Sunwest Educational Credit Union

“Member owned, not for profit financial institution - State Chartered Credit Union 11,074 Members”

“An annual election is held for membership to elect the members of the board of directors. Any member in good standing over 18 years of age may run for an open position on the board that is vacated due to an expiring term or other circumstance which may create a vacancy. All members in good standing over 18 years of age are eligible to vote. Each member is entitled to only one vote.”

“A copy of the completed Form 990 is provided for review to each member of the board of directors upon completion. The vice president of finance is available to answer any questions. The 990 is then voted on and approved by a quorum of the board of directors prior to submission.”

“All employees and volunteers are required to disclose any conflict of interest on an annual basis. Conflicts of interest are determined at an executive/board level. Actual conflicts of interest are reviewed at an executive/board level. Annual disclosure statements must be signed by all employees and volunteers.”

“The board of directors determines compensation for the President/CEO, using available comparability data. The board of directors has granted the President/CEO authority to determine compensation for the other officers and key employees of the organization within the compensation budget. Compensation reviews are performed annually and were last conducted in 2020.”

“The governing documents, conflict of interest policy and financial statements are available for inspection at the main office of the credit union upon request.”

“ATM Expenses $324,656, Card Services Expenses $267,626, Other Professional Fees $110,582.”

“The credit union has engaged an audit firm to conduct an agreed-upon procedures engagement for the period of July 1, 2020 through June 30, 2021. The engagement will meet the minimum requirements established by Part 715 of the NCUA Rules and Regulations.”