Seattle Metropolitan Credit Union

“The governing body (the board) delegates some authority to sub-committees also comprised of elected directors. Within the authority delegation, there is a compensation committee, a ficom (financial & budget committee.)”

“Membership is open to anyone who lives or works in the state of washington including: city of seattle employees, employees of partner select employer groups and any person related to a current member by blood, marriage (including domestic partners), or adoption, regardless of where that person lives.”

“The governing board of seattle credit union is comprised of volunteer members who are directly elected by its members. Each member of the governing board serves for a period as prescribed by our by-laws.”

“At the end of each term of the board members, elections are held and board members are voted by the members of the credit union pursuant to its by-laws. Member votes are also required to ratify decisions dealing with reorganizations as in the case of merger or dissolution.”

“Management will review the 990 based on the information provided to our cpa. A copy of the 990 will be presented to the board of directors for their final approval.”

“Employees sign annually that they have reviewed the conflict of interest policy. The internal audit department and managers monitor to ensure any conflicts of interest are identified. Directors and members of committees are required to disclose conflicts of interest and potential conflicts of interest, including those in situations in which they may be inadvertently placed, as a result of business or personal relationships with members, suppliers, business associates, or competitors of the credit union. Directors and members of committees will avoid any interest or activity that is in conflict with the conduct of their official duties. Directors and members of committees will recuse themselves from consideration of any contract, transaction or relationship in which they or their family members have an interest.”

“The human resources department contracts an outside firm to review salary, benefits and perks for vps and above. They do a market analysis at local area and industry level. The board conducts a review of the ceo's salary and adjusts their salary based upon performance. This review process was last undertaken in 2021.”

“The unaudited internal financial statements are posted at every branch monthly, and the audited financial statements are provided to the members at the annual meeting and are posted on our website. The governing documents and the conflicts of interest policies are generally not provided to the general public, unless a specific inquiry is made.”

“Consulting fees 616,876. Processing & service fees 4,374,184.”