First Corporate Credit Union

“The organization has natural person credit union members.”

“The credit union membership may participate in the election of officials.”

“The chairman of the board of directors is responsible for the preparation of the return. The return is reviewed by chairman of the board of directors. Once the form has been reviewed and any necessary corrections are completed, the return is filed.”

“The conflicts of interest policy is included in the investment alm policy which is presented annually to the board. The conflict of interest policy provides guidelines that the board is to follow. The board also acknowledges that they have reviewed it.”

“Governing documents, conflict of interest policy, and financial statements are not made available to the public.”

“Effective october 29, 2012, first corporate entered into a voluntary dissolution in which all operations ceased. All assets other than certain investments, a majority of the cash, and other miscellaneous assets were sold to catalyst corporate federal credit union and all member credit union share accounts other than non-perpetual capital and permanent investment capital accounts were assumed by catalyst corporate federal credit union. The credit union currently operates as a single-purpose corporate credit union soley for the wind down of the remaining investment securities. During 2013, first corporate returned the non-perpetual capital deposit to the corresponding natural person credit union. During 2013 and 2014, first corporate returned portions of the perpetual contributed capital to the corresponding natural person credit unions.”

“Reclassification adjustment for net losses included in net income of 36,400 less dividends paid on perpetual contributed capital of 44,891 less distribution of perpetual contributed capital in the amount of 6,026,732.”

“Audit and tax preparation fee 11,481 credit analysis fee 5,800”