SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public
Inspection
Name of the organization
PROSPERA CREDIT UNION
 
Employer identification number

39-0744917
Return Reference Explanation
FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS MADE UP OF INDIVIDUAL MEMBERS
FORM 990, PART VI, SECTION A, LINE 7A CREDIT UNIONS ONLY HAVE ONE CLASS OF MEMBERS.
FORM 990, PART VI, SECTION A, LINE 7B BOARD MEMBER ELECTIONS AND BYLAW AMENDMENTS ARE SUBJECT TO THE APPROVAL OF OUR MEMBERS.
FORM 990, PART VI, SECTION B, LINE 11 THE CFO REVIEWS. ONCE THE FINAL DRAFT IS PREPARED, IT IS SHARED WITH THE CEO & DIRECTORS.
FORM 990, PART VI, SECTION B, LINE 12C WRITTEN RECORDS ARE KEPT AND THE BOARD REVIEWS AS SITUATIONS ARISE.
FORM 990, PART VI, SECTION B, LINE 15 EACH YEAR THE CEO AND SENIOR MANAGEMENT'S PERFORMANCE ARE REVIEWED BY THE GOVERNANCE COMMITTEE. THE COMMITTEE HAS A COMPENSATION POLICY THAT WAS APPROVED BY THE BOARD AND THEY USE THIS POLICY IN DETERMINING COMPENSATION. INDEPENDENT THIRD PARTY INFORMATION THAT THE COMMITTEE MAY USE IS INDUSTRY GATHERED DATA, SUCH AS THE CUNA AND CUES COMPENSATION SURVEYS. THEY CAN ALSO USE INDEPENDENT RESEARCH THAT THEY THEMSELVES CONDUCT OR SOME OTHER THIRD PARTY. THE REVIEW PROCESS PLUS THIS INDEPENDENT INFORMATION IS THEN FORMULATED INTO A RECOMMENDATION TO THE BOARD. THE BOARD THEN HAS THE FINAL APPROVAL FOR CHANGES TO COMPENSATION FOR THE CEO AND OTHER MEMBERS OF THE SENIOR MANAGEMENT TEAM.
FORM 990, PART VI, SECTION C, LINE 19 WILL BE MADE AVAILABLE UPON REQUEST.
FORM 990, PART XI, LINE 9: OTHER COMPREHENSIVE INCOME/LOSS 612,073.
FORM 990 PART XII LINE 2B FINANCIAL INSTITUTION WAS AUDITED AS OF SEPTEMBER 30.
FORM 990 PART XII LINE 2C THE BOARD OF DIRECTORS IS THE CREDIT UNION'S COMMITTEE THAT ASSUMES RESPONSIBILTY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF THE INDEPENDENT ACCOUNTANT TO PERFORM THE AUDIT. THE PROCESS HAS NOT CHANGED FROM PRIOR YEARS.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2013

Additional Data


Software ID:  
Software Version: