Western Payments Alliance

“The organization's membership includes depository financial institutions (banks, savings and loan associations and credit unions), individuals or organizations that are stakeholders in payment systems and processes, advisors to the organization and payment cooperatives.”

“"reserved directors" are selected by regular members meeting certain criteria. Also, each regular member not represented by a "reserved director" is entitled to nominate candidates to serve as at-large directors.”

“Form 990 is prepared by an independent cpa firm in conjunction with the association's accounting manager. A draft of form 990 is reviewed by the accounting manager, and any corrections or modifications are made by the outside cpa. The revised draft is then reviewed by the accounting manager and the president/ceo, any concerns raised by the president/ceo are raised with the cpa firm and a consensus is achieved. The full board of directors reviews the final audited financial statements each may and approves the association's financials and the filing of federal and state tax returns. Upon completion of federal and state tax returns by the independent cpa firm, the board is notified of the completion and are given the opportunity to review the returns prior to filing. Any issues are resolved upon identification. The return is then finalized and electronically filed with the taxing authorities.”

“The conflict of interest policy and disclosure form are distributed to directors, advisors and staff each september. Each individual is required to complete the disclosure form and return it to the ceo. The ceo reviews each completed form for possible conflicts of interest. There have been no significant conflicts requiring actions. All forms are maintained for 7 years following the completion date.”

“An outside human resources consultant produces an analysis of comparable salaries in the industry at the time of hire and updates it periodically.”

“AVAILABLE UPON REQUEST.”

“Effective january 1, 2017 audit and risk management services were transferred from wespay to wespay advisors. These services include ach audit, ach risk review service, rdc risk management review, and ach and rdc policy and procedures review.”

“There was no change in the audit committee's oversight process.”