Bellwether Community Credit Union

“Entity is a credit union with 26,300 members.”

“The members of BCCU elect members of the board of directors.”

“Entity-wide decision for mergers in which BCCU is the entity being acquired requires membership approval.”

“The Form 990 is presented to supervisory committee for review and approval. It is then provided to the full Board of Directors.”

“Each year every employee and board member is required to review BCCU's Conflict of Interest and Ethics Policy and document any potential conflicts. Our Conflict of Interest clearly identifies a conflict as occurring when an employee is in a position to influence a decision that may result in a personal gain for that employee/board member or a relative as a result of BCCU's business dealings. Covered persons are responsible for disclosing any potential or perceived conflicts of interest. In addition, all BCCU policies are reviewed and approved by the Board of Directors on an annual basis.”

“The compensation package for the President/CEO falls under the direction of BCCU's Personnel Committee, which is made up of individuals from the Board of Directors. Utilizing a combination of a partnership with a third party consultant, industry data, competitive compensation surveys, best practices, and assistance from the Credit Union's human resources executive, the Personnel Committee designs and recommends a compensation package that is competitive and fair. The compensation package for the President/CEO includes such things as a written employment contract, salary, benefits, and bonuses/incentives. Working with a third-party consultant, the Personnel Committee, reviews the compensation package as well as the performance of the President/CEO no less than annually and presents findings and recommendations to the Board for approval.”

“BCCU makes its documents available to the public by request with the exception of financial statements which are posted in each branch lobby.”

“Section 1.263(a)-3(n) Election: Bellwether Community Credit Union 425 Hooksett Road Manchester, NH 03104 EIN: 02-0196520 Bellwether Community Credit Union is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n).”

“The Credit Union adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost, and off-balance-sheet credit exposures. Results for reporting periods beginning after January 1, 2023 are presented under ASC 326, while prior period amounts continue to be reported in accordance with previously applicable U.S. GAAP. The Credit Union recorded a net decrease to undivided earnings of $54,843 as of January 1, 2023 for the cumulative effect of adopting ASC 326. The transition adjustment includes a $54,479 impact due to an increase in the allowance for credit losses (ACL) and a $364 impact due to an increase in the allowance for credit losses on off-balance sheet credit exposures.”