Utilities Employees Credit Union

“The credit union utilizes alpine cyber solutions, llc to oversee strategy and operations related to the protection of information assets of the credit union. They are also responsible for updating and implementing appropriate policies and procedures and the security of applications and infrastructure. The credit union has an investment advisory agreement with elite capital management group, llc which provides them with discretionary approval to manage and invest funds for the utilities employees credit union's employee benefit pre-funding investment account. As of december 31, 2024, the value of investments managed by elite capital management group, llc was approximately $23,000,000.”

“Uecu is a not-for-profit cooperative financial institution, owned by its members, operated for the purpose of promoting thrift, providing credit at reasonable rates, and providing other financial services to its members”

“The members own the organization and elect all members of the governing body”

“There is no specific class for any member. Each member has equal voting rights when making decisions. Decisions that require approval include amendment of bylaws and election of officials (board of directors).”

“Form 990 is prepared by an independent public accountant. The form 990 was reviewed by the controller, cfo, and ceo. In addition, the executive committee of the board of directors reviews the form prior to filing.”

“Business ethics and anti-fraud policy provided and reviewed with new employees and volunteers (board of directors and supervisory committee). On an annual basis, each employee and volunteer must file a statement acknowledging receipt of the most recent policy and compliance with the policy. The affimation is maintained by the credit union's in-house legal counsel. The president/ceo has authority to resolve questions dealing with conflicts of interest. Suspected conflicts may also be reported to the credit union's supervisory committee.”

“The executive committee of the board of directors annually reviews and approves the ceo's salary and incentive compensation program/payment. The committee also provides oversight to the ceo in evaluating the market and establishing compensation packages for the executive management team. The committee employs the services of an independent compensation consultant in fulfilling its responsibilities. The consultant provides an annual executive compensation update that allows the committee to monitor trends in the credit union industry to ensure the ceo and executive team compensation remain in an appropriate relationship to the market, in accordance with the credit union's compensation philosophy.”

“The credit union's annual report is published on the organization's website. Copies of the audited financial statements are also made available to members, upon request. Additionally, the quarterly call report is available for public viewing on ncua.gov. The credit union's governing documents and conflict of interest policy are available upon request.”

“Net change in post-retirement healthcare plan 7,772.”

“There were no changes in the process of the committee that assumes responsibility of the oversight of the audit and selection of the independent auditor.”