2011-11-15T13:23:59-06:00 2010-12-31 RSM MCGLADREY INC 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2010-01-01 941287157 COAST CENTRAL CREDIT UNION COAS 7074458801 2650 HARRISON AVENUE EUREKA CA 95501 JAMES SESSA 7074458801 2011-11-14 1 COLLIN F BUZZELL 6125738750 2010 2016-02-24 21:20:13Z DEAN CHRISTENSEN 2650 HARRISON AVENUE EUREKA CA 95501 38170160 0 1526 X WWW.COASTCCU.ORG X 1950 CA PROVIDING FINANCIAL SERVICES TO MEMBERS. 9 9 230 3 45306 -79793 0 0 31392398 30692572 12074732 7360182 10972 115338 43478102 38168092 133434 196212 13295213 9960266 10749383 11082542 0 0 0 10539941 12805958 34717971 34044978 8760131 4123114 852645505 881286464 760502934 784605283 92142571 96681181 COAST CENTRAL CREDIT UNION'S MISSION IS TO BE THE PRIMARY FINANCIAL INSTITUTION FOR MEMBERS BY PROVIDING HIGH QUALITY FINANCIAL SERVICES AT COMPETITIVELY FAVORABLE RATES CONSISTENT WITH MAINTAINING FINANCIAL STRENGTH. 0 0 COAST CENTRAL PROVIDES A RANGE OF DEPOSIT SERVICES TO ITS APPROXIMATELY 53,200 MEMBERS. THESE INCLUDE SAVINGS, CHECKING, MONEY MARKET, AND SAVINGS CERTIFICATE ACCOUNTS. SERVICES CAN BE ACCESSED THROUGH OUR 12 MEMBER SERVICES BRANCHES, ONLINE, OR THROUGH A LARGE NETWORK OF ATMS. WE OFFER MANY DIFFERENT LOAN PRODUCTS. THESE INCLUDE CREDIT CARDS; CONSUMER PERSONAL, AUTO, AND RV LOANS; REAL ESTATE PURCHASE, REFINANCE, AND HOME EQUITY LINES-OF-CREDIT; AND, MEMBER BUSINESS LOANS. LOAN DECISIONS ARE MADE LOCALLY, WITH KNOWLEDGE OF LOCAL CONDITIONS AND THE CREDIT UNION MEMBERS THEMSELVES. COAST CENTRAL IS ACTIVE IN SUPPORTING MANY LOCAL EVENTS AND CHARITIES. OVER $200,000 IS DONATED TO LOCAL CHARITABLE ORGANIZATIONS, SCHOLARSHIPS TO LOCAL HIGH SCHOOL GRADUATES, AND COMMUNITY PROJECTS EACH YEAR. 0 0 0 0 0 0 1 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 14809 0 230 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X JAMES SESSA 7074431138 2650 HARRISON AVENUE EUREKA CA 95501 RONALD RUDEBOCK 2.00 X X 0 0 0 PATRICIA BROWN 2.00 X X 0 0 0 ROBERT GEARHEART 2.00 X X 0 0 0 JOYCE JURY 2.00 X X 0 0 0 DIANE LEIKER 1.00 X 0 0 0 JOHN GLADDING 1.00 X 0 0 0 SAMUEL WINSTON JR 1.00 X 0 0 0 DENISE JONES 1.00 X 0 0 0 BRENDAN MCKENNY 1.00 X 0 0 0 KELLY WALSH 1.00 X 0 0 0 DEAN CHRISTENSEN 40.00 X 1014571 0 23605 JAMES SESSA 40.00 X 572947 0 13984 DEAN CHARLTON 40.00 X 185983 0 8549 GLENN POWELL 40.00 X 342299 0 10389 CHES MEIERDING 40.00 X 162453 0 8395 DENNIS HUNTER 40.00 X 161252 0 9004 ANN JADRO-BETTIGA 40.00 X 122962 0 20657 2562467 0 94583 7 0 1 0 ANTHEM BLUE CROSS PO BOX 6000 FILE 2953 SAN FRANCISCO CA 94160 HEALTH INSURANCE 946705 COX RASMUSSEN & CROSS 2830 F ST EUREKA CA 95501 MARKETING SERVICES 489852 HARLAND FINANCIAL PO BOX 535120 ATLANTA GA 30353 DATA PROCESSING 418422 INFO IMAGE 141 JEFFERSON DR MENLO PARK CA 94025 STATEMENT PROCESSOR 412260 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 