Woodstone Credit Union

“The Credit Union's members, who are at least eighteen years of age, have a right to elect members of the governing body. Also, Credit Union members may receive dividends, declared from the Credit Union's earnings, which remain after the deduction of expenses and amounts required for reserves. However, the Credit Union's members do not vote or otherwise participate in the decisions regarding dividend declarations. Dividends, if any, are declared by the Chief Executive Officer.”

“The Credit Union's members, who are at least eighteen years of age, have the right to elect the Board of Directors and the Supervisory Committee.”

“The Credit Union's members, who are at least eighteen years of age, have the right to vote on whether to remove one or more directors. Such a vote would occur at a Special Membership Meeting, which can only be called by the majority of the Credit Union's Board of Directors, the majority of the Credit Union's Supervisory Committee, or written application by the lessor of ten percent or two thousand members of the Credit Union.”

“Prior to filing Form 990, Return of Organization Exempt from Income Tax, the entire return is reviewed by the Chief Financial Officer, the Chief Executive Officer, and finally, the Executive Committee of the Board of Directors. Once the reviews are complete, a hard copy of the return is made available to all Board members.”

“The Credit Union's conflict of interest policy is reviewed annually and revised as needed. The policy is clearly explained in the Credit Union's Code of Ethics, and all employees and board members are required to read and sign an acknowledgement of receipt of the policy annually. The policy is monitored by the Director of Human Resources, and compliance is enforced by senior management on a case by case basis. All instances of conflict of interest are addressed immediately.”

“The Director of Human Resources annually performs a compensation analysis by participating in analyzing salary surveys conducted within the appropriate market place. Based on analysis, salary ranges are established for each position in the organization. The Board of Directors reviews and approves the CEO salary. The CEO reviews and approves the salaries of all other employees.”

“The Credit Union's governing documents, conflict of interest policy and financial statements are available to the public upon written request.”