Vibrant Credit Union

“Vibrant credit union has members that have the right to elect the members of the governing body.”

“Vibrant credit union has members that have the right to elect the members of the governing body.”

“Rsm us llp, the accounting firm preparing the 990 tax return for vibrant credit union, will present the final form 990 to the board of directors and provide an overview of the information reported shortly after the filing of the 990.”

“Executives, managers, and employees must avoid any conflicts of interest between themselves and vibrant credit union. Specifically, no executive, manager, or employee shall make any investment, accept any position or benefits, participate in any transaction or business arrangement or otherwise act in a manner that creates or appears to create a conflict of interest with vibrant credit union unless such person makes full disclosure of all facts and circumstances to, and obtains the prior written approval of the vice president of human resources. Additionally, vibrant credit union requires all interested persons diclose annually any relationship that could give rise to a conflict.”

“In january the executive committee completes the president/ceo's annual review based on two sections: 1. Objective factors based on vibrant credit union's financial performance, and 2. Subjective factors based on how the executive committee feels the president/ceo has performed the duties and responsibilities of his position. This process results in a summary score that is applied to a salary range table that determines the year end bonus percentage and annual base pay increase of the president/ceo. The entire program was developed by bauschke and associates.”

“The organization's governing documents, conflict of interest policy, and financial statements are not made available to the public.”

“Atm expense 865,835. Miscellaneous expense 648,778. Cashback checking expense 260,426. Mortgage expense 254,230. Education expense 240,058. Data processing expense 214,990. Bill payer expense 189,520. Foreclosed real estate expense 122,362. Loan recording fee expense 104,866. Subscriptions & publications expense 95,588. Supervision expense 85,941. Vibrant error expense 62,204. League dues & other expenses 60,371. Consumer credit report expense 48,739. Real estate tax service 34,238. Free check expense 26,467. Savings write off expense 15,036. Provision for overdraft expense 12,961. Equipment rental & maintenance expense 10,650. Vehicles in liquidation expense 8,267. Financial planning expense 4,256. Chex system/screening expense 840. Cash over(short) expense 436. Property condition report 310. I-pay expenses -51. Check loss expense -339. Irs tax expense -86,566.”

“In 2015, vibrant credit union determined that it was more appropriate to include in column (b) (end of year) for lines 21 (escrow or custodial account liability) certain items included in prior year forms 990 in line 25 (other liabilities). Conforming adjustments have been made to the 2014 beginning of year amounts listed in column (a) of part x.”

“The organization's financial statements are audited on a separate basis by an independent accountant. However, for 2015 the organization's financial statements are reported on a short year basis from april 1, 2015 to december 31, 2015.”