ATM SERVICES 241355 11 INTEREST ON LOANS 522100 23008143 23008143 DEPOSIT & LOAN SERVICE 522100 6139541 6139541 ATM & MISC SERVICE INC 522100 1544888 1499582 45306 30692572 7355992 7355992 11000 2068 8932 8932 8932 4190 4190 4190 4190 MISC OTHER INCOME 522100 106406 106406 106406 38168092 30753672 45306 7369114 169212 27000 9960266 1625107 6028959 1818779 1051940 557757 16447 59200 1040367 924015 2193478 348785 926757 246757 3268734 609754 108356 ALL OTHER EXPENSES 3063308 34044978 10421025 9960227 402249 351964 405721184 411501788 396943 479977 16443365 7516078 8918812 8927287 418639451 441637998 8145841 8427223 852645505 881286464 4582477 5336019 44481 111572 69983132 75244873 685892844 703912819 760502934 784605283 X 0 0 0 0 92142571 96681181 92142571 96681181 852645505 881286464 X 4123114 415496 X 0 1 1 X 0 3700 0 3700 3700 1 CALIFORNIA CREDIT UNION LEAGUE PO BOX 51476 ONTARIO CA 91761 942329967 3700 ORGANIZATIONS DIRECT AND INDIRECT POLITICAL CAMPAIGN ACTIVITIES: PART I-A, LINE 1: COAST CENTRAL CREDIT UNION CONTRIBUTES TO THE CALIFORNIA CREDIT UNION LEAGUE PAC, WHICH MAKES ISSUES AFFECTING CREDIT UNIONS KNOWN TO STAFF AND MEMBERS. 0 1 973859 973859 8494912 1955863 6539049 708221 451710 256511 1736306 1281852 454454 4530067 3826653 703414 8927287 SECURITIES AVAILABLE FOR SALE 136713009 F US TREASURY BILLS 4994580 C FHLB STOCK 3572200 F FHLB DAILY 112304 F CORPORATE INVESTMENTS 276904905 F SIMPLE CD DEPOSITS 19341000 C 441637998 DIVIDENDS PAYABLE 455710 WORK IN PROCESS 919378 SHARES 702537731 703912819 PART IV, LINE 2B: THE CREDIT UNION ACTS AS CUSTODIAN ON BEHALF OF ITS MEMBER'S ESCROWED FUNDS; WHICH ARE UTILIZED TO PAY TAXES AND INSURANCE ON BEHALF OF ITS MEMBERS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: FOR THE AUDIT YEAR ENDED MARCH 31, 2010, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. 1 FRIENDS OF THE MCKINLEYVILLE LIBRARY PO BOX 2612 MCKINLEYVILLE CA 95519 680339478 501(C)(3) 10000 LIBRARY SERVICES COMMUNITY HEALTH ALLIANCE OF HUMBOLDTDEL NORTE 417 SECOND STREET SUITE 203 EUREKA CA 95501 680452012 501(C)(3) 10000 HEALTH SERVICES HUMBOLDT BOTANICAL GARDENS PO BOX 6117 EUREKA CA 95502 680243631 501(C)(3) 15316 GARDEN CONSTRUCTION SEQUOIA PARK ZOO FOUNDATION PO BOX 123 CUTTEN CA 95534 562410108 501(C)(3) 15000 ZOOLOGICAL DISPLAYS ST JOSEPH HOSPITAL 2700 DOLBEER STREET EUREKA CA 95501 941156596 501(C)(3) 50000 HOSPITAL CONSTRUCTION HUMBOLDT COUNTY HHS 2700 DOLBEER STREET EUREKA CA 95501 946000513 501(C)(3) 13000 CHILD CAR SEATS MCKINLEYVILLE COMMUNITY SERVICES DISTRICT 531 K STREET EUREKA CA 95501 941729867 501(C)(3) 12000 TOT LOT HOOPA SOCCER FIELD 3300 GLENWOOD EUREKA CA 95501 941477040 501(C)(3) 18000 SOCCER FIELD CONSTRUCTION FRIENDS OF COURAGE 130 G STREET EUREKA CA 95501 263486195 501(C)(3) 5000 HEALTH SERVICESHEALTH SERVICES TWO FEATHER NATIVE AMERICAN