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National Credit Union Service Organization

BROTHERHOOD CREDIT UNION

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.


ABA Routing Number: 211383956
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:5,222
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, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$111,888,397
CEO/Manager:Adam H Sherman
Chairperson:James J Sherman

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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