FORM 990, PART VI, SECTION A, LINE 6 |
THE CREDIT UNION CURRENTLY HAS 30,261 MEMBERS. |
FORM 990, PART VI, SECTION A, LINE 7A |
THE MEMBERS OF THE CREDIT UNION ARE RESPONSIBLE FOR ELECTING THE BOARD OF DIRECTORS. |
FORM 990, PART VI, SECTION A, LINE 7B |
THE MEMBERS OF THE CREDIT UNION MUST APPROVE MERGERS INTO ANOTHER CREDIT UNION. ALL OTHER DECISIONS MAY BE MADE BY THE BOARD OF DIRECTORS. |
FORM 990, PART VI, SECTION B, LINE 11B |
THE CEO AND CFO OF THE CREDIT UNION REVIEW THE 990 DRAFT BEFORE FILING. ADDITIONALLY, AN ELECTRONIC COPY OF THE 990 DRAFT IS SENT TO THE BOARD OF DIRECTORS FOR THEIR REVIEW VIA EMAIL BEFORE THE RETURN IS FILED. ALL OF THE BOARD MEMBERS ARE GIVEN THE OPPORTUNITY TO CONTACT THE CREDIT UNION'S MANAGEMENT WITH ANY QUESTIONS OR CONCERNS THEY HAD REGARDING THE 990 RETURN. |
FORM 990, PART VI, SECTION B, LINE 12C |
ON AN ANNUAL BASIS, ALL DIRECTORS, OFFICERS, AND EMPLOYEES OF THE CREDIT UNION COMPLETE A CONFLICT OF INTEREST POLICY QUESTIONNAIRE. THE CONFLICT OF INTEREST QUESTIONNAIRES ARE THEN REVIEWED BY SHANNON VAN MALSEN, COMPLIANCE OFFICER, FOR POTENTIAL CONFLICTS. IF AN ACTUAL CONFLICT OF INTEREST IS IDENTIFIED, THE DIRECTOR WILL ABSTAIN FROM VOTING ON THE ISSUE AT HAND. |
FORM 990, PART VI, SECTION B, LINE 15 |
SALARIES FOR THE CEO, OFFICERS, AND KEY EMPLOYEES ARE COMPARED TO THOSE REPORTED IN VARIOUS PUBLICATIONS FOR SIMILAR ORGANIZATIONS IN THE INDUSTRY AND MAY BE ADJUSTED FOR AN EMPLOYEE'S PERFORMANCE. COMPENSATION FOR THE CEO, OFFICERS, AND KEY EMPLOYEES ARE THEN DETERMINED, REVIEWED BY AN INDEPENDENT PARTY, AND APPROVED BY THE BOARD OF DIRECTORS. THIS PROCESS WAS LAST UNDERTAKEN IN 2018. |
FORM 990, PART VI, SECTION C, LINE 19 |
THE MONTHLY FINANCIAL STATEMENTS OF THE CREDIT UNION ARE POSTED IN THE LOBBY OF EACH BRANCH. OTHER INFORMATION SUCH AS THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. |
FORM 990, PART XI, LINE 9: |
UNREALIZED GAIN ON POSTRETIREMENT AND PENSION BENEFITS -59,741. CHANGE IN VALUE OF CREDIT UNION-OWNED LIFE INSURANCE 169,004. |
FORM 990, PART XII, LINE 2C: |
THE BOARD OF DIRECTORS HAS ESTABLISHED THE AUDIT COMMITTEE, WHICH IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT REVIEW AND SELECTION OF AN INDEPENDENT AUDITOR. THE AUDIT COMMITTEE APPROVES AN INDEPENDENT AUDITOR EACH YEAR AND MEETS TO REVIEW THE INDEPENDENT AUDITOR'S REPORT AFTER THE AUDIT IS COMPLETE. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
FORM 990, PART X, LINE 5 AND SCHEDULE L: |
SCHEDULE L IS NOT REQUIRED FOR LOANS RECEIVABLE BALANCES ON FORM 990, PART X, LINE 5 IF THE LOANS ARE MADE BY THE CREDIT UNION TO THE DIRECTORS, OFFICERS, AND KEY EMPLOYEES ON THE SAME TERMS OFFERED TO OTHER MEMBERS OF THE CREDIT UNION. THEREFORE, THE CREDIT UNION HAS INCLUDED $1,973,187 AND $2,139,904 OF RECEIVABLES FROM CURRENT OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES FOR 2019 AND 2018, RESPECTIVELY, WITHIN FORM 990, PART X, LINE 7. |