FAMILY SERVICES 2355 CENTRAL AVENUE STE C MCKINLEYVILLE CA 95519 680285726 501(C)(3) 11696 HEALTH SERVICES REDWOOD COMMUNITY ACTION AGENCY 904 G STREET EUREKA CA 95501 942646370 501(C)(3) 9200 HEALTH SERVICES 11 COLLEGE SCHOLARSHIPS 31 27000 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: OUR MARKETING DEPT APPROVES PAYMENT OF GRANT EXPENSES TO ORGANIZATIONS. ADMINISTRATION APPROVES SCHOLARSHIPS; FUNDS ARE SENT TO THE FINANCIAL AID OFFICES OF THE COLLEGES THE STUDENTS WILL BE ATTENDING. IF THE STUDENTS DO NOT ACTUALLY ENROLL, THE FUNDS ARE RETURNED TO US. X X X 1 1 X X X X 0 1 0 DEAN CHRISTENSEN 420415 0 192295 0 401861 0 4131 0 19474 0 1038176 0 0 0 JAMES SESSA 215351 0 314800 0 42796 0 1313 0 12671 0 586931 0 0 0 DEAN CHARLTON 153958 0 32025 0 0 0 1213 0 7336 0 194532 0 0 0 GLENN POWELL 155564 0 173850 0 12885 0 1267 0 9122 0 352688 0 0 0 CHES MEIERDING 131783 0 30670 0 0 0 1059 0 7336 0 170848 0 0 0 DENNIS HUNTER 132662 0 28590 0 0 0 1668 0 7336 0 170256 0 0 0 PART I, LINE 1A TRAVEL: BOARD MEMBERS CAN TAKE A GUEST ON UP TO TWO CONFERENCES PER YEAR. THE GUEST EXPENSES PAID BY THE CREDIT UNION SHOULD BE REPORTED AS TAXABLE INCOME BY THE BOARD MEMBER. MEMBERSHIP DUES: THE CREDIT UNION PAYS FOR MANAGEMENT EMPLOYEES' DUES TO SERVICE CLUBS SUCH AS ROTARY, KIWANIS, ETC., FOR EDUCATIONAL, NETWORKING, AND COMMUNITY SERVICE PURPOSES. PART I, LINE 4B DEAN CHRISTENSEN PARTICIPATED IN A NON-QUALIFIED 457F RETIREMENT PLAN DURING 2010, THE PLAN DISTRIBUTED $200,000 AND A CONTRIBUTION OF $50,000 WAS MADE TO THE PLAN. SUPPLEMENTAL INFORMATION PART III COMPENSATION RELATED DISCLOSURES COAST CENTRAL CREDIT UNION RETAINED MCGLADREY, A NATIONAL ACCOUNTING AND CONSULTING FIRM, TO CONDUCT A COMPREHENSIVE STUDY OF THE REASONABLENESS OF THE TOTAL COMPENSATION PACKAGE PROVIDED TO THE PRESIDENT AND CEO, DEAN CHRISTENSEN. THE STUDY CONTEMPLATED ALL FORMS OF ECONOMIC BENEFIT WHICH WERE BENCHMARKED AGAINST APPROPRIATE COMPARABLE DATA. THE STUDY CONCLUDED THAT THE TOTAL ECONOMIC BENEFIT PROVIDED TO THE PRESIDENT/CEO IS REASONABLE. EXPLANATION OF VARIOUS FORMS OF ECONOMIC BENEFIT PROVIDED TO KEY PERSONS OF COAST CENTRAL IS PROVIDED BELOW. SCHEDULE J EXPLANATION OF "BONUS & INCENTIVE COMPENSATION" THE CREDIT UNION HAS TWO INCENTIVE COMPENSATION PLANS, AN ANNUAL INCENTIVE COMPENSATION PLAN THAT ALL EMPLOYEES ARE ELIGIBLE FOR AND A LONG-TERM DEFERRED INCENTIVE COMPENSATION PLAN FOR ELIGIBLE SENIOR MANAGEMENT. GOALS ARE ESTABLISHED BY THE CREDIT UNION FOR EACH OF THESE PLANS TO PROVIDE INCENTIVE AND REWARDS TO EMPLOYEES FOR ACHIEVING RESULTS THAT IMPROVE AND STRENGTHEN THE CREDIT UNION. THE GOALS ARE ESTABLISHED FOR EACH OF THESE PLANS AT THE BEGINNING OF THE INCENTIVE PLAN PERIOD. FOR THE ANNUAL PLAN, PAYOUTS ARE MADE TO PARTICIPANTS BASED UPON ACHIEVEMENT OF THE ANNUAL GOALS. FOR THE LONG-TERM DEFERRED PLAN, THE