Form 990, Part VI, Section A, Line 4 |
The Credit Union had a Field of Membership change. |
Form 990, Part VI, Section A, Line 6 |
The Credit Union has a single class of members with equal rights of ownership, governance and voting. |
Form 990, Part VI, Section A, Line 7a |
The Board is elected by members voting at the annual meeting for 3 year terms. |
Form 990, Part VI, Section A, Line 7b |
The Credit Union needs member approval for mergers. |
Form 990, Part VI, Section B, Line 11b |
The 990 is reviewed by the CEO prior to filing and made available to the Board of Directors to review. |
Form 990, Part VI, Section B, Line 12c |
Conflicts of interest policy are reviewed at the annual meeting and monitored by the internal compliance auditor. |
Form 990, Part VI, Section B, Line 15 |
Compensation committee establishes compensation for the CEO using independent consultant and surveys. The compensation is approved by the Board of Directors. Last compensation review for the CEO was in 2014. Vice President of Finance compensation is determined by the CEO with approval from the Board based on CUES and MI Credit Union League surveys and bonus paid by goals being met. Vice President of Finance compensation review was completed in 2014. |
Form 990, Part VI, Section C, Line 19 |
The monthly financial statements are posted in the Credit Union lobby. All other documents and policies are available for review upon request. |
Form 990, Part XI, Line 9 |
Equity Acquired in Merger $73,035 |