Sharon & Crescent Credit Union

“Board members james mihos and david goodman have a business relationship”

“The credit union's members have rights to elect the members of the governing body. The credit union's memeber also receive a share fo the organization's profits in the form of cash dividends.”

“Members of the credit union have the right to elect one or more members of the organization's governing body, whether periodically, or as vacancies arise, or otherwise.”

“Members of the credit union have the right to approve the governing body's election and removal of members of the governing body, as well as other matters that are subject to the approval of members of the credit union as they occur.”

“Form 990 is prepared by marcum, llp utilizing information provided by the cfo. The cfo and ceo review the completed form and a copy is provided to the board of directors prior to filing form 990 with the irs.”

“All new employees sign a form acknowledging they understand and will abide by the policies contained in the employee handbook, including ethics and conflicts policy. All employees are required to participate in an on-line ethics training program each year and pass a quiz.”

“The credit union utilizes survey data published by a third party source to establish salary ranges for all employees. The ceo approves compensation adjustments for branch managers and all other staff. The ceo recommends senior management compensation adjustments to the personnel committee, which is comprised of board members. The personnel committee recommends compensation adjustments for senior management along with compensation adjustments for the ceo.”

“Financial statements, conflict of interest policy and governing documents are available upon request for the same period of disclosure as set forth in section 6104(d).”

“Transfer of net assets to sharon & crescent united credit union at merger -67,246,772.”

“Some of the officers and directors have loans outstanding with the credit union. These loans were obtained in the normal course of business of the credit union with terms the same as available to all members. These loans are not required to be reported on schedule l, part ii. There are no reported transactions on schedule l.”