GOALS MUST BE ACHIEVED OVER A THREE YEAR PERIOD FOR THE PARTICIPANT TO EARN A PAYOUT UNDER THE PLAN. INCLUDED IN THE PRESIDENT/CEO'S COMPENSATION, AS REPORTED ON THE W-2 AND SCHEDULE J, IS APPROXIMATELY $192,275 OF INCENTIVE COMPENSATION. THOUGH THIS AMOUNT IS PROPERLY REFLECTED IN THE PRESIDENT'S W-2 FOR 2010, ONLY A SMALL PORTION OF THIS AMOUNT, $9,156 (1/21ST), REFLECTS COMPENSATION FOR SERVICES RENDERED IN 2010, WHILE THE MAJORITY OF THIS AMOUNT, $183,119 (20/21ST) REFLECTS COMPENSATION FOR SERVICES RENDERED BY THE PRESIDENT DURING THE PERIOD OF 1990 THROUGH 2009. INCLUDED IN THE SVP OF ADMINISTRATION/CFO'S COMPENSATION, AS REPORTED ON THE W-2 AND SCHEDULE J, IS APPROXIMATELY $314,800 OF INCENTIVE COMPENSATION. THOUGH THIS AMOUNT IS PROPERLY REFLECTED IN THE CFO'S W-2 FOR 2010, ONLY A SMALL PORTION OF THIS AMOUNT, $10,855 (1/29TH), REFLECTS COMPENSATION FOR SERVICES RENDERED IN 2010, WHILE THE MAJORITY OF THIS AMOUNT, $303,945 (28/29TH), REFLECTS COMPENSATION FOR SERVICES RENDERED BY THE CFO DURING THE PERIOD OF 1981 THROUGH 2009. INCLUDED IN THE VP OF MEMBER LOAN SERVICES' COMPENSATION, AS REPORTED ON THE W-2 AND SCHEDULE J, IS APPROXIMATELY $32,025 OF INCENTIVE COMPENSATION. THOUGH THIS AMOUNT IS PROPERLY REFLECTED IN HIS W-2 FOR 2010, ONLY A SMALL PORTION OF THIS AMOUNT, $1,392 (1/23RD), REFLECTS COMPENSATION FOR SERVICES RENDERED IN 2010, WHILE THE MAJORITY OF THIS AMOUNT, $30,633 (22/23RD), REFLECTS COMPENSATION FOR SERVICES RENDERED BY HIM DURING THE PERIOD OF 1987 THROUGH 2009. INCLUDED IN THE VP OF INFORMATION SERVICES' COMPENSATION, AS REPORTED ON THE W-2 AND SCHEDULE J, IS APPROXIMATELY $173,850 OF INCENTIVE COMPENSATION. THOUGH THIS AMOUNT IS PROPERLY REFLECTED IN HIS W-2 FOR 2010, ONLY A SMALL PORTION OF THIS AMOUNT, $5,795 (1/30TH), REFLECTS COMPENSATION FOR SERVICES RENDERED IN 2010, WHILE THE MAJORITY OF THIS AMOUNT, $168,055 (29/30TH), REFLECTS COMPENSATION FOR SERVICES RENDERED BY HIM DURING THE PERIOD OF 1980 THROUGH 2009. INCLUDED IN THE VP OF MEMBER SERVICES' COMPENSATION, AS REPORTED ON THE W-2 AND SCHEDULE J, IS APPROXIMATELY $30,670 OF INCENTIVE COMPENSATION. THOUGH THIS AMOUNT IS PROPERLY REFLECTED IN HIS W-2 FOR 2010, ONLY A SMALL PORTION OF THIS AMOUNT, $1,278 (1/24TH), REFLECTS COMPENSATION FOR SERVICES RENDERED IN 2010, WHILE THE MAJORITY OF THIS AMOUNT, $29,392 (23/24TH), REFLECTS COMPENSATION FOR SERVICES RENDERED BY HIM DURING THE PERIOD OF 1986 THROUGH 2009. INCLUDED IN THE VP OF MARKETING'S COMPENSATION, AS REPORTED ON THE W-2 AND SCHEDULE J, IS APPROXIMATELY $28,590 OF INCENTIVE COMPENSATION. THOUGH THIS AMOUNT IS PROPERLY REFLECTED IN HIS W-2 FOR 2010, ONLY A SMALL PORTION OF THIS AMOUNT, $1,906 (1/15TH), REFLECTS COMPENSATION FOR SERVICES RENDERED IN 2010, WHILE THE MAJORITY OF THIS AMOUNT, $26,684 (14/15TH), REFLECTS COMPENSATION FOR SERVICES RENDERED