1St Northern California Credit Union

“The credit union has members who become members upon the establishment of a valid share account with the credit union. Membership to the credit union is for any and all persons who live, regularly work, currently attend school, or currently worship as well as any and all businesses, corporations, and other legal entities in contra costa, alameda, and solano counties, california. In addition to a regularly qualified member, the spouse of a member, the blood, or adoptive relatives of either of them and their spouses may be members.”

“Each member has one vote in the election of the board of directors.”

“The members have the right to amend the bylaws of the credit union.”

“There are no committees who have authority to act on the behalf of the governing body. The supervisory committee, however, is made up of five (5) fellow credit union members and is elected by the membership. The function of the committee is to conduct audits of the credit union's financial records at least once a year. The committee may also periodically appraise the policies, procedures and operations of the credit union, and make recommendations to the board of directors for any improvements or change.”

“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.”

“There is an annual review of the conflict of interest policy and a signed acknowledgement each year. The supervisory committee routinely monitors various credit union records as well as volunteer and employee accounts for conflict-of-interest related activity with the monitoring task rotated amongst the committee members. The credit union's compliance officer also monitors for conflict of interest. Any conflict of interest incidences are to be noted in the supervisory committee minutes along with actions taken as a result.”

“The board of directors determines the ceo's compensation based upon merit and comparable data for similar credit unions from several sources. This process is documented in the board executive meeting minutes. The board sets the maximum level (e.g. 3%) for all employees and the ceo is delegated the authority on determining everybody else's annual increases. Exceptions would be for employees who are being promoted and fall into a new salary range. The ceo conducts an annual meeting with the hr manager and the svps in which the salary for each employee (except the ceo) is reviewed based upon their evaluations and adjusted within the guidelines set by the board. The meeting is documented by hr. This process was last completed in 2021.”

“Financial statements are posted in each branch office on a monthly basis. Governing documents and conflict of interest policy would be made available to the requestor upon request.”