General Drivers Credit Union

“Form 990, part vi, section a, line 6: credit union membership consists of natural persons and entitiies as approved from time to time by, and recorded at the office of, the superintednent of credit unions. Membership consists of those persons in the common bond who have subscribed to one ownership share and have complied with the other requirements as specified by the articles of incorporation and bylaws.”

“Form 990, part vi, section a, line 7a: at each annual meeting, members have one vote. At each annual meeting, one member shall be elected to fill each board of director position vacated by reason of an expiring term or other cause.”

“Form 990, part vi, section a, line 7b: the majority of members present at any meeting may vote to modify, amend or reverse any act of the board of directors or instruct the board to take action not inconsistent with the articles, bylaws, or the iowa code. In order to be binding upon the board of directors, any action requires an affirmative vote of a majority of eligible members.”

“Form 990, paprt vi, section a, line 10: the form 990 is reviewed by each organization before filing.”

“Form 990, part vi, section a, line 10: the form 990 is reviewed by each organization before filing.”

“Form 990, part vi, section b, line 12c: the organization requires officers and directors to disclose annually interests that could give rise to conflicts. To identify any potential conflicts of interest, every insider provides an annual statement outlining specific relations and situations. The conflict of interest policy is annually reviewed by the board and is enforced by the board.”

“Form 990, part vi, section b, line 15: a compensation committee has overall responsibility for approving and evaluating the president/ceo compensatin, benefit and prerequisite plans, policies and programs of the credit union. The compensation committee is also responsible for producing an annual report on executive compensation for review by the entire board. An independent third party reviews compensation based on data compiled from numerous sources. Software is used that compares relative compensation data.”

“Form 990, part vi, section c, line 19: the organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request. Financial statements are also posted in the main branch of the credit union.”

“To adjust payables to previous years actual”