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
2020
Open to Public
Inspection
Name of the organization
EDUCATIONAL EMPLOYEES CREDIT UNION
 
Employer identification number

94-1031345
Return Reference Explanation
FORM 990, PART VI, SECTION A, LINE 6 EDUCATIONAL EMPLOYEES CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS, AND OPERATED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS TO ITS MEMBERS. EDUCATIONAL EMPLOYEES CREDIT UNION DOES NOT HAVE STOCKHOLDERS.
FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF THE CREDIT UNION IS COMPRISED OF VOLUNTEER MEMBERS WHO ARE DIRECTLY ELECTED BY ITS MEMBERS. EACH MEMBER OF THE GOVERNING BOARD SERVES FOR A PERIOD AS PRESCRIBED BY OUR BY-LAWS.
FORM 990, PART VI, SECTION A, LINE 7B AT THE END OF EACH TERM OF THE BOARD MEMBERS, ELECTIONS ARE HELD AND BOARD MEMBERS ARE VOTED BY THE MEMBERS OF THE CREDIT UNION PURSUANT TO ITS BY-LAWS. MEMBER VOTES ARE ALSO REQUIRED TO RATIFY DECISIONS DEALING WITH REORGANIZATIONS AS IN THE CASE OF MERGER OR DISSOLUTION.
FORM 990, PART VI, SECTION B, LINE 11B THE RETURN IS REVIEWED BY THE CONTROLLER, CFO AND CEO. ADDITIONALLY THE RETURN WILL BE PROVIDED TO THE BOARD MEMBERS BEFORE IT IS SUBMITTED.
FORM 990, PART VI, SECTION B, LINE 12C ALL DIRECTORS AND EMPLOYEES MUST ANNUALLY ATTEND A CODE OF CONDUCT TRAINING PRESENTATION WHICH INCLUDES CONFLICT OF INTEREST PROVISIONS. THEIR REQUIRED ATTENDANCE IS EVIDENCED THROUGH A SIGNED ACKNOWLEDGEMENT. IN ADDITION, ALL PROSPECTIVE DIRECTORS SIGN AN ADDITIONAL CONFLICT OF INTEREST STATEMENT.
FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS HIRES AN INDEPENDENT OUTSIDE FIRM THAT SPECIALIZES IN THIS AREA FOR BOTH THE ANNUAL REVIEW AND SALARY STRUCTURE FOR THE CEO. IN ADDITION THE CREDIT UNION USES THE RESULTS OF SEVERAL SURVEYS IN SETTING THE CEO'S COMPENSATION. FOR THE SVP'S AND ALL OTHER KEY EMPLOYEES SURVEYS ARE CONSULTED WHICH SUPPORT SALARY LEVELS AND DUTIES. ALL EMPLOYEES RECEIVE ANNUAL REVIEWS.
FORM 990, PART VI, SECTION C, LINE 19 CERTAIN GOVERNING DOCUMENTS AND POLICIES MAY BE MADE AVAILABLE BY WRITTEN REQUEST THROUGH THE CREDIT UNION'S BOARD APPROVED RECORDS INSPECTION POLICY. FINANCIAL STATEMENTS ARE POSTED AND AVAILABLE TO THE PUBLIC AT EACH CREDIT UNION BRANCH OFFICE ON A MONTHLY BASIS. IN ADDITION, AN ANNUAL REPORT IS MADE AVAILABLE AT THE CREDIT UNION'S ANNUAL MEETING OF MEMBERS.
FORM 990, PART XI, LINE 9: CHANGE IN OTHER COMPREHENSIVE INCOME 505,934. ROUNDING -1.
FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2020


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