TY 2022 Form 990 Schedule O

efile Public Visual Render ObjectId: 202313189349301411 - Submission: 2023-11-14 TIN: 23-1320654

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.
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Attach to Form 990 or 990-EZ.
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Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2022

Open to Public
Inspection

Name of the organization

DIAMOND CREDIT UNION

Employer identification number

23-1320654

Return Reference	Explanation
FORM 990, PART V, LINE 1C	THE ORGANIZATION DID HAVE INSTANCES WHERE BACKUP WITHHOLDING WAS REQUIRED IN THE AMOUNT OF $17.51, AND HAS BEEN REPORTED ACCORDING TO REPORTING REQUIREMENTS.
FORM 990, PART VI, SECTION A, LINE 6	A MEMBER IS ANYONE WHO LIVES, WORKS, WORSHIPS, REGULARLY CONDUCTS BUSINESS, OR ATTENDS SCHOOL IN BERKS COUNTY AND THE TRI-COUNTY REGION. A MEMBER IS REQUIRED TO PURCHASE AND MAINTAIN THE MINIMUM REQUIRED SHARE(S) (MEMBERSHIP SHARE $5.00).
FORM 990, PART VI, SECTION A, LINE 7A	ALL MEMBERS IN GOOD STANDING WHO ARE AT LEAST 16 YEARS OF AGE RECEIVE ONE VOTE.
FORM 990, PART VI, SECTION A, LINE 7B	DECISIONS REQUIRING APPROVAL OF MEMBERS, AS DESCRIBED IN PART VI, SECTION A, LINE 7A, ARE AS FOLLOWS: MEMBERS OF THE GOVERNING BODY CHARTER OR NAME CHANGE MERGER
FORM 990, PART VI, SECTION B, LINE 11B	THE ACCOUNTING MANAGER AND VICE PRESIDENT OF HUMAN RESOURCES REVIEW FORM 990 TO ENSURE INFORMATION PROVIDED HAS BEEN PROPERLY REPORTED. ADDITIONALLY, THE CFO REVIEWS FORM 990 TO ENSURE PROPER REPORTING.
FORM 990, PART VI, SECTION B, LINE 12C	DIAMOND CREDIT UNION ANNUALLY DISTRIBUTES, DISCUSSES, AND RECEIVES BACK SIGNED ACKNOWLEDGEMENTS OF BANK BRIBERY ACT POLICIES.
FORM 990, PART VI, SECTION B, LINE 15	THE PERSONNEL COMMITTEE, WHICH CONSISTS OF A SUB-SET OF BOARD MEMBERS, OBTAINS THE EXPERTISE OF AN INDEPENDENT COMPENSATION CONSULTANT AND ALSO INDUSTRY COMPENSATION SURVEYS AND STUDIES TO ESTABLISH THE COMPENSATION WHICH IS THEN PRESENTED TO THE BOARD FOR FINAL APPROVAL.
FORM 990, PART VI, SECTION C, LINE 18	THE ORGANIZATION'S FORM 990 IS AVAILABLE UPON REQUEST.
FORM 990, PART VI, SECTION C, LINE 19	THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
FORM 990, PART IX, LINE 11G	OTHER FEES 4,283,679.
FORM 990, PART XI, LINE 9:	LEASE ADOPTION FOR ASC 842 -388,698.
FORM 990, PART XII, LINE 2C	THE OVERSIGHT PROCESS OF THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM PRIOR YEARS.
FORM 990, PART IV, LINE 12	THE ORGANIZATION RECEIVED AN AUDITED FINANCIAL STATEMENT FOR THE FISCAL YEAR ENDED JUNE 30, 2022. THE ORGANIZATION'S FORM 990 IS PREPARED FOR THE CALENDAR YEAR ENDING DECEMBER 31, 2022. THE RECONCILIATIONS OF REVENUE AND EXPENSES PER AUDITED FINANCIAL STATEMENTS WITH REVENUE AND EXPENSES PER RETURN WERE NOT COMPLETED DUE TO THE DIFFERENCE IN REPORTING YEARS.

