Vystar Credit Union

“Form 990, part vi, line 6 as a state-chartered community credit union, our membership is defined geographically. If you live or work within the counties defined as 'northeast florida'central florida' then you and your family members are eligible to become a member of vystar credit union. We currently serve members in the following 22 counties: alachua, baker, bradford, brevard, clay, columbia, duval, flagler, gilchrist, hamilton, lake, levy, putnam, marion, nassau, orange, st. Johns, seminole, sumter, suwannee, union and volusia counties.”

“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, 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.”

“Voting rights form 990, part vi, line 7b 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.”

“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, ceo, and cfo for their review before the return is filed.”

“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 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 officialsemployees' depository and loan accounts at vystar credit union, to identify suspicious activity, which helps to monitor and/or identify any conflicts of interest.”

“Was begun form 990, part vi, line 15a 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 990's of other credit unions. The results of these surveys and analysis 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. 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, 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.”

“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 ARE AVAILABLE ON OUR WEBSITE FOR THE MOST RECENT FIVE YEARS. Supplemental Information Form 990, Part VIII, Line 2D Form 8275 is attached to Form 990-T to report the treatment of the income.”

“Form 990, part xi, line 9 merger and acquisitions - anchor 7 credit union $(7,677)”