Alliant Credit Union

“There is only one class of membership within the credit union. Organization and trust accounts are allowed with ownership specifically tied back to the individual. The only organization accounts allowed within the bylaws of alliant are not for profit entities and/or associations. For purposes of voting, each full share ($5) is afforded one vote with respect to regular shares. Therefore, individual accounts can have multiple votes based upon the value of the account relative to individual full $5 increments. For trust and organizational accounts, each account is afforded one vote no matter the dollar amount of the account.”

“There is only one class of membership within the credit union. Organization and trust accounts are allowed with ownership specifically tied back to the individual. The only organization accounts allowed within the bylaws of alliant are not for profit entities and/or associations. For purposes of voting, each full share ($5) is afforded one vote with respect to regular shares. Therefore, individual accounts can have multiple votes based upon the value of the account relative to individual full $5 increments. For trust and organizational accounts, each account is afforded one vote no matter the dollar amount of the account.”

“The form 990 is reviewed by the manager of financial reporting. A final review of the form 990 is completed and signed off by the vice president of accounting. Once the return is completed and filed, management communicates to the board of directors that we have met the filing requirements of the form 990 with the irs but a copy is not provided. The form 990 is also reviewed by an independent accounting firm.”

“Alliant credit union regularly monitors and enforces the compliance of our conflict of interest policy through periodic audits and enforcement of vendor management policies. All alliant employees and board members are subject to this policy. The conflict of interest review process is completed by alliant's general council and chief ethics officer. If a conflict of interest would occur, the individual would recuse themselves from the matter. If a board member has a conflict of interest, the individual would announce to the board members during the board meeting that they are recusing themselves from the matter at hand.”

“Compensation of all positions within the credit union are benchmarked against the external market using an outside service. Additionally and where available, survey data with comparable positions in comparable markets is used for comparison and benchmarking. Compensaton strategy for positions other than officer level positions are reviewed by the functional senior vice president and vice presidents. For officer level positions, the compensation is reviewed and confirmed by the ceo. The ceo's compensation is validated and recommended for approval through the chairperson of bod and the board's talent and compensation committee. The last review was completed in december 2019.”

“The governing documents and conflict of interest policy are not made readily available to the general public. If those documents were specifically requested, a copy would be provided to the member. The financial information is available in a number of ways. An annual report of unaudited information is available on the credit unions website. In addition, specific financial information is required per regulatory authority to be filed quarterly with the national credit union association and the illinois department of financial and professional regulation. This information is available to the general public through a third party site. In addition, an annual report is provided to a member upon specific request.”

“Alliant credit union does have an audit performed at the june 30 fiscal year end financial statements.”