63 Tri-County Credit Union Inc

“The organization merged with cardinal credit union (34-0825291) effective 7/1/15. As a result of this merger, the governing documents have changed since the last form 990 was filed.”

“The credit union is comprised of 1,892 members, each of which has equal rights in ownership, governance and voting rights at the annual meeting.”

“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 plurality vote. The board of directors appoint volunteers to serve on the supervisory committee, which is responsible for monitoring safety and soundness of the credit union. If deemed appropriate, the supervisory committee can suspend board members and can call a special meeting of the membership to evaluate the issue and vote to either dismiss or reinstate the board member.”

“Changes to the governing documents (bylaws) must be approved by the member-owners after they have been approved by the board of directors and the regulatory agency. Approval occurs when a majority of the necesary quorum by the member-owners vote to approve.”

“Prior to being filed with the irs, a copy of the irs form 990 and related schedules are reviewed line by line by senior management.”

“The board members and officers annually complete a survey related to the loans, business relationships, and family members that could, or do, create a conflict of interest. If a conflict exists, then the conflicted board member is excluded from discussions and votes related to any potential or existing relationships involving the conflict of interest. If it is determined that a conflict of interest was intentionally hidden by a board member, the situation would be investigated by the supervisory committee and the board member could be suspended and subject to dismissal at a special meeting by a majority vote of all the member-owners.”

“The credit union's bylaws, conflict of interest policy, and financial statements can be viewed at the credit union office. The credit union's statements can be viewed on the web @asi.com”

“Change in other comprehensive income offset by increase in pension expense 277,322. Disposition of net assets due to merger with cardinal credit union -1,129,718.”