Form 990, Part VI, Section A, Line 6 |
First South Financial Credit Union is a mutual association which is owned by its members who have funds on deposit. Any individual or business located, working, worshipping, or attending school in the counties of Shelby, Tipton, Fayette, Dyer, or Madison in Tennessee, or in the counties of Marshall, Tunica, Tate, or DeSoto in Mississippi are eligible for membership. |
Form 990, Part VI, Section A, Line 7a |
The members of the Board of Directors are elected by the members of First South Financial Credit Union. |
Form 990, Part VI, Section A, Line 7b |
The bylaws of First South Financial Credit Union require that certain decisions be approved by the membership. |
Form 990, Part VI, Section B, Line 11b |
The IRS Form 9090 for 2017 was prepared by the Chief Financial Officer and was reviewed by the Chief Executive Officer. |
Form 990, Part VI, Section B, Line 12c |
The employee policy manual, which is updated annually and approved by the Board of Directors, addresses conflict of interest. The approval of the Board of Directors is documented in the minutes of the the Board of Directors. |
Form 990, Part VI, Section B, Line 15 |
The compensation of the President/Chief Executive Officer is determined by the committee of the Board of Directors. The compensation of the other employees is determined by the President/Chief Executive Officer. In every instance, compensation is determined after considering performance of the employees, market conditions, survey, and analysis performed by external consultants. |
Form 990, Part VI, Section C, Line 19 |
Documents are available to the public upon request during normal business hours. |