2013-05-06T11:55:39-07:00 2012-12-31 ROBERT ANDERSON & COMPANY PC 138 DODGE ST BEVERLY MA 019151866 990 2012-01-01 042015276 SEAPORT CREDIT UNION SEAP 9787441153 336 LAFAYETTE STREET SALEM MA 01970 PATRICIA WARREN 2013-05-06 true Robert Anderson P01462745 9782329300 2012 2016-02-25 16:41:14Z 15175745 false false X N/A CREDIT UNION- THRIFT SERVICES 9 8 17 8 3502 -6200 0 1606019 1477634 444444 624813 266935 308445 2317398 2410892 0 0 816066 842425 0 0 1551714 1546325 2367780 2388750 -50382 22142 58393237 60332636 49143953 51092613 9249284 9240023 CREDIT UNION- THRIFT SERVICES false false 240907 MAINTENANCE OF MEMBERS' SHARE AND DEPOSIT ACCOUNTS AND THE PAYMENT OF INTEREST THEREON. NUMBER OF ACCOUNTS 5,982. 1477634 MAINTENANCE OF MEMBERS' LOAN ACCOUNTS. NUMBER OF ACCOUNTS 1,026. 240907 false false false false false false false false true false true false false false true false true false false false false false false false false false false false false false false false false false false false true false false false false false false false false false false false false false false true 1029 0 true 17 true true false false false false false false false false false false X 9 8 false false false false true true false true true false false false false false false true true true true false X PATRICIA WARREN 9787441153 336 LAFAYETTE STREET SALEM MA 01970 ROBERT G SPYCHALSKI 1.00 0.00 X 0 0 0 LAWRENCE RAUSCH 1.00 0.00 X 0 0 0 MARCEL NADEAU 1.50 0.00 X 0 0 0 PATRICIA WARREN 40.00 0.00 X X 120261 0 18471 PAUL LEVESQUE 1.00 0.00 X X 0 0 0 DAVID LAMONTAGNE 1.50 0.00 X X 0 0 0 PATRICIA LABRIE 1.00 0.00 X 0 0 0 J RICHARD JULIEN 2.00 0.00 X X 0 0 0 PETER HOMAN 1.00 0.00 X X 0 0 0 WILLIAM A KEANE 40.00 0.00 X 86978 0 24146 PATRICIA TARR 40.00 0.00 X 57073 0 15712 ANN MARIE WAUGH 40.00 0.00 X 69778 0 17468 334090 75797 1 false false false FISERV 75 REMITTANCE DRIVE SUITE 6974 CHICAGO IL 60675 DATA PROCESSOR 167365 1 0 INTEREST-REAL ESTATE LOAN 522292 1267830 1267830 INTEREST- CONSUMER LOANS 522291 209804 209804 1477634 272384 272384 0 0 0 4235908 8881374 4187171 8577682 48737 303692 352429 352429 0 0 0 OTHER INCOME 900099 300993 300993 ATM INCOME 7452 3950 3502 308445 2410892 2407390 3502 0 0 0 0 409888 409888 0 325386 325386 24795 24795 23666 23666 58690 58690 0 0 11200 11200 0 0 0 0 156517 156517 88644 88644 187022 187022 0 57214 57214 0 0 17886 17886 429846 240907 188939 0 103839 103839 15615 15615 LOAN SERVICING 47713 47713 PROFESSIONAL FEES 58715 58715 ATM EXPENSE 64392 64392 PROVISION FOR LOAN LOSSES 156460 156460 151262 151262 2388750 240907 2147843 0 381379 361840 16536290 19734732 0 0 558441 569618 0 33021025 32120501 0 63495 49144 2047634 810037 1224234 1237597 4458231 4017493 1070500 945900 0 0 1079642 1295811 58393237 60332636 118742 94893 110759 91753 14000000 14000000 34914452 36905967 49143953 51092613 X 9249284 9240023 9249284 9240023 58393237 60332636 X 22142 -31403 X false true X true false false true X 75000 75000 1378175 599634 778541 34550 7388 27162 559909 203015 356894 1237597 OTHER LIABILITIES 489900 MEMBER SHARES AND DEPOSIT ACCOUNTS 36416067 36905967 2410892 2410892 2410892 2388750 2388750 2388750 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. MARCEL NADEAU DIRECTOR MC X 5000 false true true MARCEL NADEAU DIRECTOR MC X 10000 3941 false true true PAUL LEVESQUE DIRECTOR AUTO X 29600 19642 false true true RICHARD JULIEN DIRECTOR MC X 5000 false true true RICHARD JULIEN DIRECTOR MC X 5000 2095 false true true WILLIAM KEANE OFFICER AUTO X 4014 1141 false true true J RICHARD JULIEN DIRECTOR CREDIT CARD X 10000 299 false true true LAWRENCE RAUSCH DIRECTOR AUTO X 16315 3927 false true true WILLIAM KEANE OFFICER AUTO LOAN X 21025 7013 false true true ROBERT SPYCHALSKI DIRECTOR AUTO X 32013 19838 false true true MARCEL R NADEAU CREDIT CARD X 10000 false true true MARCEL R NADEAU DIRECTOR AUTO X 19025 false true true MARCEL R NADEAU DIRECTOR HOME EQUITY X 25000 false true true MARCEL R NADEAU DIRECTOR MORTGAGE X 250000 204191 false true true PAUL P LEVESQUE DIRCTOR CREDIT CARD X 10000 1503 false true true PAUL P LEVESQUE DIRECTOR HOME EQUITY X 130000 119506 false true true PAUL P LEVESQUE DIRECTOR MORTGAGE X 108000 57621 false true true J RICHARD JULIEN DIRECTOR MORTGAGE X 152000 106911 false true true J RICHARD JULIEN DIRECTOR MORTGAGE X 82000 17719 false true true PATRICIA A WARREN DIRECTOR OVERDRAFT X 5000 4271 false true true 569618 Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Decreases CHANGE IN FAS115- UNREALIZED GAIN/LOSS = -$31403 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 CEO- DETERMINED BY THE PERSONNEL COMMITTTEE BASED ON INDUSTRY STANDARDS AND SPECIFIC ACHIEVEMENTSS.OFFICERS/KEY EMPLOYEES - DETERMINED BY CEO UTILIZING SAME STANDARDS AS ABOVE. Form 990, Part VI, Line 11b Form 990, Part VI, Line 11b: Form 990 Review Process RESULTS OF THE 990 ARE REVIEWED WITH THE AUDIT COMMITTEE. DUE TO THE TIMING OF THE FILING DUE DATE AND WHEN THE RETURN PREPARED, THE REVIEW MAY BE AFTER FILING. 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.