METRO CREDIT UNION: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- METRO CREDIT UNION (EIN 04-1695745)
- Tax period
- 2010-01-01 to 2010-12-31
- Filed
- 2011-09-28
- IRS object ID
- 201102719349300100
- Schema version
- 2010v3.4
- 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) |
|---|---|---|
| Timestamp | 2011-09-28T07:18:34-05:00 | Timestamp |
| Tax Period End Date | 2010-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WOLF & COMPANY PC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 99 HIGH STREET 21ST FLOOR | AddressLine1 |
| City | BOSTON | City |
| State | MA | State |
| ZIP Code | 02110 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 041695745 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Metro Credit Union | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | METR | NameControl |
| Phone | 6178897727 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 Revere Beach Parkway | AddressLine1 |
| City | Chelsea | City |
| State | MA | State |
| ZIP Code | 02150 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Eileen Danahey | Name |
| Title | Finance | Title |
| Phone | 6178897727 | Phone |
| Date Signed | 2011-09-23 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Michael J Rowe CPA | Name |
| Phone | 6174399700 | Phone |
| Date Prepared | 2011-09-21 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | Robert M Cashman | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 Revere Beach Parkway | AddressLine1 |
| City | Chelsea | City |
| State | MA | State |
| ZIP Code | 02150 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 139645215 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | www.metrocu.org | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1926 | YearFormation |
| State Legal Domicile | MA | StateLegalDomicile |
| Activity Or Mission Description | Metro Credit Union provides loan and deposit products to members that assist them in meeting their financial needs. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 12 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 9 | NbrIndependentVotingMembers |
| Total Nbr Employees | 279 | TotalNbrEmployees |
| Total Nbr Volunteers | 9 | TotalNbrVolunteers |
| Total Gross UBI | 439659 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 71793 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 42329175 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 39022572 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 2477608 | InvestmentIncomePriorYear |
| Investment Income Current Year | 3836149 | InvestmentIncomeCurrentYear |
| Other Revenue Current Year | 1917894 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 44806783 | TotalRevenuePriorYear |
| Total Revenue Current Year | 44776615 | TotalRevenueCurrentYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 12468989 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 13735706 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 29603600 | OtherExpensePriorYear |
| Other Expenses Current Year | 26657277 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 42072589 | TotalExpensesPriorYear |
| Total Expenses Current Year | 40392983 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 2734194 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 4383632 | RevenuesLessExpensesCY |
| Total Assets BOY | 768733767 | TotalAssetsBOY |
| Total Assets EOY | 784948389 | TotalAssetsEOY |
| Total Liabilities BOY | 681024211 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 693294052 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 87709556 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 91654337 | NetAssetsOrFundBalancesEOY |
| Mission Description | For 85 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 over $784 million in assets, more than 120,000 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 | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Expense | 7105662 | Expense |
| Grants | 0 | Grants |
| Revenue | 40500807 | Revenue |
| Description | Metro Credit Union provides loan and deposit products to members that assist them in meeting their financial needs. As of 12/31/2010, Metro Credit Union has net loans of $596.2 mil and share deposits of $663.4 mil. | Description |
| Total Program Service Expense | 7105662 | TotalProgramServiceExpense |
| Described In501 C3 | false | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| 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 | true | 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 | true | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | 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 |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | true | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | true | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | true | 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 | true | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transaction Related Entity | false | TransactionRelatedEntity |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 21987 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 279 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | true | UnrelatedBusinessIncome |
| Form990-T Filed | true | Form990-TFiled |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 12 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 9 | 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 | true | 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 | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | true | InvestmentInJointVenture |
| Written Policy Or Procedure | true | WrittenPolicyOrProcedure |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | EILEEN DANAHEY | NamePerson |
