Mountain West Credit Union Association

“Members of the association consist of state and federal credit unions having their principal office located in the states of arizona, colorado, or wyoming. A credit union having its principal office outside the state of arizona, colorado or wyoming may be an associate credit union member for the association provided the credit union maintains a physical office within the states of arizona, colorado, or wyoming and meets certain other conditions. Such associate credit union member shall have the same voting rights as member credit unions.”

“Members have the right to elect the board of directors through an election process as outlined in the bylaws. The terms of directors are generally three years and are staggered within each class. Each member has one vote for each directorship in their state only. All elections for directors shall be determined by plurality vote, and conclude annually at the annual meeting.”

“Decisions of governing body requiring approval by the membership include:expulsion of a member (2/3 vote), amend the bylaws (majority vote), and amend the certificate of incorporation (2/3 vote).in the event of dissolution of the association, all assets will be liquidated, and all creditors will be paid in full, after which distribution will be made to the member credits unions in proportion to the dues paid by them in that year in which liquidation commenced. Associate members shall not be entitled to any distribution of money or property upon liquidation or otherwise.”

“The form 990 is prepared by the association's cpa firm and then reviewed thoroughly by the association's senior vp/controller before the form 990 is filed.”

“Each board member signs a written conflict of interest document annually. Members of management and the board are aware of board members who may serve on other boards or committees of other organizations and will remind board members with potential conflicts to recuse themselves from a vote (with a conflict of interest) if they have not already done so”

“Ceo - the review is done annually by kga (outside consulting firm) with the executive committee of the board of directors. Kga prepares comparable data and monitors the review process.”

“Other officers and key employees - direct supervisor reviews annually and prepares a written evaluation that is reviewed by the employee and signed, the kga compease program is used to determine salaries based on the competencies and required skill levels”

“No documents available to the public except upon request and approval by key management.”

“The association's officers and other employees are compensated by the association's wholly owned subsidiary, credit union strategic partners, inc. (cusp)84-0620601 (and on the payroll of discovery outsourcing). The total amounts for compensation reported in part vii are the total compensation and benefits paid to the officers by cusp and are reported in column e since the amounts are paid by a common paymaster (discovery outsourcing). The amount reported in part ix, line 7 is the total amount of compensation expense, payroll taxes and benefits for all employees (including officers) allocated to the association by cusp. Such amounts are determined based on time studies and are approved in the budget process for both organizations.”

“Number of employees is reported as zero as the organization does not file form w-3. Discovery outsourcing files form w-3 to report the compensation of all employees.”

“As noted in schedule r, part iv, the association has a wholly owned subsidiary, credit union strategic partners,inc. (cusp). The officers of the association are also officers of cusp. Cusp owns the headquarters facility of the association and rent paid by the association to cusp for 2014 was $62,781.”

“Dues are paid by member credit unions. The member credit unions are tax exempt. Thus, there would not be a tax deduction or benefit for any dues payment.”