BY HIM DURING THE PERIOD OF 1995 THROUGH 2009. SCHEDULE J EXPLANATION OF "OTHER REPORTABLE COMPENSATION" THE CREDIT UNION HAS ESTABLISHED A 401K RETIREMENT PLAN FOR ALL ELIGIBLE EMPLOYEES. IT HAS ALSO PUT IN PLACE OTHER PLANS AND FUNDING PAYMENTS TO PROVIDE A REASONABLE TARGETED RETIREMENT BENEFIT FOR HIGHER PAID EMPLOYEES BECAUSE OF THE LIMITATIONS UNDER QUALIFIED PLANS SUCH AS OUR 401K PLAN, WHICH CREATES A REVERSE DISCRIMINATION EFFECT. THE CREDIT UNION PROVIDES IN LIEU PAYMENTS TO AN INDIVIDUAL ONCE THE QUALIFIED LIMIT IS REACHED EQUAL TO WHAT OTHERWISE WOULD HAVE BEEN CONTRIBUTED TO THE PLAN IF NOT FOR THE LIMITATION. THE CREDIT UNION HAS ALSO ESTABLISHED, TO HELP REACH THE TARGETED RETIREMENT BENEFIT, A SPLIT DOLLAR LIFE PLAN AND A SUPPLEMENTAL RETIREMENT PLAN FOR THE BENEFIT OF THE PRESIDENT/CEO. UNDER IRS REGULATION THE SPLIT DOLLAR LIFE PLAN TRIGGERS TAXABLE IMPUTED INTEREST THAT IS ADDED TO THE W2 OF THE EXECUTIVE WITH NO CASH BEING PAID TO THE EXECUTIVE. THE CREDIT UNION PROVIDES AN ASSISTANCE PAYMENT TO THE EXECUTIVE TO OFFSET THE INCOME TAXES DUE BECAUSE OF THE IMPUTED INTEREST. THE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN PROVIDES FOR ANNUAL CONTRIBUTIONS TO THE PLAN BY THE CREDIT UNION AND ANNUAL PAYMENTS TO THE EXECUTIVE WITH A FINAL PAYMENT FROM THE PLAN AT THE TARGETED RETIREMENT DATE. INCLUDED IN THE PRESIDENT/CEO'S COMPENSATION, AS REPORTED ON THE W-2 AND SCHEDULE J, IS APPROXIMATELY $401,861 OF "OTHER COMPENSATION", WHICH INCLUDES APPROXIMATELY $377,454 OF BENEFIT ATTRIBUTABLE TO THE RETIREMENT PLANS DESCRIBED ABOVE. THOUGH AMOUNTS ATTRIBUTABLE TO THESE BENEFITS IS PROPERLY REFLECTED IN THE PRESIDENT'S W-2 FOR 2010, ONLY A SMALL PORTION OF THIS AMOUNT, $17,974 (1/21ST), REFLECTS COMPENSATION FOR SERVICES RENDERED IN 2010, WHILE THE MAJORITY OF THIS AMOUNT, $359,480 (20/21ST), REFLECTS COMPENSATION FOR SERVICES RENDERED BY THE PRESIDENT DURING THE PERIOD OF 1990 THROUGH 2009. INCLUDED IN THE VP OF INFORMATION SERVICE'S COMPENSATION, AS REPORTED ON THE W-2 AND SCHEDULE J, IS APPROXIMATELY $12,885 OF "OTHER COMPENSATION", WHICH INCLUDES APPROXIMATELY $12,885 OF BENEFIT ATTRIBUTABLE TO THE RETIREMENT PLANS DESCRIBED ABOVE. THOUGH AMOUNTS ATTRIBUTABLE TO THESE BENEFITS IS PROPERLY REFLECTED IN THE HIS W-2 FOR 2010, ONLY A SMALL PORTION OF THIS AMOUNT, $430 (1/30TH), REFLECTS COMPENSATION FOR SERVICES RENDERED IN 2010, WHILE THE MAJORITY OF THIS AMOUNT, $12,455 (29/30TH), REFLECTS COMPENSATION FOR SERVICES RENDERED BY HIM DURING THE PERIOD OF 1980 THROUGH 2009. INCLUDED IN THE SVP OF ADMINISTRATION/CFO'S COMPENSATION, AS REPORTED ON THE W-2 AND SCHEDULE J, IS APPROXIMATELY $42,795 OF "OTHER COMPENSATION", WHICH INCLUDES APPROXIMATELY $42,795 OF BENEFIT ATTRIBUTABLE TO THE RETIREMENT PLANS DESCRIBED ABOVE. THOUGH AMOUNTS ATTRIBUTABLE TO THESE BENEFITS IS PROPERLY