| Telephone Number | 6178897727 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 REVERE BEACH PARKWAY | AddressLine1 |
| City | Chelsea | City |
| State | MA | State |
| ZIP Code | 02150 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (19 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Key EmployeeKeyEmployee | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | FormerFormer |
|---|---|---|---|---|---|---|---|---|
| MARVIN L CASHMAN | ||||||||
| EVP/Chairman/Treasurer | 40.0 | X | X | X | 220620 | 0 | 27978 | |
| ROBERT M CASHMAN | ||||||||
| President/CEO | 40.0 | X | X | X | 552026 | 0 | 47120 | |
| A RICHARD SILVA | ||||||||
| Director | 2.0 | X | 0 | 0 | 0 | |||
| ARNOLD BAER | ||||||||
| Director | 2.0 | X | 0 | 0 | 0 | |||
| ARTHUR COHAN | ||||||||
| Director/Secretary | 2.0 | X | X | 0 | 0 | 0 | ||
| DAVID HOLTZMAN | ||||||||
| Director | 2.0 | X | 0 | 0 | 0 | |||
| IRVING GOLDBERG | ||||||||
| Director | 8.0 | X | 0 | 0 | 0 | |||
| JAMES HERNDON | ||||||||
| Director | 2.0 | X | 0 | 0 | 0 | |||
| JOSEPH ZANG | ||||||||
| Director | 2.0 | X | 0 | 0 | 0 | |||
| MARK SMOLLER | ||||||||
| Director | 2.0 | X | 0 | 0 | 0 | |||
| PAUL GULKO | ||||||||
| Director | 2.0 | X | 0 | 0 | 0 | |||
| PETER HARRIS | ||||||||
| Director | 2.0 | X | 0 | 0 | 0 | |||
| DOLORES BARRY | ||||||||
| Senior VP/Risk Management | 40.0 | X | 166162 | 0 | 13236 | |||
| CHARLENE BAUER | ||||||||
| Senior VP/Strategic Initiative | 40.0 | X | 164196 | 0 | 19667 | |||
| BARBARA CONTI | ||||||||
| Senior VP/HR | 40.0 | X | 127578 | 0 | 7327 | |||
| EILEEN DANAHEY | ||||||||
| Senior VP/CFO | 40.0 | X | 144269 | 0 | 11542 | |||
| THOMAS NADEAU | ||||||||
| Senior VP/Lending | 40.0 | X | 206250 | 0 | 4987 | |||
| THOMAS WAHL | ||||||||
| Senior VP/Inform Technology | 40.0 | X | 193546 | 0 | 21161 | |||
| PATRICIA POLLARD | ||||||||
| Former Senior VP/Marketing | 40.0 | 233883 | 0 | 7676 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 2008530 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 160694 | TotalOtherCompensation |
| Number Individuals GT100 K | 9 | NumberIndividualsGT100K |
| Formers Listed | true | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| SUFFOLK CONSTRUCTION | |||||
| 65 ALLERTON STREET | BOSTON | MA | 02119 | CONSTRUCTION SVCS | 2164904 |
| BLUE CHOICE | |||||
| PO BOX 415071 | BOSTON | MA | 02241 | MEDICAL INS. | 1181466 |
| FISERV SOLUTIONS | |||||
| 5 Middlesex Avenue | SOMERVILLE | MA | 02145 | DATA PROCESSING | 416413 |
| DIEBOLD | |||||
| 5995 MAYFAIR ROAD | NORTH CANTON | OH | 44720 | ATM SERVICES | 319906 |
| BOSTON GLOBE | |||||
| PO BOX 415071 | BOSTON | MA | 02241 | ADVERTISING | 273155 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 5 | NumberOfContractorsGT100K |
| Total Contributions | 0 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Business CodeBusinessCode | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| INTEREST INCOME LOANS | 33874584 | 33874584 | ||
| MEMBER FEES | 4812310 | 4572863 | 522100 | 239447 |
| LOAN FEES | 335678 | 276883 | 522100 | 58795 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 39022572 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1428559 | TotalRevenueColumn |
| Exclusion | $1,428,559 | ExclusionAmount |
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 |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 97276190 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 94868600 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 2407590 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 2407590 | TotalRevenueColumn |
| Exclusion | $2,407,590 | ExclusionAmount |
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 | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Business CodeBusinessCode | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| VISA FEES | 713957 | 713957 | ||
| BOLI INCOME | 124550 | 124550 | ||
| LIFE INSURANCE SALES | 141417 | 524298 | 141417 |
Miscellaneous Revenue MiscellaneousRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 937970 | TotalRevenueColumn |
| Related Or Exempt Function Income | 937970 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 1917894 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 44776615 | TotalRevenueColumn |
| Related Or Exempt Function Income | 40500807 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 439659 | UnrelatedBusinessRevenue |
| Exclusion | $3,836,149 | ExclusionAmount |
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 | 0 | Total |
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 | 1762673 | Total |
| Management And General | 1762673 | 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 | 9434996 | Total |
| Management And General | 9434996 | ManagementAndGeneral |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 552634 | Total |
| Management And General | 552634 | ManagementAndGeneral |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1122579 | Total |
| Management And General | 1122579 | ManagementAndGeneral |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 862824 | Total |
| Management And General | 862824 | ManagementAndGeneral |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
| Management And General | 0 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 347285 | Total |
| Management And General | 347285 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 184399 | Total |
| Management And General | 184399 | 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 |
| Management And General | 0 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 298682 | Total |
| Management And General | 298682 | ManagementAndGeneral |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1161979 | Total |
| Management And General | 1161979 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 493073 | Total |
