Datcu

“In 2021, datcu's bylaws were updated to include the changes below: 1. Membership updated to include those who live, work, workship, or attend school in collin, tarrant, dallas, grayson, jack, and parker counties 2. Annual meeting quorum requirement exception created to allow for virtual attendance under certain circumstances 3. Minimum number of board members requirement reduced to seven”

“Datcu is a member owned credit union.”

“Membership of credit union elects board of directors.”

“Datcu does not have a committee with authority to act on behalf of the governing body.”

“The board is provided with a copy of the return prior to filing in one of their regular monthly board packages. It is reviewed and accepted at that meeting.”

“Datcu's conflict of interest policy says, in part: board of directors, officers and employees are prohibited from self-dealing or taking advantage of their position in a transaction and acting for their own interests rather than for the interests of the members. Employees unsure as to whether a certain transaction, activity, or relationship constitutes a conflict of interest should discuss it with the ceo or president and internal auditor for clarification. A written quarterly report of all reported activities are presented to the ceo or president and the audit committee by the internal auditor. If a board member identifies a potential conflict, they are required to notifiy the ceo & chairman. The conflicted board member would recuse themselves from voting on any matters relating to the conflict of interest. If an employee or someone with whom an employee has a close relationship (a family member or close companion) has a financial or employment relationship with a competitor, member, supplier or potential supplier, the employee must disclose this fact in writing to the ceo or president. Employees should be aware that if they enter into a personal relationship with a subordinate employee or with an employee of a competitor, supplier, or member, a conflict of interest may exist that requires full disclosure to the credit union. A written quarterly report of all reported activities will be presented to the ceo or president and the audit committee by the internal auditor.”

“Salaries are reviewed annually, and are based on employee and credit union performance, and the market salaries for each position as obtained from a third party compensation study. The board reviews the above information and approves the compensation package for the ceo which is documented in the minutes.”

“AVAILABLE UPON REQUEST.”

“Datcu updated bylaws standards in 2020.”