Pennsylvania Credit Union

“Any credit union that is headquartered within pennsylvania; and is organized in accordance with pennsylvania or federal law, shall be eligible to become a member of the association. Any credit union that is headquartered outside of pennsylvania and/or is organized under the law of any state other than pennsylvania shall be eligible to become a member of the association or an associate member. Such associate members would be entitled to representation by its authorized representative with privileges to participate in discussion. Associate members shall have no power to vote.”

“The association has three levels of members who nominate and vote for members of the board: 1) credit unions with assets of 50,000,000 and under nominate and vote for three members of the board. 2) credit unions with assets between 50,000,000 and 250,000,000 nominate and vote for three members of the board. 3) credit unions with assets of more than 250,000,000 nominate and vote for three members of the board.”

“Decisions made by the board of directors may be ratified by the membership upon discussion and a vote at the association's annual business meeting.”

“The 990 is prepared by the auditing firm with the information provided by internal management staff. The draft 990 is reviewed by the president and the controller. Any changes or clarification are reported to the auditors. A copy is made available upon request.”

“The organization requires the members of the board of directors, the president, the controller/vp finance and the corporate secretary to read the code of ethics annually. Each must then attest by signature to the fact that it has been read, disclose any conflicts of interest or state that no conflicts exist. Under the terms of the code of ethics: a director is required to make a prompt and full disclosure of any material personal interest, either direct or indirect, he or she may have in a transaction to which the organization is a party, including but not limited to the director's relationship with any person or entity with which the organization is doing business. A director shall not vote on or participate in discussions or deliberations on matters when a conflict is deemed to exist other than to present factual information or to respond to questions presented. A director shall assure that the minutes properly record his or her abstention on any votes on matters for which a conflict may exist.”

“The board directors sets and approves the compensation for the top official. Compensation software, surveys and independent compensation consultants are used as resources. The directors vote in a closed session, the results are recorded in the minutes which are posted to the secure directors' website. There is a formal written contract for this position.”

“UPON REQUEST”

“Equity loss from subsidiary -337,388”