Dixie Craft Employees Credit Union

“The credit union is a non-profit financial institution that is owned and operated by its members. In order to become a member of the credit union, an individual must be an employee of madix, inc.”

“Members of the credit union elect board members at the annual meeting. Members are informed by the nominating committee of the board positions which are up for election. Members then vote to fill the open board positions. In order for a board member to be elected, a quorum must be present at the meeting.”

“The credit union does not have committees with the responsibility to act on behalf of the governing body.”

“Upon completion of the credit union's form 990, the return is presented to the board at a board of directors meeting. At the meeting, the board members review the tax return and are free to ask any questions or engage in discussion regarding any topic covered in the return. Once the governing body has reviewed and approved the form 990, the return is filed with the internal revenue service.”

“The conflict of interest policy is reviewed by the board on an annual basis.”

“Compensation for top management officials is determined on a yearly basis. Before compensation is set, the board of directors examines the type and amount of work performed by the employees while taking into account the credit union's prior year income. The board uses national peer group salary surveys provided by cuna as an independent salary guide. The credit union manager abstains from all salary votes.”

“The credit union makes available its financial statements via the ncua website which can be found at www.ncua.gov. Other documents are available to the public upon request.”

“Merger with heritage south credit union on 12/1/2022 -159,420.”

“On a yearly basis, the national credit union association (or alabama credit union administration) examines the financial statements of the credit union. Additionally, the league of southeastern credit unions performs similar procedures and review of the credit union's financial statements annually.”