Cooperative Center Federal Credit Union

Nominating Committee Report The Nominating Committee for the Cooperative Center Federal Credit Union Board of Directors has completed the vetting and selection process of the applicant who submitted full and complete information in the application packet, as well as the two (2) incumbent candidates. The background check and credit assessment have been ordered. The credit assessment was returned and is cleared. The background check is pending return. The name of the candidate who was voted by the Nominating Committee to be an "eligible candidate," along with the two (2) incumbents, are put forth to stand for election to the Cooperative Center FCU Board of Directors, as they appear below (in alphabetical order): 1. Leung, Michael 2. Palmer, Jesse 3. Pearson, George For more information about the application process, vetting and voting per candidate, please contact Willie Phillips, Chair of the Nominating Committee: Cooperative Center Federal Credit Union Attention: Willie Phillips, Nominating Committee Chair 2001 Ashby Avenue, Berkeley, CA 94703 Willie Phillips, Nominating Committee Chair; Hemby Whitten, Committee Member; Alejandro Soto-Vigil, Committee Member Supervisory Committee Report The primary responsibilities of the Supervisory Committee (SC) are to ensure the financial condition of the credit union is accurately and fairly represented in the financial statements and that the credit union is operating in a safe and sound manner. This is completed primarily through the coordination of the annual Supervisory Audit and the Member Account Verifications, which are completed not less frequently than once every two years. To fulfill these obligations for the period June 30, 2016, the SC engaged the services of Turner, Warren, Hwang and Conrad to perform the Agreed Upon Procedures (AUP) Supervisory Audit and Verification of Member Deposits and Loans processes. Along with reporting the completion of these audits and any exceptions to the Board of Directors, it is the duty of the SC to report to the membership. Thus, we respectfully submit to you that these audits, the results of which support that the credit union is operating in a way that is safe, sound and secure, have been completed. The SC is also tasked with ensuring management practices and procedures are sufficient to safeguard member assets. This is done through the preparation and execution of an annual SC Work Plan, which may include supplementary audits performed by the SC or by a professional audit firm. To stay abreast of the changing credit union regulatory environment, we familiarize ourselves with credit union policies and participate in ongoing training including required annual Bank Secrecy Act (BSA) certifications. Finally, it is our function to respond to members should you have unresolved questions or concerns regarding account discrepancies or governance of the credit union. Should you require the assistance of the SC, you may contact us directly via our private USPO Box or email: Supervisory Committee, Cooperative Center FCU Email: SupervisoryCommittee@coopfcu.org P.O. Box 3445, Berkeley, CA 94704 If, after using the above steps, you believe that your concerns have not been fully addressed, the National Credit Union Administration's (NCUA) Consumer Assistance Center is also available to assist you. They may be contacted at: National Credit Union Administration, Email: ConsumerAssistance@ncua.gov Office of Consumer Protection 1775 Duke Street, Alexandria, VA 22314 At your service, The Cooperative Center FCU Supervisory Committee: R eginald Hairston, Christina Oatfield, Grace Streltzov, Tom White 8

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