Potlach No 1 Financial Credit Union

“Participation in this credit union is limited to those who qualify for membership as defined in the credit union's articles of incorporation, charter, and bylaws. This generally consists of the following: idaho membership all employees, employers, students, and retirees of agriculture, forestry, fishing and hunting, mining, utilities, construction, manufacturing, wholesale trade, retail trade, transportation and warehousing, information, finance and insurance, real estate and rental and leasing, professional, scientific and technical services, management of companies and enterprises, administrative and support and waste management and remediation services, educational services, health care and social assistance, arts, entertainment, and recreation, accommodations and food services, other services, and public administration as defined in the north american industry classification system who reside in, work in, are headquartered in or are paid from adams, benewah, boundary, clearwater, gem, idaho, kootenai, latah, lewis, nez perce, payette, shoshone, washington, and valley counties and the organizations of such persons. Oregon membership persons who live or work in or organizations located within the communities in oregon consisting of baker, grant, harney, malheur, morrow, umatilla, union, and wallowa counties, oregon. Washington membership natural persons who live, work, worship, or go to school in the state of washington. In addition to a regularly qualified member, the spouse of a member, the blood or adoptive relatives of either of them and their spouses may be members.”

“Members of p1fcu vote annually to elect board members to the board. Those board candidates are selected by the current board or by volunteers via newsletter.”

“Members of p1fcu are required to vote on matters such as a charter change or a possible merger.”

“Once the draft is submitted to the credit union by the paid preparers, it will be reviewed by the accounting manager, svp of finance, and cfo before the draft is submitted to the president/ceo for signing and filing.”

“The credit union has an employee handbook that includes the conflict-of-interest policy that is required to be signed annually by all employees. The conflict-of-interest policy is also applicable to board members. The ceo monitors the conflict-of-interest policy for board members and hr monitors the policy for employees. The board member would abstain from the voting if there was a conflict of interest identified.”

“Compensation is reviewed annually based on a performance evaluation on the anniversary date of the officer or employee. The ceo's compensation is determined based upon a compensation committee that uses a compensation survey/study by an independent compensation consultant.”

“The credit union makes its governing documents and financial statements available at its annual meeting and upon request.”

“Defined benefit pension plan: change in actuarial gains/(losses) arising during the period 2,516,162. Defined benefit pension plan: amortization of unrecognized other gains/(losses) 626,166. Defined benefit pension plan: amortization of prior service cost 213,712.”

“There were no changes in the process of the committee that assumes responsibility of the oversight of the audit and selection of the independent auditor.”