BusinessNameLine1

Address Of Contractor AddressOfContractor

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	255 FISERV DRIVE	AddressLine1
City	BROOKFIELD	City
State	WI	State
ZIP Code	53045	ZIPCode

Field	Value	IRS element (for citing)
Description Of Services	DATA PROCESSING (IT)	DescriptionOfServices
Compensation	243221	Compensation

Field	Value	IRS element (for citing)
Number Of Contractors GT100 K	1	NumberOfContractorsGT100K
Total Contributions	0	TotalContributions

Program Service Revenue ProgramServiceRevenue

Field	Value	IRS element (for citing)
Description	INTEREST ON LOANS	Description
Business Code	522100	BusinessCode
Total Revenue Column	1901700	TotalRevenueColumn
Related Or Exempt Function Income	1901700	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Program Service Revenue	1901700	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	918050	TotalRevenueColumn
Related Or Exempt Function Income	918050	RelatedOrExemptFunctionIncome

Income From Invest Bond Proceeds IncomeFromInvestBondProceeds

Field	Value	IRS element (for citing)
Total Revenue Column	0	TotalRevenueColumn

Royalties Revenue RoyaltiesRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	0	TotalRevenueColumn

Net Rental Income Or Loss NetRentalIncomeOrLoss

Field	Value	IRS element (for citing)
Total Revenue Column	0	TotalRevenueColumn

Net Gain Or Loss Investments NetGainOrLossInvestments

Field	Value	IRS element (for citing)
Total Revenue Column	0	TotalRevenueColumn

Net Income From Fundraising Events NetIncomeFromFundraisingEvents

Field	Value	IRS element (for citing)
Total Revenue Column	0	TotalRevenueColumn

Net Income From Gaming NetIncomeFromGaming

Field	Value	IRS element (for citing)
Total Revenue Column	0	TotalRevenueColumn

Net Income Or Loss NetIncomeOrLoss

Field	Value	IRS element (for citing)
Total Revenue Column	0	TotalRevenueColumn

Other Revenue Misc OtherRevenueMisc (3 entries)

DescriptionDescription	Business CodeBusinessCode	Total Revenue ColumnTotalRevenueColumn	Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome
SERVICE CHARGES AND FEES	900099	49993	49993
MISCELLANEOUS INCOME	900099	48622	48622
MEMBERS INSURANCE	900099	5627	5627

Miscellaneous Revenue MiscellaneousRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	5509	TotalRevenueColumn
Unrelated Business Revenue	5509	UnrelatedBusinessRevenue

Field	Value	IRS element (for citing)
Total Other Revenue	109751	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	2929501	TotalRevenueColumn
Related Or Exempt Function Income	2923992	RelatedOrExemptFunctionIncome
Unrelated Business Revenue	5509	UnrelatedBusinessRevenue

Grants To Domestic Orgs GrantsToDomesticOrgs

Field	Value	IRS element (for citing)
Total	0	Total

Grants To Domestic Individuals GrantsToDomesticIndividuals

Field	Value	IRS element (for citing)
Total	2500	Total
Program Services	2500	ProgramServices

Foreign Grants ForeignGrants

Field	Value	IRS element (for citing)
Total	0	Total

Benefits To Members BenefitsToMembers

Field	Value	IRS element (for citing)
Total	0	Total

Comp Current Officers Directors CompCurrentOfficersDirectors

Field	Value	IRS element (for citing)
Total	499714	Total
Management And General	499714	ManagementAndGeneral

Comp Disqual Persons CompDisqualPersons

Field	Value	IRS element (for citing)
Total	0	Total

Other Salaries And Wages OtherSalariesAndWages

Field	Value	IRS element (for citing)
Total	560804	Total
Management And General	560804	ManagementAndGeneral

Pension Plan Contributions PensionPlanContributions

Field	Value	IRS element (for citing)
Total	77585	Total
Management And General	77585	ManagementAndGeneral

Other Employee Benefits OtherEmployeeBenefits

Field	Value	IRS element (for citing)
Total	116109	Total
Management And General	116109	ManagementAndGeneral

Payroll Taxes PayrollTaxes

Field	Value	IRS element (for citing)
Total	75433	Total
Management And General	75433	ManagementAndGeneral

Fees For Services Management FeesForServicesManagement

Field	Value	IRS element (for citing)
Total	0	Total

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	3180	Total
Management And General	3180	ManagementAndGeneral

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	30675	Total
Management And General	30675	ManagementAndGeneral

Fees For Services Lobbying FeesForServicesLobbying

Field	Value	IRS element (for citing)
Total	0	Total

Fees For Services Prof Fundraising FeesForServicesProfFundraising

Field	Value	IRS element (for citing)
Total	0	Total

Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees

Field	Value	IRS element (for citing)
Total	0	Total

Fees For Services Other FeesForServicesOther

Field	Value	IRS element (for citing)
Total	0	Total

Advertising Advertising

Field	Value	IRS element (for citing)
Total	98895	Total
Management And General	98895	ManagementAndGeneral

