Avadian Credit Union

“Avadian credit union is a non-profit financial institution that is owned and operated by its members. In order to become a member of the credit union, an individual can meet any of the eligibility requirements below: -if you live, work, worship or attend school in the following counties: autauga, baldwin, blount, calhoun, cherokee, coffee, colbert, cullman, dallas, dekalb, elmore, etowah, geneva, houston, jackson, jefferson, lauderdale, lawrence, lee, limestone, madison, marion, marshall, mobile, montgomery, morgan, pike, randolph, shelby, st. Clair, talladega, tuscaloosa, walker, or winston. -if you are an employee of an avadian select employee group. -if you are related by blood or marriage to members of avadian credit union.”

“The members of the credit union elect board members at their annual meeting. Any open positions on the board are filled at this time. In order for a board member to be elected a quorum must be present at the meeting.”

“Bylaw changes are voted on by members.”

“Upon completion of the credit union's form 990, the return is presented to the board at a board of directors meeting. At the meeting, the board members review the tax return and are free to ask any questions or engage in discussion regarding any topic covered in the return. Once the governing body has reviewed and approved the form 990, the return is filed with the internal revenue service.”

“The conflict of interest policy is monitored through the requirements of the personnel policy for employees. This policy requires that any conflict of interest or potential conflict of interest be reported in writing to the president of the credit union whether the conflict arises from actions of an employee, director or official of the credit union or from a family member of any employee, director or official of the credit union. Board and committee members must complete an annual disclosure statement.”

“The board of directors review the ceo's salary on an annual basis. The board reviews the performance of the ceo while taking into account the overall performance of the credit union. Additionally, the board uses "cues" compensation surveys in conjunction with compease data, which provides independent comparable salary data for the deliberation and decision making process. Compensation for other officers, key employees & management officials is determined on a yearly basis by the ceo. The ceo uses similar salary survey data while taking into consideration the type of work performed, supervisor performance evaluations, and the overall performance of the credit union.”

“The credit union makes available its financial statements via the ncua website which can be found at www.ncua.gov. Other documents are available to the public upon request.”

“Pension adjustment -1,207,895.”

“No changes have occurred in the process from the prior year.”

“Avadian credit union one riverchase parkway south birmingham, al 35244 employer identification number: 63-0207315 for the year ending december 31, 2016 avadian credit union is making the de minimis safe harbor election under reg. Sec. 1.263(a)-1(f).”

“Avadian credit union one riverchase parkway south birmingham, al 35244 employer identification number: 63-0207315 for the year ending december 31, 2016 avadian credit union is making the election to capitalize repair and maintenance costs under reg. Sec. 1.263(a)-3(n).”