Family Security Credit Union

“Family security credit union is a non-profit financial institution that is owned and operated by its members. Membership is available to individuals and businesses who live, work, worship, or attend school in baldwin, bibb, blount, choctaw, clarke, colbert, cullman, dallas, de kalb, etowah, franklin, jackson, jefferson, lauderdale, lawrence, limestone, lowndes, madison, marengo, marshall, mobile, monroe, morgan, perry, tuscaloosa, walker, washington, wilcox, or winston counties in alabama. In addition, employees and retirees of ruby tuesday, inc., employees and retirees of specialty restaurant group, inc., and employees and retirees of the compass group family of companies, families of members, and organizations of such persons are also eligible for membership.”

“A nominating committee makes recommendations for available board member positions at the annual meeting. Members can also be nominated by petition. Members then vote by ballot when more than one nominee is seeking election.”

“The credit union does not have committees with the responsibility to act on behalf of the governing body.”

“Upon completion of family security credit union's form 990, the return is distributed to the board for review. 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 the form 990, the return is filed with the internal revenue service.”

“Credit union staff review and sign a written conflict of interest policy when hired. This policy is monitored by the credit union. It is the responsibility of staff or directors to immediately notify the credit union managers of any potential conflict of interest.”

“Compensation for the ceo and vice presidents is reviewed on a yearly basis. The ceo reviews the vice presidents' salary and the executive committee reviews the ceo's salary. During the reviews, the ceo and executive committee take into account the type and amount of work performed by the employee while taking into account the credit union's current financial status and budget. Both the ceo and executive committee use the national peer group salary guides provided by cuna as an independent salary guide.”

“Family security 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.”

“Net change in other comprehensive income/loss -3,090,474.”

“The credit union has september 30 year end audited financial statements prepared in accordance with gaap by an independent cpa. On a yearly basis, the alabama credit union administration examines the financial statements. The national credit union administration will periodically perform reviews of the credit union's financial statements.”

“Family security credit union 2204 family security place, sw decatur, al 35603 employer identification number: 63-0757453 for the year ending december 31, 2019 family security credit union is making the de minimis safe harbor election under reg. Sec. 1.263(a)-1(f).”

“Family security credit union 2204 family security place, sw decatur, al 35603 employer identification number: 63-0757453 for the year ending december 31, 2019 family security credit union is making the election to capitalize repair and maintenance costs under reg. Sec. 1.263(a)-3(n).”