League of Southeastern Credit Unions

“Standing and special committees, appointed by the chapter president or requested by the league, may be created from time to time to facilitate the operation and proper function of the chapter. These committees have the authority to act on behalf of the governing body as prescribed by the governing body.”

“Lscu service corporation, inc. Provides all management duties. Their services include payroll, human resources, accounting, facilities, and information technology for the league and affiliates. All officers, trustee, and key employees are paid by lscu service corporation, inc. And their compensation is reported on part vii, section a.”

“The organization has members made up of credit unions throughout the states of alabama, florida, and georgia.”

“The organization has members who elect the governing body. Elections are held annually but not all directors' positions are up for election. The governing body has staggered terms.”

“The members must approve the annual budget.”

“The 990 is reviewed with the board treasurer, cfo, ceo, and league president and then shared with the entire board prior to filing. The document is reviewed at each line level.”

“No director, committee member, officer, agent or employee of the corporation in any manner, directly or indirectly participate in the deliberation upon the determination of any question affecting his pecuniary interest or the pecuniary interest of any corporation, partnership, or association in which he is directly or indirectly interested. In the event of the disqualification of any director respecting any manner presented to the board of directors for deliberation or determination, such director shall withdraw from such deliberation or determination; and in such event the remaining qualified directors present at the meeting, if constituting a quorum with the disqualified directors, may exercise with respect to this matter, by majority vote, all the powers of the board of directors.”

“Lscu service corporation, a related organization, pays all salary and benefits. An outside consultant is hired by the board to produce a comprehensive compensation review and makes recommendations to the compensation committee. Once reviewed by the compensation committee, any recommended changes to the ceo compensation are brought to the board for approval. All other officers' compensation is reviewed by labor iq to compare salaries of like jobs in the association industry at our revenue size.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.”

“Investment from subsidiaries 3,444,723.”