Telco Plus Credit Union

“Form 990, Part VI, Section A, Line 6 - Every primary account holder is a member of the credit union.”

“Form 990, Part VI, Section A, Line 7a - Directors serve rotating terms of 3 years and are elected at the Annual Membership Meeting by the member/owners of the credit union.”

“Form 990, Part VI, Section A, Line 7b - A decision to dissolve the credit union would require a vote of the members.”

“Form 990, Part VI, Section B, Line 11b - Form 990 is prepared by the accounting department and the CEO. It is reviewed by independent auditors and state credit union examiners. A filed copy is provided for review to the board of directors.”

“Form 990, Part VI, Section B, Line 12c - Policy is reviewed annually. If a situation arises it is addressed and resolved.”

“Form 990, Part VI, Section B, Line 15 - All employees are reviewed annually by their supervisors. Salaries are compared to local credit unions and banks.”

“Form 990, Part VI, Section C, Line 19 - Financial Statements are posted in the lobby of each branch, as well as on the website. Annual financial reports are distributed at the Annual Membership Meeting. Governing documents and conflict of interest policy are available upon request.”

“Telco Plus Credit Union is a not-for-profit cooperative thrift institution, state chartered and regulated by the State of Texas Credit Union Department and the National Credit Union Administration. Telco Plus Credit Union is a member of the National Credit Union Administration Insurance Fund. Telco Plus Credit Union offers consumer products and services in the following primary areas: Share Accounts, Checking Accounts, Consumer Loans and Home Equity Loans and Mortgage Loans.”

“Form 990, Part XI, Line 9 - Change represents valuation change in Employee Defined Benefit Pension Plan, Other Comprehensive Income.”