Fellowship Credit Union

“Credit union is state chartered and is comprised of owner/memers who belong toan authorized field of membership and have paid the required minimum membership fee as approved by the board of directors”

“The members hold annual meetings at which time the members present elect open positions for board of directors.”

“A copy of form 990 i8s provided to each board member for review. After review and discussion, the form is approved for remittance to the irs.”

“The credit union monitors the conflict of interest policy to determine any outside entity activitgy and the nature of such interest.”

“Board of directors use the texas credit union's annual compensation survey to evaluate compensation practices in credit unions and compares data for assistance in determining the president's compensation. The president is excluded from all review, discussion, and approval with respect to the compensation arrangement.”

“The credit union makes available at its main office its financial statements and governance documents available to the public upon request.”

“Credit union is a voluntary, cooperative, non-profit savings institution, incorporated under the provisions of the texas credit union act for the purpose of encouraging thrift among its members, providing credit at a fair and reasonable rate of interest and providing an opportunity to improve their economic condition. The credit union offers products and services in three primary areas: share accounts, checking accounts, and loans.”

“No other exempt purpose accomplishments”

“No unrelated taxable income was recorded for the current tax period.”

“Audit fees 11,133 0 0 other prof/outside services 7,336 0 0 support/f&e and computer 59,983 0 0 total 78,452 0 0”