Eecu

“Members in the credit union are owners and entitled to vote and elect representation on the Board of Directors at the annual membership meeting. Individuals who qualify for membership may become members by opening an account for $5.00.”

“Members elect a Board of Directors from among their numbers. Members vote at the annual meeting to fill seats for those Board members whose terms have expired.”

“The members approve changes in the credit union's bylaws. Other decisions such as a vote to merge the credit union must be approved by the membership. The members approve the prior annual meeting minutes at each annual meeting.”

“The credit union has a local credit union chapter, but EECU does not govern the activities of the chapter. The chapter serves primarily as a training/educational tool for local credit unions. The chapter meets once per month.”

“A copy of the Form 990 was approved by the Board of Directors before filing. The Form was prepared by the credit union's Executive Vice President and reviewed by the Chief Executive Officer before presenting it for approval by the Board of Directors.”

“The Board members have a conflict of interest policy and annually must attest to their review and agreement with the requirements of the statements.”

“Compensation of the CEO and officers is reviewed annually by outside, third-party human resource consultants who compare position compensation levels to prevalent industry practices and trends. Salary ranges are recommended based upon the asset size and complexity of the organization. This analysis is used for the CEO and senior management staff on an annual basis. The analyses and recommendations are presented to the compensation committee for approval. Meetings of the Board of Directors and committees are documented in writing and presented to the governing body for approval each month.”

“The credit union's Form 990 and Form 990-T are available for review upon request by the members in EECU's corporate office. The credit union's annual report is provided to members at the annual meeting and is available on the credit union's website. It may also be obtained upon request.”

“The credit union's laws, rules, bylaws, financial statements, and board policies are available for review upon request by the members in EECU's corporate office. Financial statements are posted monthly in each branch office and annual audited financial statements are presented to the members at the annual meeting. The audited financial statements are published in the annual report and provided to those members in attendance at the annual meeting. The annual report is also available on the credit union's website.”

“Asset growth XXX-XX-XXXX.”

“The audit committee assumes responsibility for oversight of the independent audit, regulatory examinations, compliance audits, and internal audits. The committee meets on a quarterly basis. There has been no change in the oversight processes.”

“Part XI line 9 includes an amount of $103,733,165 that represents the net increase in assets that occurred during 2017.”