Caprock Santa Fe Credit Union

“The credit union was formed by the members to provide quality financial services to its members.”

“The members of the credit union vote on the board of directors. Elections are done on a one member one vote basis.”

“Each director will be given a copy of the form 990 at the board meeting prior to filing the form with the internal revenue service. The form 990 will be discussed and questions will be answered.”

“The board of directors are required to review and be familiar with the policies outlined in the organization's conflict of interest policy. Additionally, the board of directors are required to disclose any action or situation that might violate the policy to the full board of directors as soon as possible.”

“The board of directors use a compensation survey prepared by the cornerstone credit union league, when determining the compensation of the top management official. The president/ceo, as the top management official, is the only employee officer of the credit union. The credit union does not have any other employees meeting the definition of officer or key employee.”

“The credit union will provide a complete copy of its governing documents, conflict of interest policy, and audited financial statements to any member who requests a copy of any such document, at the credit union's office in slaton, tx.”

“Audited financial statements were prepared by an independent accountant for the credit union's fiscal year end of june 30th. The tax return has been and continues to be prepared based on a calendar year end of december 31. The board as a whole is responsible for overseeing the financial statement audit and selecting the independent financial statement auditor.”