Fort Mcclellan Credit Union

“Joseph roberson, board of directors chairman is the uncle of supervisory committee chairwoman pamela robertson.”

“Fmcu has contracted with sc&b strategic solutions for multiple years to have doug deese do various accounting consulting work, such as reconciliations, cash counts, budgeting, and assisting fmcu with preparing the quarterly ncua call report.”

“Alabama banking code, section 5-17-5 states that, "credit union membership shall consist of the incorporators and such other persons as may be elected to membership and who subscribe to at least one share and pay the initial installment thereon and the entrance fee. Organizations, incorporated or otherwise, composed for the most part of the same general group as the credit union membership may be members. Credit union organization shall be limited to groups, of both large and small membership, having a common bond of occupation or association or to groups within a well- defined neighborhood, community or rural district." the credit union's field of membership includes primarily persons who live, work, worship, or attend school in calhoun, cleburne, talladega, clay, randolph, cherokee, etowah, st. Clair, and chambers counties, alabama; city, county state, and federal employees living or working in st. Clair and etowah counties; national guard and us army reserve personnel within the trade area of fmcu; and their relatives. As of december 31, 2022, the credit union had membership and provided services to approximately 16,832 members.”

“Members of the credit union elect members of the governing body by plurality vote. This election may be conducted either by electronic device or mail ballot, at the discretion of the board of directors. No member may vote by proxy, but members other than natural persons may vote through an agent designated in writing. Each member is allowed one vote. Members must be over the age of 19 by the date of the meeting in order to vote. Voting must conclude no later than midnight five days before the date of the annual meeting, after which the election tellers appointed by the board of directors will tally the vote. The result will be verified at the annual meeting and the chair will make the result of the vote public at the annual meeting.”

“The following types of decisions are subject to approval by the credit union's members: dissolution and merger of the credit union, election and termination of board members, election and termination of supervisory committee members and conversion from state to federal charter.”

“Management performs a review of the form 990 prior to filing.”

“Credit union staff review the conflict of interest policy each year with the credit union's manager. At this meeting, the staff members are free to ask any questions regarding this policy. The credit union manager constantly monitors the staff to make sure everyone is in compliance with the policy. It is the responsibility of staff or directors to immediately notify the credit union managers of any potential conflict of interest. Additionally, the fort mcclellan credit union does not hire family members for work done at the credit union.”

“Compensation for the ceo is determined on a yearly basis. Before compensation is set, a personnel committee examines the type and amount of work performed by the ceo while taking into account the credit union's prior year income. The committee uses national peer group salary guides provided by cuna as an independent salary guide. The personnel committee then presents the salary to the board of directors for approval. All other salaries are set by the ceo, pending board approval, based upon the cuna salary guide.”

“The credit union's 990 is available to the public on irs.gov. Governing documents availlable upon request.”

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

“All employees who are not a volunteer (board member, supervisory committee member) with the credit union, who are not related to a credit union volunteer, and who have been employed with the credit union for at least one year, are offered loans on specialized terms, including preferential interest rates, other than those offered to regular members in the ordinary course of business. All such loans must be approved by either the consumer lending manager, senior vice president of lending, or ceo of the credit union, and at least two members of the board of directors' loan committee. Loan applications from the executive management will be submitted to the loan committee for approval. All loans to executive management, other than the ceo, must be reviewed by the ceo and the loan committee to verify that knowledge of the loan has been established and that proper underwriting has taken place. The senior vice president of lending will complete the funding of loans to executive management. All of the preceding rules are dictated in the board-approved lending policy at least annually. Such loans to officers and other interested persons are reported each year by the credit union on 990 schedule l.”

“Professional and outside services: program service expenses 1,429,700. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,429,700.”

“Change in other comprehensive income -171,629.”