Arizona State Credit Union

“The organization has members.”

“The process of electing the board of directors: notice of annual election is communicated to membership requesting interested individuals submit an application for any open director positions. The board appoints a nominating committee who screens and interviews candidates to place on the ballot. The ballot is voted on by the membership.”

“Certain organizational items, such as charter, change or merger, are subject to board approval. Also, membership can request a member expulsion by a majority vote at an annual or special meeting.”

“Information needed to prepare the 990 is assembled by the accounting manager and cfo, which is then forwarded to cliftonlarsonallen for preparation of the form 990; once drafted, the form 990 is reviewed by the chief financial officer.”

“Credit union procedures require annual, written acknowledgement by each associate and volunteer documenting their understanding and compliance with the code of conduct and business ethics policy. Each associate must also complete online training and pass an online test each year to demonstrate their understanding of these policies.”

“We utilize kg & associates (credit union compensation experts) to determine salary ranges and market pricing for the phoenix area for all employees, including the ceo and executive officers. Salary ranges are reviewed every year to ensure market equity is in line with our "total compensation" philosophy. We also complete compensation surveys with other compensation analysts to ensure a broader sampling.”

“Regulatory financial reports provided by ncua.gov”

“Dyan mashman's employment was terminated in july 2013; a current address can be researched by pam vollmer in the executive's office. Paul stull left the organization in feb 2014 and a current address is unknown. Dean vigfusson left the organization in dec 2012 and a current address is unknown.”

“Change in unrealized gain on securities available-for-sale -10,765,379. Change in unrealized loss on defined benefit pension plan assets 2,692,000. Amortization of unrealized loss on defined benefit pension plan assets 1,565,000.”

“The audit committee assumes responsibility for the oversight of the audited financial statements. There has been no change in either the oversight process or the selection process during the tax year.”