Credit Unions Chartered in the State of Michigan 4 Front Credit Union

“The Credit Union has a single class of Members with equal rights of ownership, governance and voting.”

“Management reviews the tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting.”

“President/CEO performs annual evaluations of Executive VP and Vice Presidents on their employment anniversary date. In May of each year an evaluation form is mailed to each Board Member with a stamped envelope addressed to the Chairman of the Board. The President/CEO submits to the Salary Committee comparability wage data as found in the MI CU League survey book. The Personnel/Salary Committee holds a meeting in June to discuss the evaluation and wages for President/CEO and all Vice Presidents. The Personnel/Salary Committee submits their recommendations to the Board at the June Board meeting.”

“Personnel/Salary Committee reviews comparability wage data from MI CU league every June and discusses evaluations and proposed wages for chief executive and all vice presidents, then submits their recommendations to the Board at their June meeting.”

“Monthly financial statements are posted in all of the Credit Union lobbies. Other governing documents are available for review upon request at 3745 North US 31 South, Traverse City, MI.”

“Equity Acquired in Merger = $381971”

“The Credit Union's Financial Statements Audit will be performed by independent accountants for the twelve-months ended March 31, 2014.”

“2013 Form 990-T was first filed prior to public dissemination of IRS Letter TEGE-04-0314-0005 dated 24 March 2014. Our first Amended 990-T Return deleted $5,526 credit insurance (and related expenses) the letter stated was no longer subject to UBIT. Since no Form 990 had yet been e-filed, the first 2013 Form 990 corresponds to this first Amended Form 990-T.However we also sell a CUNA insurance product called "COBB insurance" not mentioned by that name in the IRS letter. Upon closer investigation we determined that this insurance is 100% credit insurance as confirmed by a CUNA rep who also said they no longer call it "COBB" but "CI" (Credit life and credit disability insurance).So this second Amended Form 990-T and corresponding Amended Form 990, deletes $13,419 of this CUNA CI insurance income (and related expense) as it is not subject to UBIT.”