Lowland Credit Union

“The charter and bylaws call for an annual election of directors by the members. Each member is entitled to one vote irrespective of the number of shares/deposits.”

“The charter and bylaws call for an annual election of directors by the members. Each member is entitled to one vote irrespective of the number of shares/deposits. The candidates for directors are nominated by a nominating committee appointed by the board of directors. The directors are elected at an annual meeting called for in the bylaws.”

“The charter and bylaws call for an annual election of directors by the members. Each member is entitled to one vote irrespective of the number of shares/deposits. The candidates for directors are nominated by a nominating committee appointed by the board of directors. The directors are elected at an annual meeting called for in the bylaws.”

“Under the bylaws, the directors meet monthly to review the operations of the credit union. Their actions are documented in written monthly minutes. The board of directors approve the operating policies that direct management in the day-to-day operations of the credit union.”

“The board of directors appoint committees to oversee specific operations of the credit union including an audit committee, which hires an independent auditor to perform an annual audit of the credit union, and a personnel committee which recommends an overall compensation plan for the credit union as a whole. Committee minutes are maintained. Committee recommendations are voted on/approved by the full board of directors.”

“The form 990 will be made available to all board members at their next board meeting following receipt of completed return.”

“The credit union has a written conflict of interest policy. All officers, directors, and key employees are required to disclose annually any interest that could give rise to conflicts. All material contracts are approved by the board of directors.”

“The personnel committee recommends compensation for the ceo, management, and staff based on an annual survey of compensation of credit unions of comparable size and job classifications and other factors. The overall compensation plan, including ceo and management compensation, is reviewed/approved by the board of directors. For staff, the ceo and/or department managers complete annual employee evaluations and are authorized to set staff compensation within the range approved by the personnel committee and board of directors.”

“The personnel committee recommends compensation for the ceo, management and staff based on an annual survey of compensation of credit unions of comparable size and job classifications and other factors. The overall compensation plan, including ceo and management compensation, is reviewed/approved by the board of directors. For staff, the ceo and/or department managers complete annual employee evaluations and are authorized to set staff compensation within the range approved by the personnel committee and board of directors.”

“Upon request, copies of the credit unions annual form 990 are provided to any member or non-member that requests a copy.”

“Written copies of policies and procedures are provided to members upon request. Monthly financial reports are posted in the lobby for members review.”

“The unrealized losses on the debt securities were caused by interest rate increases and market dislocation. These securities are currently performing as expected. Management does not consider the investments to be other-than-temporarily impaired and the credit union has the ability and intent to hold the investments to full recovery of the cost basis. The recovery will occur over their weighted-average estimated remaining life.”

“The credit union has a written whistleblower policy. The policy is reviewed annually by the board of directors.”