Ohio'S First Class Credit Union Fka Cleveland Postal Employees Cu

“The credit union is comprised of a single class of member-owners, each of which has equal rights in ownership, governance and voting rights at the annual meetings, with the exception of the member-owners who are elected to the board of directors.”

“The member-owners of the credit union have the authority to elect the members of the board of directors for three-year terms on a rotating basis. Candidates are elected by a simple plurality vote.”

“Prior to being filed with the irs, a copy of the irs form 990 and related schedules are reviewed by the ceo, including a confirmation of the accuracy of every answer and oversight of appropriate changes. Upon completion of the ceo's review, the forms are reviewed at a board meeting post submittal to the irs.”

“The credit union has developed a code of ethics, which addresses it's conflict of interest policy. Annually, each employee is required to sign the document acknowledging that he/she has read and understands the code of ethics and to report any activity that would give rise to conflicts.”

“Financial statements are available upon request.”

“Statement processing 58,988 0 0 sharedraft exp 55,295 0 0 shared branching 46,342 0 0 bank service charge 41,652 0 0 security 39,888 0 0 telephone 22,657 0 0 association dues 18,216 0 0 janitorial 15,814 0 0 statements, forms, notice 14,319 0 0 overdraft advance 9,284 0 0 miscellaneous 8,888 0 0 supervisory exam fee 7,626 0 0 shredding 2,857 0 0 subscriptions 2,339 0 0 storage 1,597 0 0 cash over/short 831 0 0 fed taxes expense 651 0 0 total 347,244 0 0”

“Increase in member's account balances 926,687”

“Prior year returns were inadvertently marked as cash basis, but the company has consistently used the accrual basis, and prior year returns have reflected this basis of accounting.”