1378 Community United Credit Union Inc

“The credit union is comprised of a single class of approximately 2375 member owners. Each of which has equal rights in ownership. Voting rights at the annual meetings with the exceptions of the member owners who are elected to the board of directors.”

“The member owners of the credit union have the authority to elect members of the board of directors for a three year term on a rotating basis. Canidates are elected by a simple plurailty vote. The board of directors appoint volunteers to serve on the supervisory committee. Which is vested with monitoring safety and soundness of the organization 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.”

“Change to the governing documents (bylaws) must be approved by the memeber owners after they have been approved by the board of directors and the regulatory agency. Approval occirs when at least 1 of 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 by the presidentceo. Including a confirmation of accuracy of every answer and oversight of appropriate changes. Upon completion of the president's review the forms are reviewed and voted on at a board meeting prior to submittal to the irs.”

“Cucu's board adopted their board governance policy on april 13 2009. The policy includes a section entitled director qualifications the nominating committee reviews any and all applications for the board and will follow the director qualification section which assists the nominating committee in detecting conficts of interest. Conflicts of interest are determined by a review of the potential conflicts by the ceo and the board of directors. If a conflict exists or arises with a current board member the the conflicted board member or officer is excluded from discussions and votes related to any potential or existing relation involving the conflict of interest. If it is determined that a conflict of interest is intentionally hidden by a board member then the situation would be investigated by the supervisory committee and the board member could be suspended and subject to a special meeting of all of the member owners. Additionally the remaining board members and officers will review for fairness all past transactions involving the conflict of interest. If a transaction appears to lack arms-length either to the detriment of the credit union or to the infair advantage of the board member then all legal remedies will be considered.”

“The process ised to set the ceo's annual salary is based on a combination of comparison to comparable sized credit unions through the use of cuna's annual compensation survey the ohio credit union league's small credit union salary report and attainment in the current year of predefined performance objectives set for the ceo personally and the credit union.”

“The credit union bylaws conflict of interest policy and financial statements are available to the public and can reviewed by appointment at the credit union's office.”