Vystar Credit Union

“As a state-chartered community credit union, our membership is defined geographically. If you live or work within the counties defined as "northeast florida" then you are eligible to become a member of vystar credit union. We currently serve members in the following 17 counties: alachua, baker, bradford, clay, columbia, duval, flagler, gilchrist, hamilton, levy, putnam, marion, nassau, st. Johns, suwannee, union and volusia counties. Description of classes of persons and the nature of their rights form 990, part vi, line 7a 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, the entire membership (449,000 members) 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. Describe classes of persons, decisions requiring appr & type of voting rights form 990, part vi, line 7b per florida statutes, a proposed merger with another financial institution and a proposed charter change (federal or state) are subject to approval by a majority of the votes cast by the members. Describe the process used by management &/or governing body to review 990 form 990, part vi, line 11b the form 990 is reviewed and approved by the vp accounting. The completed 990 is provided to the board of directors for their review before the return is filed. Description of process to monitor transactions for conflicts of interest form 990, part vi, line 12c 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 by 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. Employees in the organization's internal audit department regularly conduct audits of officials' and employees' depository and loan accounts at vystar credit union, to identify suspicious activity, which helps to monitor and/or identify any conflicts of interest. Offices & positions for which process was used, & year process was begun form 990, part vi, line 15a each year vystar credit union participates in a senior management survey that is conducted by an independent industry compensation consultant. We include information with regards to time in job, base salary, variable pay, benefits and prerequisites. The results of this survey are used in determining the compensation of the ceo. This process has been in place since at least 1999, and was in place for the current year. Offices & positions for which process was used, & year process was begun form 990, part vi, line 15b each year vystar credit union participates in local 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. Avail of gov docs, conflict of interest policy, & fin stmts to gen public form 990, part vi, line 19 vystar credit union's governing documents, policies, procedures and financial statements are not made available to the general public. Our audited financial statements would be provided to a member or non-member upon request.”

“Form 8275 is attached to form 990-t to report the treatment of the income from gap.”