1337 the Way Credit Union Inc

“Form 990, Part VI, Section A, Line 6 - The Way Credit Union is comprised of a single class approximately 716 member owners. Each has equal rights in ownership and voting rights at the annual meeting.”

“Form 990, Part VI, Section A, Line 7a - The member owners have the authority to elect members to the Board of Directors for a three-year term on a rotation basis. Candidates are elected via a ballot process and by a majority vote. The Board of Directors appoint volunteers to serve on the Supervisory Audit Committee and other committees deemed necessary.”

“Form 990, Part VI, Section A, Line 7b - Amendments to the governing documents requires a majority vote of the voting members. The exception according to Section 1733.33 of the Ohio Revised Code allows the Board of Directors to adopt amendments to the field of membership articles of the regulations by an affirmative vote of two-thirds of the authorized directors.”

“Form 990, Part VI, Section B, Line 11b - Before filing the 990 with the IRS, a copy of the 990 and the related schedules are circulated to the Board of Directors.”

“Form 990, Part VI, Section B, Line 12c - Annually the Board and key employees are required to read the Conflict of Interest Policy and read aspects of the Bank Bribery Act. They also complete a survey disclosing any interest they may have that could give rise to conflicts. This survey is distributed to each Board member and key employees to read, answer, and sign. Should a conflict exist the conflicted Board member will be excluded from discussions and votes related to any potential or existing relationships involving the conflict of interest.”

“Form 990, Part VI, Section C, Line 19 - The Way Credit Union's Code of Regulations and the Conflict of Interest Policy are available to the public by appointment. Monthly financial statements are on display in the Credit Union Lobby.”

“The compensation reported for the Treasurer and Manager and other Credit Union's Staff (Part IX) are funds reimbursed to The Way Credit Union's sponsoring organization for salaries and compensations. The Way Credit Union does not generate W-2s.”