Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| Form 990, Part VI, Section A, Line 6 | Credit Union currently has 168 member share accounts. Each Member has one vote. |
| Form 990, Part VI, Section A, Line 7a | Credit Union members elect the Board of Directors at the annual meeting each year. Each year 2-3 Director positions are up for elections. The Board of Directors may consist of up to 7 directors. |
| Form 990, Part VI, Section B, Line 11b | Copy of the 990 Tax Return is emailed to each board member prior to the filing and is also reviewed at the next monthly board meeting. |
| Form 990, Part VI, Section B, Line 12c | Each Year the Board Members take an Oath of Office and any disclosures should be made at such time. |
| Form 990, Part VI, Section B, Line 15 | The Manager Position (currently vacant) compensation is reviewed and determined by the Board of Directors based upon the manager's experience, education and our market area compensation as well as their duties performed. The manager position is the only compensated position within the credit union. All other duties are performed by volunteers who are not paid for their volunteer work. We currently do not have an anticipated date to hire a manager, therefore, we do not have a time period in which we will be doing a market analysis of the manager's compensation structure. |
| Form 990, Part VI, Section C, Line 19 | Governing Documents, Oath of Office documents, Conflict of Interest policy, & IRS Form 990 are available for review at the Credit Union's Office during Credit Union office hours. The Credit Union's monthly Financial Statements are posted in the Credit Union lobby for public viewing after it is approved by the Board of Directors. |
| Form 990, Part IX, Line 11g | Loan Servicing Fees $3,760 |
| Form 990, Part XI, Line 9 | $ 10,672 Decrease in Member Share Balances from 2019 $ 389,341 and 2020 $ 378,669 |
| Software ID: | 20012124 |
| Software Version: | v1.00 |