Sep, 30, 2025 — BROTHERHOOD CREDIT UNION is a federally insured state chartered credit union headquartered in LYNN, MA with 3 branch locations and about $124.44 million in total assets. Opened 92 years ago in 1934, BROTHERHOOD CREDIT UNION has about 5,303 members and employs 24 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BROTHERHOOD CREDIT UNION |
|---|---|
| Address: (Main Office) | 75 Market St LYNN, MA 01901 |
| Phone: | (781) 598-5555 |
| Fax: | (781) 598-1370 |
| Website: | https://brotherhoodcu.org/ |
| Branches: | 3 branch locations |
| Members: | 5,303 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66350 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $124,443,453 |
| CEO/Manager: | Adam H Sherman |
| Chairperson: | James J Sherman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,374,085 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 55,344,713 |
| Unsecured Loans | 604,463 |
| Other Loans | 7,010,285 |
| TOTAL LOANS | 62,959,461 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -117,313 |
| Land And Building | 419,944 |
| Other Fixed Assets | 342,691 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 663,418 |
| All Other Assets | 0 |
| TOTAL ASSETS | 124,443,453 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 334 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 906,264 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 9,797,117 |
| Regular shares | 18,884,085 |
| All Other Shares & Deposits | 43,513,330 |
| TOTAL SHARES & DEPOSITS | 72,194,532 |
| TOTAL LIABILITIES | 73,101,130 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 51,342,323 |
| TOTAL EQUITY | 51,342,323 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 124,443,453 |
| INCOME & EXPENSE | |
| Loan Income | 2,013,467 |
| Investment Income | 1,339,392 |
| Other Income | 45,188 |
| Total Employee Compensation & Benefits | 1,437,661 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 1,198,430 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -10,406 |
| Cost of Funds | 1,129,640 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,189,408 |
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