Great River Community Credit Union

“The credit union reduced its number of board members from eleven to nine.”

“The organization is a member-owned credit union. The members have an annual meeting and the board of directors is elected by the membership.”

“The organization is a member-owned credit union. The members have an annual meeting and the board of directors is elected by the membership.”

“President/treasurer makes the annual return available to all board members to review prior to filing each year. The board is aware of all filing requirements and are active in the reviewing process.”

“Periodic review of related party accounts is performed by supervisory personnel.”

“The compensation committee utilizes industry-specific salary surveys, reviews performance, and makes recommendation to the board of directors.”

“The members can request to see the documents from the president of the organization.”

“Line 7b the credit union disposed of an asset during the year. The loss resulted from the portion of the cost basis that had not been depreciated at the time of disposal.”

“The members of the credit union's board donate their time to serve on the board. The board members attend monthly meetings and perform procedures to check different aspects of the credit union's daily activities; ie inspect loan files, check bank reconciliations, etc.”

“Line 4a total loans in this section are 7,154,137, which represents the gross amount. Loans net of the allowance for loan losses of 50,700 total 7,103,437.”

“Dividends 22,685 0 0 stmt/micro-film exp 21,435 0 0 other nonoperating expens 17,500 0 0 insurance/bond 17,133 0 0 office expense 12,975 0 0 bank service charge 10,706 0 0 association dues 9,978 0 0 dfi regulatory fees 9,844 0 0 real estate taxes 9,300 0 0 communications-phone 7,057 0 0 ach d/d clearing exp 6,830 0 0 certificate dividends 6,263 0 0 collection expense 6,212 0 0 credit reporting expense 6,068 0 0 other prof serv 5,387 0 0 ira dividend expense 4,672 0 0 advertising & promotion 4,597 0 0 misc. Operating exp 3,508 0 0 scip clearing exp 2,281 0 0 maint of furn & fixtures 2,005 0 0 communications-mail 1,967 0 0 cash over / short 1,284 0 0 credit union days expense 1,188 0 0 ira expense 820 0 0 ready cash dividends 294 0 0 annual meeting 107 0 0 div - christmas sav sh 99 0 0 div. Vacation club shares 8 0 0”

“Line 2b the credit union received an independent audit, but it was as of a fiscal year-end that did not match its tax year-end.”