| Management And General | 493073 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1729586 | Total |
| Management And General | 1729586 | ManagementAndGeneral |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
| Management And General | 0 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1984806 | Total |
| Management And General | 1984806 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 78250 | Total |
| Management And General | 78250 | ManagementAndGeneral |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
| Management And General | 0 | ManagementAndGeneral |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 107132 | Total |
| Management And General | 107132 | ManagementAndGeneral |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7519346 | Total |
| Program Services | 7105662 | ProgramServices |
| Management And General | 413684 | ManagementAndGeneral |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1254320 | Total |
| Management And General | 1254320 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 133069 | Total |
| Management And General | 133069 | ManagementAndGeneral |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal | Management And GeneralManagementAndGeneral |
|---|---|---|
| PROVISION FOR LOAN LOSS | 5177982 | 5177982 |
| DEPOSIT/LOAN/OTHER EXPENSES | 2111195 | 2111195 |
| NCUA ASSESSMENT | 1683424 | 1683424 |
| ATM DEBIT CARD EXPENSES | 1125933 | 1125933 |
| TELEPHONE | 705816 | 705816 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 561000 | Total |
| Management And General | 561000 | ManagementAndGeneral |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 40392983 | Total |
| Program Services | 7105662 | ProgramServices |
| Management And General | 33287321 | ManagementAndGeneral |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7207276 | BOY |
| EOY | 6283442 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 27697212 | BOY |
| EOY | 42019334 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 586315527 | BOY |
| EOY | 596244790 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1051512 | BOY |
| EOY | 1245644 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 35615518 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 10557946 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 22548970 | BOY |
| EOY | 25057572 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 33119355 | BOY |
| EOY | 41704467 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 74599700 | BOY |
| EOY | 55079800 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 314423 | BOY |
| EOY | 250554 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15879792 | BOY |
| EOY | 17062786 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 768733767 | BOY |
| EOY | 784948389 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7895784 | BOY |
| EOY | 7447284 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1180423 | BOY |
| EOY | 1166011 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15140175 | BOY |
| EOY | 19219225 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 656807829 | BOY |
| EOY | 665461532 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 681024211 | BOY |
| EOY | 693294052 | 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 | 87709556 | BOY |
| EOY | 91654337 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 87709556 | BOY |
| EOY | 91654337 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 768733767 | BOY |
| EOY | 784948389 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 4383632 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -438851 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
| Audit Committee | true | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amts | ArtPublicExhibitionAmts | |
| Held Works Of Art Amts | HeldWorksOfArtAmts | |
| Agent Trustee Etc | false | AgentTrusteeEtc |
| Included On FS | true | IncludedOnFS |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 8170464 | OtherCostOrOtherBasis |
| Book Value | 8170464 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 9172470 | OtherCostOrOtherBasis |
| Book Value | 9172470 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 519145 | OtherCostOrOtherBasis |
| Book Value | 519145 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 99825 | OtherCostOrOtherBasis |
| Book Value | 99825 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 7095668 | OtherCostOrOtherBasis |
| Book Value | 7095668 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 25057572 | TotalOfBookValueLandBuildings |
| Financial Derivatives | FinancialDerivatives | |
| Closely Held Equity Interests | CloselyHeldEquityInterests |
Other Securities OtherSecurities (3 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| CERTIFICATES OF DEPOSIT | 52410000 | C |
| FEDERAL HOME LOAN BANK STOCK | 2169800 | C |
| MEMBER CAPITAL SHARE DEPOSITS | 500000 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 55079800 | TotalOfBookValueSecurities |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| DEPOSITS | $663,443,215 |
| DUE TO BROKER | $2,018,317 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 665461532 | TotalOfAmounts |
| Total Revenue | 44776615 | TotalRevenue |
| Total Expenses | 40392983 | TotalExpenses |
| Excess Or Deficit For Year | 4383632 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -8653 | NetUnrealizedGLOnInvestments |
| Other | -$430,198 | OtherAmount |
| Total Adjustments | -438851 | TotalAdjustments |
| Excess Or Deficit Per FS | 3944781 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 44776615 | TotRevenueEtcAuditedFinclStmt |
| Revenue Subtotal | 44776615 | RevenueSubtotal |
