O Bee Credit Union

“The board is responsible for appointing an executive committee consisting of at least three directors who will serve at the board's discretion. The executive committee will be authorized to act on behalf of the board for specific functions delegated by the act, regulations, and board policy.”

“Dave echtle and jennifer roberts-echtle have a family relationship.”

“The bylaws were amended during the year to adjust the composition of the board of directors as follows: - the number of members of the board will be 7 to 9, with the specific number specified by a resultion of the board. -board members may not be employed by any other credit union, or by a bank or consumer loan company during the past two (2) years. -directors may serve a maximum of 4 consecutive full terms. -directors may be compensated for services rendered in their capacity as a director to the extent permitted by law and in accordance with a policy established by the board. Directors may also be reimbursed for reasonable expenses in accordance with a policy established by the board. The bylaw amendments also adjusted the number of members of the supervisory committee to 3 to 5, with the specific number specified by a resolution of the board. The same changes to eligibility, term limits and compensation of board members will now also apply to supervisory committee members. Board committee members will also now be subject to the eligibility requirement of not being employed by any other credit union, or by a bank or consumer loan company during the past two (2) years. Committee members will also be allowed compensation and expense reimbursement as described above.”

“Membership is open to anyone who lives or works in washington state as well as being related to someone who is a member of o bee and is in good standing, and who lives or works in washington state. An individual is considered a member if they have a share or loan account with the credit union.”

“Each credit union member may vote for members of the board of directors and supervisory committee.”

“The form 990 is prepared by the organization's public accounting firm based on information provided by management. Once the draft is available, it is reviewed by management and any changes incorporated into the filing. Once this detailed review is complete, the draft of the form 990 is presented to the board of directors for their review and comments prior to filing with the irs.”

“Annually, directors and key employees must sign a code of ethics that includes conflict of interest guidelines and indicate disclosure of any conflicts of interest. This is monitored via review of responses to the annual code of ethics disclosure. If there are any changes to the person's employment or extra-curricular activities, they are required to report that to human resources.”

“Ceo compensation is determined by the board of directors with the assistance of an outside consultant and industry salary data and is documented in the ceo's personnel file. Other officers or key employee's salaries are determined by the ceo and chief human resources officer using industry salary data and documented in the employee's personnel file. The process described here was last performed in 2024.”

“The governing documents, conflict of interest policy and financial statements are available upon request. Quarterly financial statements are available to the public via the 5300 call report.”