Service One Credit Union Inc

“Service one credit union is a nonprofit cooperative organized under the laws of the state of kentucky and had approximately 16,883 members as of december 2024.”

“Each member of the board of directors is nominated for election to a three year term by the members present at the annual meeting held in april of each year.”

“Any member of the credit union may attend the annual members meeting to present any item of business for consideration for the entire membership including a vote to reverse prior decisions made by the governing body upon obtaining a majority vote to do so.”

“A draft copy of the form 990 is reviewed and approved by the president/ceo prior to filing the return.”

“Officers and directors of the credit union are required annually to disclose in writing on forms that they are not engaged in any relationships constituting a conflict of interest with the credit union's business, which forms are maintained with human resources, and are monitored on an ongoing basis by the security officer. If and when a conflict does arise it is brought to the attention of the ceo and board of directors. The security officer brings the exceptions to the attention of state and federal examiners.”

“The board of directors evaluates the performance and salary of the ceo annually. The board assesses the performance against targets established in the previous year to determine the extent to which goals were met. For other management employees the credit union uses the services of an employment specialist to determine pay ranges for each job position. Annual performance reviews are conducted by supervisors of each employee to determine the extent to which goals have been met.”

“Governing documents and the credit union's internally prepared financial statements are made available upon request.”