Transcend Credit Union

“The Board may appoint an executive committee consisting of not less than three (3) directors. Subject to any limitations or conditions prescribed by the Board or otherwise set forth in KRS Chapter 286.6 and applicable laws governing nonprofit corporations, the executive committee may be authorized to act for the Board in any capacity the Board may otherwise act. The Board may authorize other committees to transact specified business on their behalf; this authority is limited to the scope and parameters set by the Board and must be clearly stated at the onset of the assignment.”

“The credit union shall have members. A person shall not be eligible for membership unless they satisfy the field of membership requirements set forth herein. The field of membership of this credit union is limited to: Bullitt, Henry, Jefferson, Oldham, Shelby, Spencer, Trimble, Daviess, Anderson, Franklin, Woodford, Mercer, Boyle, Lincoln, Garrard, Jessamine, Fayette, Scott, Harrison, Bourbon, Nicholas, Clark, Madison, Powell, and Estill Counties, in Kentucky.”

“The initial board of directors shall be selected by the subscribers to the Articles of Incorporation of the credit union and shall serve until the first annual meeting of members or until the election of their successors, whichever is later. All subsequent directors shall be elected by the members at the annual meeting.”

“The form 990 is prepared by an outside accounting firm and reviewed by the evp and cfo prior to providing a copy to the remainder of the board. After review and discussion &/or questions and corrections, the complete and final form 990 is efiled.”

“The organization has an annual form to disclose all conflicts of interest for each board member to complete. The organization also has a form to complete throughout the year as applicable.”

“The compensation of the president/ceo is determined on an annual basis. The compensation was reviewed and approved by the board of directors. Prior to making its determination, the board of directors obtained and relied upon a study conducted by d. Hilton associates, inc. , which is determined to be appropriate data as to comparability. The basis for determination was adequately documented in the minutes.”

“The compensation for other officers of the organization are determined on an annual basis. The officer compensation was reviewed and approved by the ceo. Prior to making the determination, the ceo obtained and relied upon compensation reports regarding similar positions , which is determined to be appropriate data as to comparability. The basis for determination was adequately documented .”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

“The filing organization provides free credit counseling to all members.”