Greater Nevada Credit Union

“The credit union has one class of member, which are: (i) shareholders of the credit union who live or work in the following nevada counties: carson city, churchill, clark, douglas, elko, esmeralda, eureka, humboldt, lander, lincoln, lyon, mineral, nye, pershing, storey, washoe, white pine; (ii) spouses of persons who died while within the field of membership of this credit union; (iii) employees of this credit union; (iv) persons retired as pensioners or annuitants from the above employment; and (v) members of their immediate families. Members do not receive shares of profit other than through share account dividends.”

“For each vacancy of the board of directors, the nominating committee files nominations with the secretary of the credit union at least 90 days prior to the annual meeting. Nominations for vacancies may also be made by members of the organization via petition signed by 500 members or one percent (1%) of the membership eligible to vote at meetings of the members, whichever is smaller. Should there be a contested election, the election is then determined by plurality vote open to all members of the organization eligible to vote.”

“The form 990 is prepared by an independent accountant in conjunction with the organization's cfo and the vp of accounting and finance. The cfo, who is a member of the executive management team, then reviews and approves the form 990 prior to filing with the internal revenue service.”

“The conflict of interest policy requires that all directors with a material financial interest in a transaction must disclose such material financial interest or common directorship to the board via an annual disclosure form. The board shall determine whether a conflict exists and in the case of an existing conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable. If a conflict is deemed to exist, they must recuse themselves from participating in any consideration or decision related to the transaction. Such disclosure and abstention from a vote will be made part of the record of the board's meetings. The decision of the board on these matters will rest in their sole discretion, and their concern must be the welfare of the organization and the advancement of its purpose.”

“The president/ceo's compensation is determined by the board of directors. Compensation survey data obtained from outside consultants is utilized to determine appropriate salary and benefit levels for the president/ceo. The board has engaged with a third party firm for ceo performance review and compensation analysis to annually review compensation. Compensation for other officers and key employees was determined using comparability data. This was reviewed and approved by the ceo and chiefs. Documentation was only needed for anything over midpoint. This process was is completed annually for executive level employees.”

“The credit union's annual report is posted on greater nevada credit union's website and available to members at the annual meeting. Internal financials are published monthly in each of our branches. The governing documents and conflict of interest policy are not made available to the public.”

“The organization currently does not originate new commercial loans.”

“Final change in investment in gcl -2,547,787. Ubi reported on partnership schedule k-1 1,287,529.”