2013-05-13T07:29:27-07:00 2012-12-31 ROBERT ANDERSON & COMPANY PC 138 DODGE ST BEVERLY MA 019151866 990 2012-01-01 041126132 BROTHERHOOD CREDIT UNION BROT 7815985555 75 MARKET STREET LYNN MA 01901 JAMES J SHERMAN 2013-05-13 true Robert Anderson P01462745 9782329300 2012 2016-02-25 16:41:14Z 2929501 false false X N/A CREDIT UNION MEMBER SERVICES 9 8 20 8 5509 -11035 0 2055947 1901700 1008903 918050 99558 109751 3164408 2929501 2500 0 1352157 1329645 0 0 1746266 1541197 3098423 2873342 65985 56159 109506129 108602954 74423688 71747342 35082441 36855612 CREDIT UNION MEMBER SERVICES false false 526151 MAINTENANCE OF MEMBERS' ACCOUNTS AND THE PAYMENT OF INTEREST AND DIVIDENDS THEREON. NUMBER OF ACCOUNTS 7,817. 1901700 MAKING LOANS TO MEMBERS AT INTEREST. NUMBER OF ACCOUNTS 1,080. 526151 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 2457 0 true 20 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 false false false false false false true true false X JAMES J SHERMAN 7815985555 75 MARKET STREET LYNN MA 01901 RICHARD KESSEL 2.00 0.00 X 0 0 0 ARNOLD DUBINSKY 2.00 0.00 X X 0 0 0 MARTIN SHUMAN 2.00 0.00 X 0 0 0 HUBERT KREPLICK 2.00 0.00 X 0 0 0 ALAN KALIKOW 2.00 0.00 X 0 0 0 HOWARD FIELD 2.00 0.00 X 0 0 0 EDWARD I SHADOFF 2.00 0.00 X 0 0 0 DARREN KLEIN 2.00 0.00 X 0 0 0 JAMES J SHERMAN 40.00 0.00 X X 181115 0 45567 ADAM H SHERMAN 40.00 0.00 X 62737 0 14709 CHERIL A TIMSON 40.00 0.00 X 86917 0 13038 MARIA F RAMOS 40.00 0.00 X 81769 0 13862 412538 87176 1 false true false FISERV INC 255 FISERV DRIVE BROOKFIELD WI 53045 DATA PROCESSING (IT) 243221 1 0 INTEREST ON LOANS 522100 1901700 1901700 1901700 918050 918050 0 0 0 0 0 0 0 SERVICE CHARGES AND FEES 900099 49993 49993 MISCELLANEOUS INCOME 900099 48622 48622 MEMBERS INSURANCE 900099 5627 5627 5509 5509 109751 2929501 2923992 5509 0 2500 2500 0 0 499714 499714 0 560804 560804 77585 77585 116109 116109 75433 75433 0 3180 3180 30675 30675 0 0 0 0 98895 98895 29569 29569 182015 182015 0 155809 155809 0 0 40593 40593 526151 526151 0 103971 103971 33012 33012 Printing and Publications 21928 21928 NOW FEES 52820 52820 EQUIPMENT MAINTENANCE 58529 58529 NCUA IMPAIRMENT 67167 67167 136883 136883 2873342 528651 2344691 0 10586155 9821458 29987431 31212337 0 0 301241 340326 0 45295675 42846198 0 24634 63559 2483070 1337512 1237769 1145558 20722336 21936473 382300 268200 0 0 968588 968845 109506129 108602954 58382 46393 313287 315356 74052019 71385593 74423688 71747342 X 35082441 36855612 35082441 36855612 109506129 108602954 X 56159 1717012 X false false false false true X 49000 49000 1676047 876890 799157 252626 81620 171006 42221 9450 32771 463176 369552 93624 1145558 OTHER LIABILITIES - SUSPENSE ACCTS 29508 MEMBER DEPOSITS 71356085 71385593 Part IV, Line 2b Part IV, Line 2b: Explanation of escrow account liability MORTGAGE ESCROW ACCOUNTS HELD FOR THE PAYMENT OF REAL ESTATE TAXES FOR MUNICIPALITIES. CANADA 0 0 INVESTMENTS- BANK STOCK BANK STOCK 99425 SPAIN 0 0 INVESTMENTS- BANK STOCK BANK STOCK 4926 ISRAEL 0 0 INVESTMENTS- ISRAEL BONDS INVESTMENTS 450000 554351 554351 false false false false false false X X X false false false JAMES J SHERMAN 176000 1000 4115 27167 18400 226682 Sch J, Part I, Line 1a Part I, Line 1a: Relevant information in regards to selections on 1a. ADAM H SHERMAN OFFICER OVERDRAFT LOAN X 1500 false true true ADAM H SHERMAN OFFICER HELOC X 58000 3708 false true true ADAM H SHERMAN OFFICER 1ST MORTGAGE X 180000 152300 false true true RICHARD KESSEL DIRECTOR TERM SHARE SECURED X 100000 100000 false true true EDWARD SHADOFF DIRECTOR HELOC X 100000 84318 false true true CHERIL A TIMSON OFFICER OVERDRAFT LOAN X 1000 false true true 340326 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.