True Community Credit Union

“All account holders are referred to as members.”

“Credit union members elect the board members.”

“Members of the credit union have the right to approve the governing body's election and removal of members of the governing body, as well as other matters that are subject to the approval of members of the credit union as they occur.”

“Review will be performed by ceo and vp of finance.”

“Policies are reviewed annually and all volunteers complete conflict of interest forms after the annual meeting each year.”

“President/ceo - the board of director's performs an annual performance evaluation of the president/ceo. Based on the goals achieved and results of the review a merit is calculated. The results of the review and the proposed merit is reviewed by the executive committee. At the same time they also receive a salary study from a salary consultant (balanced comp) for presidents/ceo's in similar sized institutions. A variety of survey data is used by the consultant to prepare the recommended pay range and placement of the pay for the president/ceo. In addition, the committee reviews 990 data, and other industry resources for information to determine if any additional adjustment is required to ensure the president/ceo is being paid appropriately. Once the executive committee determines a final merit/pay adjustment then the board of directors is presented with the information and a formal vote is obtained to provide the proposed merit/adjustment for president/ceo pay. Vp of finance - pay grades for the position are also recommended by balanced comp, a salary consultant. They use various professional survey data to determine appropriate minimum, midpoint and maximum pay rates. An annual performance review is performed each year, by the president/ceo, and the merit increase is determined using a matrix recommended through balanced comp that considers longevity, performance and position within the pay grade. The overall merit budget is approved by the board of directors in the budget approval process. No merit is given until board approval is official.”

“The credit union's governing documents and conflict of interest policy are not made available to the public. Financial statements are available to the public via the quarterly call report on ncua.gov.”

“Miscellaneous 417,573. Fraud 389,341. Pll 204,286. Collection expense 92,862. Non-operating (gains)/losses -1,413,014.”

“Net change in unrealized losses on postretirement benefit plan 2,561,978. Equity acquired in merger 3,090,458.”

“The financial statements are audited on a fiscal year end and tax reporting is required on a calendar year end.”

“We have a committee that assumes responsibility for the oversight of the audit of its financial statements and the selection of an independent accountant. This process has not changed.”