Minnesota Power Employees Credit Union

“The board of directors approved a leave of absence for debora almirall (president/ceo) from january 4, 2024 through april 30, 2024. The board of directors appointed jason olsen to assume debora's role during her absence and he was paid an additional $400 per pay period during that time period.”

“Minnesota power employees credit union has members as specified in its bylaws.”

“Directors are elected by the members of mpecu at the annual meeting. Directors are elected to three year terms.”

“Meeting minutes are recorded after each meeting by the assigned board secretary or their designee. Meeting minutes are reviewed by the board and approved at the beginning of the next scheduled board meeting. There are no committees with the authority to act on behalf of the board.”

“Prior to being filed with the irs, form 990 and required schedules are reviewed by the vp of finance and supervisory committee. The board of directors will review form 990 at their regular scheduled meeting following the filing with the irs.”

“Employees, directors, and officers are required to complete annual related party and/or code of conduct/conflict of interest disclosures. Each item concerning a conflict of the policy for a volunteer official shall be reviewed by the president, chairperson of the board, the supervisory committee, and relayed to the internal auditor. An opportunity will be given to the volunteer official to explain and resolve the matter. If the issue cannot be resolved, the president shall forward a written report to the board of directors, supervisory committee, and the internal auditor. If the item involves the president, the conflict shall be reviewed by the entire board of directors. Suspected fraud shall be brought to the attention of the internal auditor. Once investigated, the internal auditor will notify the president and supervisory committee. Information recieved will be treated confidentially except to the extent necessary for the purpose of mpecu's interest. A director or committee member who violates any of the responsibilities and codes may be removed from the board or committee, depending upon the other board and committee member's assessment of the offense and the circumstances involved. The disciplinary action may be in addition to any penalty prescribed by law for the violation.”

“Part vi, section b, line 15: mpecu used cuna to provide up-to-date market data on compensation levels of officers and key employees. The board of directors evaluates and establishes salary levels per this market data. The process described here was last completed in 2024.”

“Financial statements are posted monthly in office and on mpecu's website. Articles of incorporation are posted in the lobby. Bylaws are available for inspection as requested by membership. Conflict of interest policy is not provided to the public.”

“Mike french - 722 old howard mill rd, duluth, mn 55804. Marcia podratz - 3900 london rd #314, duluth, mn 55804. Jeremy caine - 5060 washburn rd, duluth, mn 55804. Kent oliver - po box 1862, titusville, fl 32781. Nathan schmidt - 3806 gladstone st, duluth, mn 55804. Thomas meyer - 1717 n. Arlington ave., duluth, mn 55811. Steve sharkey - 166 n cloquet rd e, esko, mn 55733.”