Lowell Firefighters Credit Union

“The credit union is owned by its members.”

“Credit union members elect their volunteer board of directors who are also members of the credit union. One member, one vote.”

“Any major changes to the credit union by-laws must be approved by the membership”

“The credit union's outside cpa/accounting firm prepares the 990. The president/ceo reviews the form for accuracy. The 990 is available for the board and supervisory committee to review. The outside cpa/auditor makes any necessary corrections before electronically filing the report on the credit union's behalf.”

“Professional credit union compensation surveys are obtained and provided to the board. The board uses this information in conjunction with a review of the performance of the ceo to determine an appropriate compensation amount. The board votes on the ceo's compensation.”

“The credit union's bylaws are available upon request. Financial statements are posted in the cu main lobby and are available upon request. They can also be viewed on ncua's website.”

“Real estate taxes: program service expenses 16,800. Management and general expenses 0. Fundraising expenses 0. Total expenses 16,800. Equipment rental: program service expenses 12,725. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,725. Donations: program service expenses 7,990. Management and general expenses 0. Fundraising expenses 0. Total expenses 7,990. Postage: program service expenses 6,738. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,738. Dues & subscriptions: program service expenses 6,126. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,126. Fraud & plastic losses: program service expenses 6,122. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,122. Utilities: program service expenses 6,078. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,078. Maintenance of furn & eqip: program service expenses 5,535. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,535. Telepone: program service expenses 5,192. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,192. Supplies: program service expenses 3,382. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,382. Alarm: program service expenses 1,680. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,680. Web page expense: program service expenses 1,334. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,334.”