State Chartered Credit Unions in Florida

“Community credit union of florida has members as specified by its bylaws.”

“Community credit union of florida members have the power to elect the members of the governing body.”

“Community credit union of florida members have the power to elect or remove the members of the governing body.”

“Community credit union of florida does not have committees with authority to act on behalf of the governing body.”

“The form 990 is presented to the board of directors for review and approval prior to filing with the internal revenue service.”

“The board of directors of community credit union of florida (the credit union) recognizes that from time to time situations arise that can lead to conflicts of interest. The board of directors and their family members are not permitted to take advantage of their position, directly or indirectly, for private gain, to advance personal interests, or to obtain favors or benefits. There can be no self-dealing or self-interest in any transaction. The board of directors must sign the conflict of interest policy when they are initially appointed and then annually at the annual meeting of the members. The document is reviewed prior by the board attorney to see if changes are needed. These documents are then saved to the board members file. Members of the board of directors of this credit union are expected to: o conduct the business of the credit union in full compliance with both the letter and the spirit of the law and the guidelines established by this policy. O use confidential information properly. O recognize, disclose, and avoid conflicts of interest. O protect credit union property, including information, products, services, and assets. O properly manage personal finances. O treat fairly and with respect all with whom they have dealings. O disclose conflicts of interest in advance the audit committee is responsible for follow-up on any suspicious activity evidenced from its review of the affirmation form. The committee will report to the board of directors any findings that might compromise the integrity of the credit union or be in violation of the code of conduct requirements of this policy. When there is deemed to be a conflict of interest with one of the board members, then the board member must abstain from voting on that item.”

“The compensation of the chief executive officer is determined by the board of directors annually. The board has engaged a third party to develop a compensation plan and performance appraisal for the chief executive officer. The board assesses the chief executive officer's performance and based on the overall performance rating, the salary increase is awarded based on a predetermined percentage. The board chair delivers the performance review to the ceo and approves the salary increase. Community credit union of florida utilizes the same third party to determine salary ranges for all positions. The third-party compiles data from numerous sources to benchmark the salary ranges for each position at community credit union of florida, including key employees. Seven compensable factors are used to determine the salary grade, which determines the salary range. The chief executive officer has the authority to determine the salary of key employees. The credit union maintains contemporaneous documentation related to the compensation-setting process. The last time this process occurred was in 2024.”

“Community credit union of florida makes its governing documents, conflict of interest policy, and audited financial statements available to the public upon request in the same time and manner as other disclosures required under internal revenue code section 6104.”

“Changes in pension plan funding 1,052,224.”

“Community credit union of florida's oversight and selection process has not changed from the prior tax year.”