Fivepoint Credit Union

“Every client that has an account with our credit union is also a member.”

“Our board of directors are elected by a vote of the membership. Annually, if there is an open position, the nominating committee will put forth the candidates which our members can vote on during the annual meeting.”

“Members of the credit union have the right to approve the governing body's election and removal of members of the governing body, as well as other matters that are subject to the approval of members of the credit union as they occur.”

“Form 990 is reviewed by erik shaw, ceo, kenneth miller, evp, and vicki kelley, svp of human resources for its accuracy.”

“Our compliance officer along with senior management review policies annually. We then require employees to sign they have read and understood the policies. Our internal audit department conducts audits and review to ensure compliance.”

“Fivepoint utilizes a 3rd party to provide industry standard and regional specific salary ranges for all staff.”

“The credit union's governing documents and conflict of interest policy are not made available to the public. The credit union's financial statements are made available to the public upon request.”

“The credit union underwent a core conversion during 2017.”

“Lines 2, 17, 25 and 32 were adjusted for 2016 to align with the 2016 audited financial statements. Adjustments were as follows: line 2 and 25 - reclassified $7,228,969 of checks in process orginally classified as other liabilities (line 25) to line 2, as an offset of cash held in financial institiutions. Line 17 and 32 - adjustment of $518,867 recorded to reduce accounts payable and increase equity to align the balances reported in part x with the 2016 audited fs.”

“A committee exists that assumes responsibility for the oversight of the audit of the annual financial statements and the selection of an independent accountant. The process has not changed from the prior year.”