Pollock Employees Credit Union

“In a credit union, its customers are called members. The governing body of a credit union is its Board of Directors. At the Annual Meeting of the members, there is an election to replace any of the Directors of the Board who may be rotating off. Directors are elected from the members, themselves. Each member has only one vote regardless of the amount of money that person may have on deposit at the credit union. The Directors of the Board are truly representatives of the members themselves.”

“In a credit union, its customers are called members. The governing body of a credit union is its Board of Directors. At the Annual Meeting of the members, there is an election to replace any of the Directors of the Board who may be rotating off. Directors are elected from the members, themselves. Each member has only one vote regardless of the amount of money that person may have on deposit at the credit union. The Directors of the Board are truly representatives of the members themselves.”

“The members elect the Board of Directors who are normally the ones who make decisions, along with the President, concerning the credit union. There could be situations in the life of the credit union that could require feedback and approval of the members, but the normal operations of the credit union are overseen by the President and the Board of Directors who have been elected by the members, themselves. If the credit union were to merge with another credit union, for example, the decision to do that would have to be approved by the members of the credit union even though the Board of Directors may have already approved it.”

“The credit union does not have any chapters or affiliates or branches of its own. Our credit union is located in Dallas, TX. There is a Dallas Chapter for all credit unions in the Dallas area. There are meetings of the Dallas Chapter that can be attended, but our credit union has no control over the Dallas Chapter. It is there for our benefit if we desire to attend the meetings. There is, also, the Cornerstone Credit Union League that serves credit unions in Texas, Oklahoma, and Arkansas. We have no control over this organization, but it is there to help us if we ever need help.”

“A copy of the Form 990 is provided by the President to the Directors of the Board at a regularly scheduled meeting. The Form 990 is reviewed, and questions and comments are then submitted to the President for further discussion before there is consideration for approval of the Form 990.”

“The compensation of the employees of the credit union is determined by the Board of Directors at a regularly scheduled Board meeting. Consideration is given to the compensation at other similar financial institutions. Also, experience and job duties are considered. Documentation is made in the minutes of the meeting. This was last reviewed in 2021.”

“Documents are made available to the public upon request. Financial Statements are posted in the credit union office waiting area for public viewing. The financial statements are also handed out at the Annual Meeting of the members and discussed. Twice a year, the membership is alerted by a mailed notice that documents are available for their viewing.”

“Documents are made available to the public upon request. Financial Statements are posted in the credit union office waiting area for public viewing. The financial statements are also handed out at the Annual Meeting and discussed. Twice a year, the membership is alerted by a mailed notice that documents are available for their viewing.”