Aurora Credit Union

“The organization consists of members. To be a member, one must have a share/savings account. Each member has one vote to elect the governing body (Board of Directors).”

“The Board of Directors is elected by the membership utilizing their one vote per member”

“Each member has one vote to utilize in ratifying significant decisions beyond the authority of the Board as outlined in the organizations bylaws. Any decision to dissolve or merge the organization requires approval of membership, unless mandated by regulatory agency (i.e., NCUA, Wisconsin Office of Credit Unions).”

“The Credit Union President completes the Form 990 and attests to its accuracy. The Form 990 preparation worksheet is simultaneously submitted to Aurora Credit Unions Asset Liability Management Committee (ALCO) and the WI Credit Union League for review and filing. The President submits a copy of the Leagues draft to Aurora Credit Unions full Board of Directors for review. The Credit Union President reviews the Leagues drafts for accuracy and simultaneously submits any proposed changes and/or clarifications to the League and the Board of Directors. After the Credit Unions President receives confirmation that the 990 form has been approved/accepted by the IRS, the filed 990 is distributed with the monthly Board reports and recorded in the permanent Credit Union Board minutes.”

“The CU maintains a copy of this policy that is described in detail in the Code of Conduct Policy for its credit union officials,including any modifications thereof;Aurora CU requires an initial acknowledgement of this code of conduct and requires a written acknowledgement of any subsequent material changes and the officials agreement to comply therewith;it retains written reports of any disclosures made by credit union officials in connection with this code of conduct.The CU specifically requires a written acknowledgement signed by the BOD and its President.The BOD reviews this policy as part of its regular policy review.The written acknowledgements of all credit union officials is made available in conj with the policy manual for regulatory examinations and independent external audit.”

“The Board of Directors approves the Credit Unions CEO/Presidents salary using comparability data from the CUNA Salary Report, the Wisconsin Credit Union League and the Credit Union Executive Societys Compensation Survey. For the CUNA Salary Report, assets are the most important determinant for management salaries, adjusted for geographical locations. Any bonus is determined after the fact based on Aurora Credit Unions financial performance and the individual accomplishment of preset performance criteria/goals.”

“At The Annual Meeting, the prior years financial statements are distributed to the members and the Chairman of the Board of Directors or the Treasurer presents the Treasurers Report. The President also elaborates on the Credit Unions financial statements. The Chairman notes that the Credit Unions prior years independent audit report performed by an external CPA firm is available for viewing upon request at the Credit Union - members should speak to the President to establish an appointment. The 990 form is also available for viewing upon request - requests are directed to the President, Mary Gold. A copy of the Conflict of Interest Policy may also be viewed by members upon request.”

“EXEMPT PURPOSE / MISSION STATEMENT - Aurora Credit Union is a cooperative, non-profit corporation incorporated under Wisconsin State Law to encourage thrift among its members, create a source of credit at a fair and reasonable cost, and provide an opportunity for its members to improve their economic and social conditions through low cost financial services and education.”