U S Employees Credit Union

“The Credit Union has member owners.”

“The Credit Union members nominate directors which are then elected to terms of service at the annual meeting.”

“Decisions to merge the Credit Union or discontinue business must be ratified by membership.”

“The accounting department is responsible for the preparation of return. It is then reviewed by CEO and VP of Operations. Then return filed, and a copy is available at the main office location for review by the Board of Directors, auditors, examiners, or the membership of the Credit Union.”

“- As a part of directors policy and current employee code of conduct policy, all directors, officers and employees are prohibited from activity which could be construes as a conflict of interest which the business of the credit union. The organization is so small that it is not difficult to monitor apparent behaviors such as second job or suspicious account activity.”

“The Board of directors is responsible for making the salary decisions for the CEO. The Board appoints a compensation committee which uses industry compensation surveys to make the salary recommendations to the Board. The CEO then uses the same surveys as a tool to make Credit Union officers salary ranges.”

“- Governing Documents, Financial Statements, and Conflict of Interest Policies are available to members upon request at main office located in Tomball, TX.”

“Filing of Form 990-T is in a process. Form 990-T is ready but not filed yet. Due to new IRs requirement to file F 990-T electronically, at the time of filing F 990, provider for electronic filing of F 990-T has not fount yet.”

“Other fees and services include: loan servicing expenses for $ 166,967, armed guard expenses for $ 74,024, shared branch expenses for $56,334, and other professional services for $51,206.”