Vystar Credit Union

“Participation in this credit union is limited to those who qualify for membership as defined in the credit union's charter and bylaws. Vystar credit union has grown to serve anyone who lives and works within the areas of service from central florida through georgia, as well as past and present military members all over the world. In addition to a regularly qualified member, the spouse of a member, the blood or adoptive relatives of either of them and their spouses may be members.”

“Power to elect or appoint members vystar credit union is a financial cooperative owned by its members. Qualified members may serve on the board of directors or audit committee. Each year, the chairman of the board of directors selects three members to serve on the nominating committee along with two existing members of the board. The nominating committee recommends qualified members to fill all board vacancies. However, if a qualified petition nominating an additional candidate is received from a vystar member, then a ballot election will be held. If a ballot election is held, members who are 18 or older will have the opportunity to vote for the individuals who will fill the vacancies on the board from the candidates selected by the nominating committee and the candidates submitted via a qualified petition.”

“Decisions reserved to member or stockholders per florida statutes, a proposed merger with another financial institution and a proposed charter change (federal, state or bank) are subject to approval by a majority of the votes cast by the members.”

“The form 990 is reviewed and approved by the chief financial officer (cfo) along with the svp accounting. The completed 990 is provided to the executive committee of the board of directors and ceo for their review before the return is filed.”

“Vystar has a written code of ethics policy which covers a variety of issues, including conflicts of interest. The code of ethics is reviewed annually with the board of directors and with all employees. Anytime the code of ethics is revised, all officials and employees are required to read and sign the code of ethics statement and acknowledgement form. Annually, all officials and employees are required to review and confirm that they have reviewed the code of ethics. Employees in the organization's internal audit department regularly conduct audits of officials employees' depository and loan accounts at vystar credit union to identify suspicious activity, which helps to monitor and/or identify any conflicts of interest.”

“Each year vystar credit union participates in one or more senior management surveys that are conducted by an independent industry compensation consultant. We include information with regards to time in job, base salary, variable pay, benefits and prerequisites. We also review 990s of other credit unions. The results of these surveys and analyses are used by the compensation committee, which is comprised of members of the board of directors, to determine the compensation of the ceo. The ceo's compensation and benefits are approved by the board of directors. This process has been in place since at least 1999 and was in place for the current year.”

“Each year vystar credit union participates in local, regional, and national compensation surveys and consults with independent compensation consultants to determine the market competitiveness of our internal salary program. This information is used to help determine the range for the various pay levels for these individuals. This process has been in place since at least 1999 and was in place for the current year.”

“Vystar credit union's governing documents, policies, procedures, and annual reports are not made available to the general public. Our annual reports are available on our website for the most recent six years.”

“ACQUIRED EQUITY - 44713424; Total - 44713424;”