Illinois Valley Credit Union

“The Organization's membership consists of individuals with funds on deposit with the credit union.”

“The membership participates in the annual election of the Board of Directors at the annual membership meeting.”

“Member approval is required for a merger with another credit union.”

“The Form 990 was shared with the Board of Directors via email prior to filing. It was further reviewed at the monthly meeting of the Board of Directors.”

“Potential conflicts are discussed at monthly Board of Director meetings.”

“Financial statements are posted monthly in both offices and additional items are available to members and others upon request.”

“The Credit Union did not issue any 2016-W-2 to its employees, rather they used Insperity HR Services for payroll and benefits. Insperity issued 2016-W-2 and filed all payroll tax returns. There were 15 individuals that worked for the Credit Union in 2016.”

“The Credit Union's statement of financial condition and the related statements of income, members' equity, and cash flows were audited for the year ended September 30, 2016 in accordance with audit standards generally accepted in the United States. The FIN 48 Note in the 9/30/16 audited financial statements is as follows: Illinois Valley Credit Union was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code Section 501(c)(14). The taxexempt purpose of the Credit Union and the nature in which it operates is described in the first paragraph of Note 1. Management believes the Credit Union continues to operate in compliance with its tax-exempt purpose. The Credit Union had no unrelated business income that management believes is subject to taxation. The Credit Union's 2013, 2014 and 2015 annual information returns filed with the Internal Revenue Service are open to examination.”