Tex Mex Credit Union

“Tex mex is a state chartered credit union comprised of owner/members representing a common field of membership and who have paid into their share accounts a minimum authorized membership fee.”

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

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

“All board of directors and key employees are required to file an annual conflict of interest disclosure statement. The credit union monitors these statements to determine any outside entity activity and the nature of such interest.”

“Board of directors review the compensation paid to their key employees on an annual basis and compares compensation levels against industry standards, credit union size, and services offered. All deliberations are formally recorded in appropriate official minutes.”

“The credit union posts its financial statements in the credit union lobby for members to review. The governance documents and conflicts of interest statements are available in the credit union office for review 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 members, providing credit at a fair and reasonable rate of interest, and providing an opportunity for members to improve their economic condition.”

“Accomplishments in year 2015 are recorded in 990 form, part iii, line 4 attached.”

“There was no unrelated exempt income reported for taxable year 2105.”

“Professional/outside service 96,865 0 0”

“Adjust. Undivided earnings -320 total -320”