Pa Nj Credit Union Association

“Any credit union that is headquartered within new jersey or pennsylvania; and is organized in accordance with state and/or federal laws shall be eligible to become a member of crossstate. Any credit union that is headquartered outside of new jersey and pennsylvania and is organized within the laws of that state, shall be eligible to become a member or an associate member of crossstate. Associate members are entitled to representation by its authorized representative with privileges to participate in discussion, but associate members shall have no power to vote.”

“Crossstate has three categories of members within new jersey and pennsylvania, respectively, who nominate and vote for members of the board of directors. 1.credit unions with assets up to 50,000,000, nominate and elect two members of the board from each state. 2.credit unions with assets greater than 50,000,000 and up to 250,000,000, nominate and elect two members of the board from each state. 3.credit unions with assets greater than 250,000,000, nominate and elect two members of the board from each state.”

“The 990 is prepared by the auditing firm with the information provided by internal management staff. The draft 990 is reviewed by the president and the treasurer. Any changes or clarification are reported to the auditors. A copy is made available upon request.”

“The organization requires the members of the board of directors, the president, the treasurer and the corporate secretary to read the code of ethics annually. Each must then attest by signature to the fact that it has been read, disclose any conflicts of interest or state that no conflicts exist. Under the terms of the code of ethics: a director is required to make a prompt and full disclosure of any material personal interest, either direct or indirect, he or she may have in a transaction to which the organization is a party, including but not limited to the director's relationship with any person or entity with which the organization is doing business. A director shall not vote on or participate in discussions or deliberations on matters when a conflict is deemed to exist other than to present factual information or to respond to questions presented. A director shall assure that the minutes properly record his or her abstention on any votes on matters for which a conflict may exist.”

“The board directors sets and approves the compensation for the top official. Compensation, surveys and independent compensation consultants are used as resources. The directors vote in a closed session, the results are recorded in the minutes which are posted to the secure directors' website. There is a formal written employment contract for this position.”

“UPON REQUEST”

“Equity loss from subsidiary -79,893”