Usc Credit Union

“The organization is a cooperative financial institution that has members. An individual is eligible to become a member if they meet any of the criteria listed below: 1. Current usc employees, faculty, staff or enrolled students. 2. Usc alumni and alumni association members. 3. Any and all persons, who live, regularly work, currently attend school or currently worship in the city of los angeles, california, as well as any and all businesses, corporations, and other legal entities in the city of los angeles, california. 4. Any and all persons, who live, regularly work, currently attend school or currently worship in orange county, california, as well as any and all businesses, corporations, and other legal entities in the orange county, california. 5. Employees of the following employers in specific cities: a. Woodbury university, burbank, ca b. Los angeles child guidance, inc., los angeles, ca c. John tracy clinic, los angeles, ca d. Kenneth norris jr. Cancer hospital, los angeles, ca e. Health research association,, los angeles, ca 6. Persons within the immediate family of a member. 7. "household members" of a member, including domestic partners. 8. Employees of this credit union.”

“Any member can nominate a member to the governing body. The nominees are voted on at the annual meeting which can be attended by any member.”

“The ceo, cfo, and the controller review the form 990 and verify that it is comparable to actual results. A copy of the return will be given to the board before filing.”

“The credit union reviews the policy on an annual basis to make sure it encompasses all it should. Employees and managers are required to report any violations of the policy to their supervisor and/or hr. Employees are expected to notify management when a conflict of interest arises. As for accounts at the credit union, all employee accounts and accounts of their family are restricted and the employee will not have access to those accounts. Annually, employees are required to submit those accounts that belong to them or their family members to our compliance officer.”

“The ceo's compensation is reviewed with the personnel committee (which consists of members of the board). The vp of hr prepares survey data for the committee regarding ceo pay and compensation from three sources and then the committee meets. The meetings are held quarterly. The executive team and management team compensation is approved by the ceo. Compensation for this team is also researched from three different sources and then a decision is made and approved by the ceo. This is done on an annual basis.”

“Financial statements are posted in the organization's branches. Governing documents and the conflict of interest policy are available upon request.”

“Usc credit union (credit union), while sharing the name "usc", the credit union is a completely separate legal entity from the university of southern california (university). However, the credit union does have a business relationship with the university in which the staff of the credit union are leased from the university. The credit union pays the university for the salaries and benefits costs of these employees. Therefore, since the staff of the credit union are employees of usc, the usc will file all form 940's or w-2 filings for the credit union. However, for accounting purposes, and the manner in which our form 990 is completed, the cost of staff of the credit union is recorded as compensation and benefits expense on the income statement and reported in part ix, of form 990.”