Office Expenses OfficeExpenses

Field	Value	IRS element (for citing)
Total	29569	Total
Management And General	29569	ManagementAndGeneral

Information Technology InformationTechnology

Field	Value	IRS element (for citing)
Total	182015	Total
Management And General	182015	ManagementAndGeneral

Royalties Royalties

Field	Value	IRS element (for citing)
Total	0	Total

Occupancy Occupancy

Field	Value	IRS element (for citing)
Total	155809	Total
Management And General	155809	ManagementAndGeneral

Travel Travel

Field	Value	IRS element (for citing)
Total	0	Total

Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials

Field	Value	IRS element (for citing)
Total	0	Total

Conferences Meetings ConferencesMeetings

Field	Value	IRS element (for citing)
Total	40593	Total
Management And General	40593	ManagementAndGeneral

Interest Interest

Field	Value	IRS element (for citing)
Total	526151	Total
Program Services	526151	ProgramServices

Payments To Affiliates PaymentsToAffiliates

Field	Value	IRS element (for citing)
Total	0	Total

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	103971	Total
Management And General	103971	ManagementAndGeneral

Insurance Insurance

Field	Value	IRS element (for citing)
Total	33012	Total
Management And General	33012	ManagementAndGeneral

Other Expenses OtherExpenses (4 entries)

DescriptionDescription	TotalTotal	Management And GeneralManagementAndGeneral
Printing and Publications	21928	21928
NOW FEES	52820	52820
EQUIPMENT MAINTENANCE	58529	58529
NCUA IMPAIRMENT	67167	67167

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	136883	Total
Management And General	136883	ManagementAndGeneral

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	2873342	Total
Program Services	528651	ProgramServices
Management And General	2344691	ManagementAndGeneral
Fundraising	0	Fundraising

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	10586155	BOY
EOY	9821458	EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	29987431	BOY
EOY	31212337	EOY

Pledges And Grants Receivable PledgesAndGrantsReceivable

Field	Value	IRS element (for citing)
EOY	0	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
EOY	0	EOY

Receivables From Officers Etc ReceivablesFromOfficersEtc

Field	Value	IRS element (for citing)
BOY	301241	BOY
EOY	340326	EOY

Receivables From Disqual Persons ReceivablesFromDisqualPersons

Field	Value	IRS element (for citing)
EOY	0	EOY

Other Notes Loans Receivable Net OtherNotesLoansReceivableNet

Field	Value	IRS element (for citing)
BOY	45295675	BOY
EOY	42846198	EOY

Inventories For Sale Or Use InventoriesForSaleOrUse

Field	Value	IRS element (for citing)
EOY	0	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	24634	BOY
EOY	63559	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	2483070	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	1337512	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	1237769	BOY
EOY	1145558	EOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

Field	Value	IRS element (for citing)
BOY	20722336	BOY
EOY	21936473	EOY

Investments Other Securities InvestmentsOtherSecurities

Field	Value	IRS element (for citing)
BOY	382300	BOY
EOY	268200	EOY

Investments Program Related InvestmentsProgramRelated

Field	Value	IRS element (for citing)
EOY	0	EOY

Intangible Assets IntangibleAssets

Field	Value	IRS element (for citing)
EOY	0	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
BOY	968588	BOY
EOY	968845	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	109506129	BOY
EOY	108602954	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	58382	BOY
EOY	46393	EOY

Escrow Account Liability EscrowAccountLiability

Field	Value	IRS element (for citing)
BOY	313287	BOY
EOY	315356	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	74052019	BOY
EOY	71385593	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	74423688	BOY
EOY	71747342	EOY

Field	Value	IRS element (for citing)
Do Not Follow SFAS117	X	DoNotFollowSFAS117

Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc

Field	Value	IRS element (for citing)
BOY	35082441	BOY
EOY	36855612	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	35082441	BOY
EOY	36855612	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	109506129	BOY
EOY	108602954	EOY

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	X	InfoInScheduleOPartXI
Reconcilation Revenue Expenses	56159	ReconcilationRevenueExpenses
Reconcilation Other Changes	1717012	ReconcilationOtherChanges
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	false	AccountantCompileOrReview
FS Audited	false	FSAudited
Federal Grant Audit Required	false	FederalGrantAuditRequired

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Agent Trustee Etc	false	AgentTrusteeEtc
Included On FS	true	IncludedOnFS
Explanation In Part XIII	X	ExplanationInPartXIII

Land Land

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	49000	OtherCostOrOtherBasis
Book Value	49000	BookValue

Buildings Buildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	1676047	OtherCostOrOtherBasis
Depreciation	876890	Depreciation
Book Value	799157	BookValue

Leasehold Improvements LeaseholdImprovements

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	252626	OtherCostOrOtherBasis
Depreciation	81620	Depreciation
Book Value	171006	BookValue

Equipment Equipment

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	42221	OtherCostOrOtherBasis
Depreciation	9450	Depreciation
Book Value	32771	BookValue

