Educational Community Credit Union

“The Educational Community Credit Union has 7972 members having a deposit of $25 (1 share) or greater in their account(s) (1 share represents equal ownership interest) at year end. The average member saving balance is $6,660.72.”

“All members have the opportunity through mail balloting to participate in the annual election of officers. Officers elected will serve on the nine (9) member governing body of the credit union. The election deadline is in early March prior to the Annual Membership Meeting. Each elected board member is announced at the Annual Membership Meeting and serves a three (3) year term. Terms are staggered so that three (3) positions expire each year, thereby, providing a consistent input of member needs, continuity of actions taken, and the resultant is effective growth and leadership.”

“Since this credit union is a state regulated and federally insured financial institution the 990 form is completed by the President (per duties & responsibilities approved by the board)in the same manner as other government tax payments and reporting is done on a monthly, quarterly, and annual basis. Tax reporting includes Federal Forms 941, W2, W3, 940 (FUTA), and State Withholding Tax Unemployment Tax(SUTA), and Missouri Franchise Tax. Additionally I complete the Federal NCUA 5300 Call Report on a quarterly basis, and that is where most of the information for 990 reporting is derived from in regard to competing this 990 form. After submission of the 990 form, I copy the Board Chairperson. He keeps a copy on file and I makes available the complete 990 form for membership review in our main lobby information center.”

“Annually all employee must read and sign an acknowledgement that they will comply with our current personnel policies. Management and supervisors monitor staff on daily basis for compliance. Board reviews policies annually for improvement, corrections, and updating.”

“Also available in lobby waiting area or via mail fi the member so request a copy.”

“The credit union makes its governing documents, Conflict of Interest Policy, and financial statements available to the membership and to the public upon written request to management, and by providing information at the Annual Membership Meeting in the annual reports data packet. The packet is also on file in our lobby for members to pick up. The Annual Audit Report from our CPAs covers a 12 month period ending 12/31/16 and is available upon request.”

“This change of $808,073 is represents as follows: Increase in Member Savings of $1,890,496. Decrease in IRA Savings & CD of $232,366. Decrease in Member CD of $1,175,600. Increase in MMA of $15,611. Increase in Share Draft Accounts of $309,932”