Mutual Security Credit Union Inc

“The cfo will review form 990 prior to its filing. Once filed it will be presented to the board of directors at a subsequent monthly meeting.”

“The bylaws that were in place were over 50 years old. Management took the time to update and modernize the bylaws to remain in compliance with current banking laws and regulations.”

“The credit union's members have rights to elect the members of the governing body. The credit union's members also receive a share of 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.”

“The chairman, and vice-chairman or treasurer of the board of directors will review form 990 prior to its filing.”

“The credit union policy has guidelines for various transactions to ensure that our business activities are performed in compliance with the sate of ct statutes. Segregation of duties is managed to ensure that system transactions are in compliance with the policy. Outside of our core system, other authorizations to perform high level functions are assigned under dual approval within policy limits. Board approval is received when necessary for those transactions as stated in the policy.”

“Salary and job description data is obtained from a consultant group hr performance solutions' software compease, whose data includes salary ranges. Ceo salary is approved by the board of directors.”

“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).”

“Equity acquired in merger 97,994.”

“The organization's financial statements are audited on a separate basis by an independent accountant. However, the financial statements are audited on a fiscal year-end basis of march 31st, while the organization's tax year-end is december 31st.”