| Total Revenue Per Form990 | 44776615 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 40392983 | TotExpensesEtcAuditedFinclStmt |
| Expenses Subtotal | 40392983 | ExpensesSubtotal |
| Total Expenses Per Form990 | 40392983 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Part IV Line 2b | Part IV Line 2b | The Credit Union holds funds in escrow to pay insurance and taxes for its members. |
| Part XI Line 8 | Part XI Line 8 | FAS 158 requires the Credit Union to recorded a change to the unrecognized net actuarial loss pertaining to its defined benefit plan each year. For the year ended 12/31/2010 an actural loss of $430,198 was recorded. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | true | SeverancePayment |
| Supplemental Nonqual Retire Plan | true | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (8 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DOLORES BARRY | ||||||||||||
| 149475 | 0 | 15100 | 0 | 1587 | 0 | 7778 | 0 | 5458 | 0 | 179398 | 0 | 0 |
| CHARLENE BAUER | ||||||||||||
| 148378 | 0 | 14700 | 0 | 1118 | 0 | 8154 | 0 | 11513 | 0 | 183863 | 0 | 0 |
| MARVIN L CASHMAN | ||||||||||||
| 200000 | 0 | 20000 | 0 | 620 | 0 | 23100 | 0 | 4878 | 0 | 248598 | 0 | 0 |
| ROBERT M CASHMAN | ||||||||||||
| 425000 | 0 | 120000 | 0 | 7026 | 0 | 35505 | 0 | 11615 | 0 | 599146 | 0 | |
| EILEEN DANAHEY | ||||||||||||
| 139269 | 0 | 5000 | 0 | 0 | 0 | 2123 | 0 | 9417 | 0 | 155809 | 0 | |
| THOMAS NADEAU | ||||||||||||
| 206250 | 0 | 0 | 0 | 0 | 0 | 3938 | 0 | 1049 | 0 | 211237 | 0 | |
| PATRICIA POLLARD | ||||||||||||
| 120841 | 0 | 24916 | 0 | 88126 | 0 | 6794 | 0 | 882 | 0 | 241559 | 0 | |
| THOMAS WAHL | ||||||||||||
| 174622 | 0 | 17300 | 0 | 1624 | 0 | 9596 | 0 | 11565 | 0 | 214707 | 0 | |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Severance pay | Schedule J Part I Line 4a | Patricia Pollard, a former key employee, received severence pay of $78,469 during 2010. |
| Non-qualifying deferred compensation | Schedule J Part I Line 4b | Mr. Marvin Cashman has a 457(b) deferred compensation plan. During 2010 $16,500 was contributed to the plan Mr. Robert Cashman has a 457(f) plan. The actuarial value of the plan increased $23,235 during 2010. |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV (3 entries)
| RelationshipRelationship | Amount Of TransactionAmountOfTransaction | Description Of TransactionDescriptionOfTransaction | Sharing Of RevenuesSharingOfRevenues |
|---|---|---|---|
| Suburban Services Eric Cohen | |||
| Family member of director | 153492 | Cleaning Services | false |
| Winbrook | |||
| David Holtzman Director | 139039 | Office Supplies | false |
| Smoller Insurance Agency | |||
| Mark Smoller Director | 101654 | Insurance agent | false |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Conflict of Interest Policy | Part VI, Section B, Question 12C | 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. |
| Compensation | Part VI, Section B, Question B | 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. |
| Form 990 Review | Part VI, Section B, Question 11 | All financial data reported reconciles to the year end financial statements presented to the Board of Directors. The return is reviewed by the CFO prior to transmitting. |
| Loans to officers and directors | Schedule L, Part II | 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. |
| Other changes in net assets | Form 990 page 12 Part XI Line 5 | Other Changes in net assets FAS 115 Unrealized gains/(losses) ($8,653) FAS 158 Pension Liabilities ($430,198) Total ($438,851) |
| Related officers | Form 990 Pg 6 Part VI Section A Line 2 | Marvin L Cashman, The Chairman of the Board of Directors is the Father of Robert M Cashman the Chief Executive Officer. |
| Members | Form 990 page 6 Part VI Section A Lines 6 & 7a | 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. |
| Availability of governing documents | Form 990 Page 6 Part VI Section C | 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. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part III Form990ScheduleRPartIII
Name Of Related Org NameOfRelatedOrg
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Northeast Member Business Services | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 180 Emerald Street | AddressLine1 |
| City | Keene | City |
| State | NH | State |
| ZIP Code | 03431 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Primary Activity | Loan Servicing | PrimaryActivity |
| Legal Domicile State | NH | LegalDomicileState |
| Share Of Total Income | 61092 | ShareOfTotalIncome |
| Share Of EOY Assets | 283660 | ShareOfEOYAssets |
| Disproportionate Allocations | false | DisproportionateAllocations |
| Code V | $0 | CodeVAmount |
| General Or Managing Partner | false | GeneralOrManagingPartner |
| Percentage Ownership | 0.23960 | PercentageOwnership |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | false | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | false | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | false | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | false | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | false | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | false | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | false | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | false | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | false | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | false | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | false | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | false | SharingOfFacilities |
| Sharing Of Paid Employees | false | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | false | OtherTransferToOtherOrg |
| Other Transfer From Other Org | false | OtherTransferFromOtherOrg |