REFLECTED IN THE HIS W-2 FOR 2010, ONLY A SMALL PORTION OF THIS AMOUNT, $1,476 (1/29TH), REFLECTS COMPENSATION FOR SERVICES RENDERED IN 2010, WHILE THE MAJORITY OF THIS AMOUNT, $41,319 (28/29TH), REFLECTS COMPENSATION FOR SERVICES RENDERED BY HIM DURING THE PERIOD OF 1981 THROUGH 2009. SCHEDULE J EXPLANATION OF "RETIREMENT AND OTHER DEFERRED COMPENSATION" INCLUDED IN THE RETIREMENT BENEFITS PROVIDED BY THE CREDIT UNION, AND AS REPORTED IN COLUMN (C) OF SCHEDULE J, ARE BENEFIT AMOUNTS ATTRIBUTABLE TO THE CREDIT UNION'S 401(K) PLAN. THE AMOUNT OF 401(K) BENEFIT INCLUDED FOR EACH PERSON LISTED IN SCHEDULE J REFLECTS THE AMOUNT OF ECONOMIC BENEFIT ATTRIBUTABLE TO 2010. ALSO INCLUDED IN COLUMN (C), IN THE CASE OF THE PRESIDENT, IS A BENEFIT AMOUNT ATTRIBUTABLE TO THE CREDIT UNION'S 457(F) PLAN. THE AMOUNT OF CONTRIBUTION MADE BY THE CREDIT UNION DURING 2010 TO THE PLAN IS $50,000. THE ACTUAL ECONOMIC BENEFIT OF THE $50,000 CONTRIBUTION MAY NOT BE REALIZED/RECEIVED BY THE PRESIDENT DUE TO MARKET FLUCTUATIONS THAT MAY OCCUR BETWEEN THE DATE THE CONTRIBUTION IS MADE AND THE DATE THE PRESIDENT ACTUALLY RECEIVES THE 457(F) PLAN BENEFIT. THE AMOUNT OF ECONOMIC BENEFIT TO THE PRESIDENT INCLUDED IN COLUMN (C) OF SCHEDULE J, WITH RESPECT ONLY TO THE 457(F) PLAN BENEFIT, IS $2,381 AND THE REMAINING ECONOMIC BENEFIT OF $1,750 IS ATTRIBUTABLE TO THE 401(K) PLAN. TOGETHER, THE AMOUNTS OF $2,381 AND $1,750 ($4,131) REFLECT THE ECONOMIC BENEFIT OF THE 457(F) AND 401(K) CONTRIBUTIONS THAT ARE ATTRIBUTABLE TO SERVICES PROVIDED BY THE PRESIDENT DURING 2010 (1/21ST), WHILE THE REMAINING PORTION OF THESE BENEFITS ($82,619 OR 20/21ST) REFLECTS COMPENSATION FOR SERVICES RENDERED BY THE PRESIDENT DURING THE PERIOD OF 1990 THROUGH 2009. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11 THE ACCOUNTING DEPARTMENT PREPARES THE INFORMATION WHICH IS THEN REVIEWED BY SENIOR MANAGEMENT. A COPY OF FORM 990 WILL BE PRESENTED TO THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION HAS A CONFLICT OF INTEREST POLICY FOR ITS STAFF, OFFICIALS, AND THE BOARD OF DIRECTORS. CONFLICT OF INTEREST BY EMPLOYEES WHEN HANDLING MEMBER ACCOUNTS IS MONITORED BY THE COMPUTER. BOARD MEMBERS CANNOT VOTE ON MATTERS WHERE THERE IS A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 ANNUALLY DURING THE BUDGET PROCESS, THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE COMPENSATION RANGES FOR EACH POSITION. THESE RANGES ARE DEVELOPED BY THE HUMAN RESOURCES DEPARTMENT USING COMPARABLE DATA SPECIFIC TO THE CREDIT UNION INDUSTRY. THE CEO SALARY IS BY CONTRACT AND REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES OF ALL OFFICES. ALL OTHER REQUESTS MUST BE PRESENTED IN WRITING TO THE BOARD OF DIRECTORS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: CHANGE IN UNREALIZED 415,496. TOTAL TO FORM 990, PART XI, LINE 5: 415,496.