Greater Minnesota Credit Union

“The credit union is comprised of a single class of community chartered member-owners, each of which has equal rights in ownership, governance and voting rights at the annual meetings.”

“Members of the credit union have the right to elect one or more members of the organization's governing body, whether periodically, as vacancies arise, or otherwise.”

“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.”

“The board of greater minnesota credit union is no longer in existence as the merger with spire credit union occurred on july 1, 2014.”

“The credit union has a code of conduct policy in place for directors, supervisory committee members, management and staff. This policy is designed to assure the affairs of the credit union are conducted in a manner that fosters the favorable image and reputation of the credit union, the elected officials and management; avoid potential conflicts of interest and personal gain; maintain and promote integrity in the administration and operation of all the affairs of the credit union. All directors, supervisory committee members, management and employees are required to disclose upon employment/nomination annually and as changes occur thereafter. Disclosures are made on the conflict of interest statement, which are all reviewed by internal audit. These disclosures are maintained within the human resources department.”

“The cu uses a compensation research firm (hrn management group) to provide comparable market rates of the region and of peers to help the cu determine salaries for their employees on an annual basis. The vp of hr receives these reports and information and integrates them into the cu's compensation and job evaluation process. The vp of hr authorizes all new hires and determines compensation in accordance with the credit union's compensation policy and guidelines. The vp of hr calculates merit increases in accordance with the compensation policy and guidelines, and the ceo has final approval.”

“The credit union merged with spire credit union on july 1, 2014 so the organization is no longer in existence.”

“The credit union discontinued operations and merged with spire credit union on july 1, 2014.”

“Credit union merged with spire credit union 07/01/14. All assets transferred to spire credit union. -14,768,865.”

“Greater minnesota credit union is no longer in existence as it was merged with spire credit union on july 1, 2014. The filing due date for their form 990 has always been on may 15th. They assumed the due date for their final form 990 was may 15, 2015. They were not aware that when they merged with spire credit union on july 1, 2014 that the form 990 was due on the 15th day of the fifth month after the merger. Upon becoming aware of the different due date, the credit union engaged their accounting firm to prepare the filing as soon as possible. The late filing was totally unintentional on the credit union's part. Their returns have always been filed timely in the past. The credit union respectfully request the abatement of any late filing penalties for the final year ended july 1, 2014.”