Return Reference

Explanation

FORM 990, PART V, LINE 1C

THE ORGANIZATION DID HAVE INSTANCES WHERE BACKUP WITHHOLDING WAS REQUIRED IN THE AMOUNT OF $17.51, AND HAS BEEN REPORTED ACCORDING TO REPORTING REQUIREMENTS.

FORM 990, PART VI, SECTION A, LINE 6

A MEMBER IS ANYONE WHO LIVES, WORKS, WORSHIPS, REGULARLY CONDUCTS BUSINESS, OR ATTENDS SCHOOL IN BERKS COUNTY AND THE TRI-COUNTY REGION. A MEMBER IS REQUIRED TO PURCHASE AND MAINTAIN THE MINIMUM REQUIRED SHARE(S) (MEMBERSHIP SHARE $5.00).

FORM 990, PART VI, SECTION A, LINE 7A

ALL MEMBERS IN GOOD STANDING WHO ARE AT LEAST 16 YEARS OF AGE RECEIVE ONE VOTE.

FORM 990, PART VI, SECTION A, LINE 7B

DECISIONS REQUIRING APPROVAL OF MEMBERS, AS DESCRIBED IN PART VI, SECTION A, LINE 7A, ARE AS FOLLOWS: MEMBERS OF THE GOVERNING BODY CHARTER OR NAME CHANGE MERGER

FORM 990, PART VI, SECTION B, LINE 11B

THE ACCOUNTING MANAGER AND VICE PRESIDENT OF HUMAN RESOURCES REVIEW FORM 990 TO ENSURE INFORMATION PROVIDED HAS BEEN PROPERLY REPORTED. ADDITIONALLY, THE CFO REVIEWS FORM 990 TO ENSURE PROPER REPORTING.

FORM 990, PART VI, SECTION B, LINE 12C

DIAMOND CREDIT UNION ANNUALLY DISTRIBUTES, DISCUSSES, AND RECEIVES BACK SIGNED ACKNOWLEDGEMENTS OF BANK BRIBERY ACT POLICIES.

FORM 990, PART VI, SECTION B, LINE 15

THE PERSONNEL COMMITTEE, WHICH CONSISTS OF A SUB-SET OF BOARD MEMBERS, OBTAINS THE EXPERTISE OF AN INDEPENDENT COMPENSATION CONSULTANT AND ALSO INDUSTRY COMPENSATION SURVEYS AND STUDIES TO ESTABLISH THE COMPENSATION WHICH IS THEN PRESENTED TO THE BOARD FOR FINAL APPROVAL.

FORM 990, PART VI, SECTION C, LINE 18

THE ORGANIZATION'S FORM 990 IS AVAILABLE UPON REQUEST.

FORM 990, PART VI, SECTION C, LINE 19

THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.

FORM 990, PART IX, LINE 11G

OTHER FEES 4,283,679.

FORM 990, PART XI, LINE 9:

LEASE ADOPTION FOR ASC 842 -388,698.

FORM 990, PART XII, LINE 2C

THE OVERSIGHT PROCESS OF THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM PRIOR YEARS.

FORM 990, PART IV, LINE 12

THE ORGANIZATION RECEIVED AN AUDITED FINANCIAL STATEMENT FOR THE FISCAL YEAR ENDED JUNE 30, 2022. THE ORGANIZATION'S FORM 990 IS PREPARED FOR THE CALENDAR YEAR ENDING DECEMBER 31, 2022. THE RECONCILIATIONS OF REVENUE AND EXPENSES PER AUDITED FINANCIAL STATEMENTS WITH REVENUE AND EXPENSES PER RETURN WERE NOT COMPLETED DUE TO THE DIFFERENCE IN REPORTING YEARS.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990) 2022

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