Trumark Financial Credit Union

“Trumark financial credit union is a not-for-profit financial cooperative owned by its members in accordance with the provisions of title 17, credit union code under the guidelines of the commonwealth of pennsylvania, department of banking. For the purpose promoting thrift among its members, creating a source of credit at reasonable rates of interest and providing an opportunity for its members to use and control their own money on a democratic basis in order to improve their economic and social conditions. The credit union serves approximately 146,000 members within its field of membership as defined by the credit union's charter and bylaws.”

“The credit union's governing body is comprised of twelve members who are elected by the general membership to terms of three years.”

“Any major charter related decisions (mergers, conversions, etc) would require approval from the general membership.”

“The credit union's cfo works with a cpa firm to complete the form 990. The credit union's cfo reviews the form 990 for accuracy. Also, the organization's board of directors is provided the form 990 in advance of filing.”

“The code of ethics/conflicts of interest policy is reviewed annually by human resources, senior management and legal counsel. Appropriate changes/updates are made as needed. The policy is presented to the board of directors for their review and approval annually and a copy is given to all managers/supervisors for review with the employees at their monthly department/branch meeting. The employee handbook is posted on the credit union's intranet. Also, employees are required to sign an annual "employee acknowledgement form" acknowledging they have on-line access to this handbook and understand their responsibility to read and comply with the policies contained in the handbook and any revisions made to it.”

“The credit union engaged d hilton associates, inc who provides the board of directors with an annual executive compensation update that allows the board to monitor compensation trends in the credit union industry and to ensure that the current ceo compensation program remains faithful to the organization's stated executive compensation philosophy. This annual review ensures that its ceo's salary, target incentive pay, and benefits remain in an appropriate relationship to the market. In addition, the ceo's supplemental retirement account is reviewed with the board to evaluate investment performance and to consider any program adjustments that need to be made to ensure the program remains on track. An executive employment agreement for the ceo is reviewed by the board of directors annually, any recommended changes are reviewed and implemented with legal counsel. The credit union engages d. Hilton associates, inc to conduct salary administration update of all staff positions every three years and provides ongoing support by the market pricing results to compare the competitiveness of the credit union's salary structure and average salaries to the market. D hilton annually provides recommended salary range structure changes, a merit increase matrix and market prices new positions.”

“The credit union posts monthly internal financial statements in each location for review by the public. In addition, an annual report with audited financial statements is prepared and distributed at the credit union's annual meeting in march.”

“Trumark financial credit union is a not-for-profit financial cooperative owned by its members in accordance with the provisions of title 17, credit union code under the guidelines of the commonwealth of pennsylvania, department of banking for the purpose of promoting thrift among its members, creating a source of credit at reasonable rates of interest and providing an opportunity for its members to use and control their own money on a democratic basis in order to improve their economic and social conditions.”

“Trumark financial credit union is a not-for-profit financial cooperative owned by its members in accordance with the provisions of title 17, credit union code under the guidelines of the commonwealth of pennsylvania, department of banking for the purpose of promoting thrift among its members, creating a source of credit at reasonable rates of interest and providing an opportunity for its members to use and control their own money on a democratic basis in order to improve their economic and social conditions.”

“The organization did not have any instances where backup withholding was required, however if the situation would arise, the organization is aware of the reporting requirements and would handle that accordingly.”

“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.”

“Amortization of unrealized gain from transfer of afs to htm -152. Net investment losses on afs stock redemptions 56,370.”

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