Ecolab Credit Union

“The organization has members. To be a member, one must have a share (savings) account at the credit union.”

“The board of directors is elected by the credit union members. Each member has one vote.”

“A member vote is required for decisions which are beyond the authority of the board of directors. Items which require a membership vote are outlined and specified in our bylaws. Each member has one vote.”

“Management provideds data to independent preparer who completes the return. The 990 is reviewed by management and the supervisory committee for accuracy, and the preparer is then authorized to e-file the approved return. The board is notified of the filing at the next regularly scheduled board meeting.”

“The ceo's annual salary is based on a combination of comparison to comparable size credit unions per cuna's annual compensation survey and attainment of predefined performance objectives. The process is performed by a subcommittee of the board and presented to the full board for approval. This process is completed prior to april 1st each year and the salary was approved at the march 2016 board meeting.”

“The credit union's by-laws, conflict of interest policy, and financial statements are available to the members upon request and can be viewed by appointment at the main office.”

“Part i line 5 shows 0 employees in order to match part v line 2a as required by the 990. Part v line 2a shows 0 employees because the credit union uses leased employees and does not file a w-3. During 2016 leased employees included 3 full time and 2 part time persons.”

“Ecolab credit union merged into spire credit union after the close of businesss september 30, 2016. Governmnet agency approval documents are attached to this return in pdf file.”

“Net assets transferred in merger -1,062,213 total -1,062,213 ecolab credit union merged into spire credit union after the close of business on september 30, 2016.”