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 990-EZ or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2017
Open to Public
Inspection
Name of the organization
FIRST NORTHERN CREDIT UNION
 
Employer identification number

36-2009178
Return Reference Explanation
FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP ELIGIBILITY REQUIREMENTS ARE DOCUMENTED IN THE ORGANIZATION'S BY-LAWS. MEMBERSHIP IS ACHIEVED BY MAINTAINING A COMMON SHARE DEPOSIT ACCOUNT OF $5.00 OR GREATER.
FORM 990, PART VI, SECTION A, LINE 7A CREDIT UNION HOLDS A MEETING OF THE ENTIRE MEMBERSHIP ANNUALLY, AT WHICH THE MEMBERSHIP ELECTS THE MEMBERS OF THE BOARD OF DIRECTORS TO ONE YEAR TERMS. ALL ELIGIBLE MEMBERS OF THE CREDIT UNION ARE INVITED TO ATTEND THE MEETING AND VOTE.
FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED FOR ACCURACY BY THE CREDIT UNION'S CONTROLLER PRIOR TO BEING SUBMITTED TO OUR EXTERNAL AUDITORS FOR ELECTRONIC FILING.
FORM 990, PART VI, SECTION B, LINE 12C ANNUAL CONFLICT OF INTEREST POLICIES ARE DISTRIBUTED TO ALL EMPLOYEES AND DIRECTORS BY THE CREDIT UNION'S INTERNAL AUDITOR. ALL FORMS ARE TO BE SIGNED AND RETURNED TO INTERNAL AUDIT, WHO ARE RESPONSIBLE FOR MAINTAINING ALL RECORDS. DATA INCLUDED ON FORMS IS REVIEWED AND TESTED BY INTERNAL AUDIT ON AN ON-GOING BASIS.
FORM 990, PART VI, SECTION B, LINE 15 INDEPENDENT CONSULTANT IS USED TO ESTABLISH AND MAINTAIN GRADE LEVELS AND SALARY RANGES WITHIN EACH GRADE. OVERALL MERIT INCREASE IS SUBMITTED BY THE COMPENSATION COMMITTEE TO THE BOARD OF DIRECTORS FOR APPROVAL ANNUALLY. INDIVIDUAL SALARY INCREASES FOR OTHER OFFICERS AND KEY EMPLOYEES ARE DETERMINED BY THE EMPLOYEES' INDIVIDUAL PERFORMANCE APPRAISALS. CEO SALARY IS ESTABLISHED BY THE BOARD OF DIRECTORS ANNUALLY.
FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE AVAILABLE TO OUR MEMBERSHIP UPON REQUEST. FINANCIAL STATEMENTS ARE AVAILABLE TO OUR MEMBERS AND THE GENERAL PUBLIC VIA THE NCUA'S WEB SITE. ADDITIONALLY, YEAR-END FINANCIAL STATEMENTS ARE PROVIDED TO THE MEMBERSHIP VIA OUR PUBLISHED ANNUAL REPORT.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2017


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