SCHEDULE O
(Form 990)

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
2021
Open to Public
Inspection
Name of the organization
First Area Credit Union
 
Employer identification number

38-1719216
Return Reference Explanation
Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder Section 501c(14) Credit Union is composed of members.
Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body Members vote on bylaw and charter changes. Members vote and elect Board members at annual meeting.
Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders Mergers are voted on by entire membership.
Form 990, Part VI, Line 11b: Form 990 Review Process Management reviews tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting.
Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts Employee loans are Management approved. Management loans are Board approved. Loans to Board members are approved by the Board minus the lendee.
Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees Executive and employee salaries are Board reviewed and approved. Board of directors are not compensated.
Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Credit union bylaws and conflict of interest policy are available upon request at the credit union's main office. Quarterly financial statements are displayed in the lobby which is accessible to the general public. Quarterly financial performance (Call) reports are also available at www.ncua.gov for all federally insured credit unions.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) 2021


Additional Data


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Software Version: 2021v4.0