Pinnacle Credit Union

“This question is answered "no" due to the fact that compensation for officers is reviewed and approved by the president/ceo, not independent persons such as the governing body. Annually, comparable industry standards along with education and experience are considered when determining officer compensation. Once the process is reviewed and approved the process is documented. The organization does not have individuals who fall within the definition of key employee.”

“The Board of Directors, by resolution adopted by a majority of the full Board of Directors, shall designate a Credit Committee, Audit Committee, and may designate from among its members an Executive Committee and one (1) or more other committees, each consisting of three (3) or more persons. Each committee shall have the authority of the Board of Directors in regard to business of the Credit Union to the extent set forth in the resolution establishing such committee, subject to the limitations set forth in the State laws and regulations. The Chairman of each committee must be a director and each member of the committee must be an active member of the Credit Union. Recommended actions from the committees must be approved by a majority vote of the Board of Directors.”

“The organization has members who have the right to participate in the organization's governance. Members of the organization have the right to elect the members of the governing body/ board of directors. The organization does not have classes of membership. All members have one share of the credit union and are entitled to one vote.”

“See form 990, part vi, line 6 narrative.”

“Members of the credit union have the right to approve the governing body's election and removal of members of the governing body, as well as other matters that are subject to the approval of members of the credit union as they occur.”

“The cfo works with the accounting firm to prepare and finalize the form 990. Once complete, the form 990 is shared on a company portal for the full board to review. Once approved by the full board, the tax return is filed with the irs.”

“All interested persons are required to disclose conflicts of interest on an annual basis. The controller/vp of accounting reviews potential conflicts and determines if a conflict actually does exist. If a conflict of interest were to occur, that individual would not be permitted to vote on a topic related to the conflict.”

“The compensation of the president/ceo is determined on an annual basis by the board of directors. Comparable industry standards, education and experience are used to determine compensation and respective increases. The deliberation and decision are comtemporaneously substantiated.”

“Governing documents and conflict of interest policy are available upon request. Financial statements are posted.”

“PAYROLL SERVICE PROVIDER - Total Expense: 23536, Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; SECURITY DETAIL - Total Expense: 92653, Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; OTHER FEES FOR SERVICES - Total Expense: 599599, Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ;”

“OTHER COMPREHENSIVE INCOME - 404684; net asset transfer - -3854557;”