Self-Help Credit Union

“The Form 990 is prepared by staff accountants. The Chief Financial Officer, the Controller, and in-house counsel review multiple drafts and verify all answers before the form is provided to the Chief Exectutive Officer and board of directors for furthur review and comment prior submission.”

“The organization is a member-owned credit union. Members elect directors on a staggered annual basis at the annual meeting. Certain decisions, such as amendments to bylaws, are subject to approval by the North Carolina Credit Union Division and/or the National Credit Union Administration.”

“The organizations Conflict of Interest Policy covers its officers, directors, or trustees, all employees of the organization or any related organizations, and family members of person in these categories. All covered persons are required under the policy to disclose actual or potential conflicts as soon as they arise and the directors of the organization and related organizations confirm annually that there are no existing conflicts of interest. Persons with actual conflicts are prohibited from participating in any decision relevant to the situation where the conflict exists. Most conflicts are clearly delineated by the policy situations that are not so clear-cut are reviewed by in-house counsel, the CEO, or Board as appropriate.”

“The organization pays its highest paid workers including the CEO, top management officials and other officers, in accordance with a salary ceiling that is confirmed annually by the board, and was last confirmed in February 2014. This ceiling is subject to adjustment for increased costs of living associated with the geographical areas in which workers are working but is well below the average market salary for workers with comparable levels of expertise and experience.”

“No documents available to the public.”

“The bylaws provide for the executive committee to act on behalf of the board of directors during months in which the board of directors does not meet. The executive commitee consists of five members of the board of directors that are appointed by the full board directors.”

“No director or officer receives compensation for his or her work as a director, officer or trustee instead the amount listed in columns E and F are compensation paid to full-time 40 hours per week employees of the related organization, Self-Help Services Corporation, which serves as the employer for all the filing organizations workers.”

“Non-realized derivative losses, 984,563 Equity acquired in merger 144,695 Cash dividends paid on secondary capital 126,273.”