Other Land Buildings OtherLandBuildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	463176	OtherCostOrOtherBasis
Depreciation	369552	Depreciation
Book Value	93624	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	1145558	TotalOfBookValueLandBuildings

Other Liabilities OtherLiabilities (2 entries)

DescriptionDescription	AmountAmount
OTHER LIABILITIES - SUSPENSE ACCTS	$29,508
MEMBER DEPOSITS	$71,356,085

Field	Value	IRS element (for citing)
Total Of Amounts	71385593	TotalOfAmounts

Form990 Schedule D Part XIII Form990ScheduleDPartXIII

Field	Value	IRS element (for citing)
Identifier	Part IV, Line 2b	Identifier
Return Reference	Part IV, Line 2b: Explanation of escrow account liability	ReturnReference
Explanation	MORTGAGE ESCROW ACCOUNTS HELD FOR THE PAYMENT OF REAL ESTATE TAXES FOR MUNICIPALITIES.	Explanation

Schedule F IRS990ScheduleF

Accts Actvs Out US Table AcctsActvsOutUSTable (3 entries)

RegionRegion	Type Of Activities ConductedTypeOfActivitiesConducted	Specific Services ProvidedSpecificServicesProvided	Total ExpendituresTotalExpenditures
CANADA	INVESTMENTS- BANK STOCK	BANK STOCK	99425
SPAIN	INVESTMENTS- BANK STOCK	BANK STOCK	4926
ISRAEL	INVESTMENTS- ISRAEL BONDS	INVESTMENTS	450000

Field	Value	IRS element (for citing)
Subtotal Amount Spent	554351	SubtotalAmountSpent
Total Amount Spent	554351	TotalAmountSpent
Transfer To Foreign Corp	false	TransferToForeignCorp
Interest In Foreign Trust	false	InterestInForeignTrust
Own Foreign Corp	false	OwnForeignCorp
Passive Foreign Invest Co	false	PassiveForeignInvestCo
Foreign Partnership	false	ForeignPartnership
Boycott Countries	false	BoycottCountries

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Travel For Companions	X	TravelForCompanions
Compensation Survey	X	CompensationSurvey
Board Or Committee Approval	X	BoardOrCommitteeApproval
Severance Payment	false	SeverancePayment
Supplemental Nonqual Retire Plan	false	SupplementalNonqualRetirePlan
Equity Based Comp Arrangement	false	EquityBasedCompArrangement

Form990 Schedule J Part II Form990ScheduleJPartII

Field	Value	IRS element (for citing)
Name Person	JAMES J SHERMAN	NamePerson
Title	President	Title
Base Compensation Filing Org	176000	BaseCompensationFilingOrg
Bonus Filing Org	1000	BonusFilingOrg
Other Compensation Filing Org	4115	OtherCompensationFilingOrg
Deferred Comp Filing Org	27167	DeferredCompFilingOrg
Nontaxable Benefits Filing Org	18400	NontaxableBenefitsFilingOrg
Total Compensation Filing Org	226682	TotalCompensationFilingOrg

Form990 Schedule J Part III Form990ScheduleJPartIII

Field	Value	IRS element (for citing)
Identifier	Sch J, Part I, Line 1a	Identifier
Return Reference	Part I, Line 1a: Relevant information in regards to selections on 1a.	ReturnReference

Schedule L IRS990ScheduleL

Loan Table LoanTable (6 entries)

Relationship With OrganizationRelationshipWithOrganization	Purpose Of LoanPurposeOfLoan	Loan From OrganizationLoanFromOrganization	Original PrincipalOriginalPrincipalAmount	DefaultDefault	Approved By BoardApprovedByBoard	Written AgreementWrittenAgreement	Balance DueBalanceDue
ADAM H SHERMAN
OFFICER	OVERDRAFT LOAN	X	$1,500	false	true	true
ADAM H SHERMAN
OFFICER	HELOC	X	$58,000	false	true	true	3708
ADAM H SHERMAN
OFFICER	1ST MORTGAGE	X	$180,000	false	true	true	152300
RICHARD KESSEL
DIRECTOR	TERM SHARE SECURED	X	$100,000	false	true	true	100000
EDWARD SHADOFF
DIRECTOR	HELOC	X	$100,000	false	true	true	84318
CHERIL A TIMSON
OFFICER	OVERDRAFT LOAN	X	$1,000	false	true	true

Field	Value	IRS element (for citing)
Total Balance Due	340326	TotalBalanceDue

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (7 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
Form 990, Part XI, Line 9	Other Changes In Net Assets Or Fund Balances - Other Increases	CHANGE IN MARKET VALUE DUE TO FAS115 = $1717012
Form 990, Part VI, Line 19	Form 990, Part VI, Line 19: Other Organization Documents Publicly Available	Information is posted in credit union lobby and available upon request.
Form 990, Part VI, Line 15b	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 15a	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 11b	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
Form 990, Part VI, Line 6	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 2	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, ASSISTANT TREASURER, IS THE SON OF JAMES J SHERMAN, PRESIDENT AND THE NEPHEW OF DIRECTOR HUBERT KREPLICK.