Dec, 31, 2023 — BROTHERHOOD CREDIT UNION is a federally insured state chartered credit union headquartered in LYNN, MA with 3 branch locations and about $111.89 million in total assets. Opened 90 years ago in 1934, BROTHERHOOD CREDIT UNION has about 5,222 members and employs 25 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 |
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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: | 5,222 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 66350 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1934 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $111,888,397 |
CEO/Manager: | Adam H Sherman |
Chairperson: | James J Sherman |
ASSETS: | $ Amount |
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Cash & Equivalents | 4,818,230 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 56,436,139 |
Unsecured Loans | 634,368 |
Other Loans | 6,834,330 |
TOTAL LOANS | 63,904,838 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -147,375 |
Land And Building | 510,995 |
Other Fixed Assets | 302,617 |
NCUSIF Deposit | 696,601 |
All Other Assets | 0 |
TOTAL ASSETS | 111,888,397 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 2,376 |
Notes & Interest Payable | 2,900,000 |
Accounts Payable & Other Liabilities | 801,340 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 9,632,111 |
Regular shares | 19,898,231 |
All Other Shares & Deposits | 35,083,841 |
TOTAL SHARES & DEPOSITS | 64,614,183 |
TOTAL LIABILITIES | 68,317,899 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 43,570,498 |
TOTAL EQUITY | 43,570,498 |
TOTAL LIABILITIES, SHARES, & EQUITY | 111,888,397 |
INCOME & EXPENSE | |
Loan Income | 2,467,326 |
Investment Income | 1,166,219 |
Other Income | 57,092 |
Total Employee Compensation & Benefits | 1,803,963 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,501,880 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 8,281 |
Cost of Funds | 842,400 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 597,799 |
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