7 6 5 4 3 2 1 8 - Elevations Credit Union

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supervisory committee 5 4 2 3 1 7 6 8 supervisory committee Steve Newell Chair Havish Vinnakota Vice Chair Tom Hall Secretary Bob Jobin Committee Member Brad Jones Committee Member Meow Tan Committee Member Ed Gross VP of Internal Audit Joelle Botello Internal Auditor ELEVATIONS Credit Union 2008 annual report 6 2 7 8 4 3 1 6 5
The Supervisory Committee ensures that the Credit Union adheres to established policies and conducts business in the members’ best interest. All internal and independent audits are reported to this Committee. In addition, the Committee maintains a confi dential relationship with members as their independent representatives at the Credit Union. The volunteer representatives of the Committee are: Steve Newell, Havish Vinnakota, Tom Hall, Brad Jones, Bob Jobin and Meow Tan. The Supervisory Committee’s responsibility is to verify that records are accurately maintained and to review Credit Union internal controls. This allows the Committee to determine that management activities are carried out in accordance with Credit Union policy and Federal and State Regulations. To meet Federal and State guidelines as specifi ed by the National Credit Union Administration and the State Department of Regulatory Agencies, we have retained the services of McGladrey and Pullen, Certifi ed Public Accountants, to perform an audit of the Credit Union’s fi nancial statements as of December 31, 2008. McGladrey and Pullen was selected because of their reputation and experience in auditing similar large credit unions in our asset category. The Supervisory Committee will continue to work diligently with management and staff to minimize any fi nancial or fraud risk. This Committee retains two full-time internal auditors: Ed Gross and Joelle Botello. Their jobs are to perform operational and fi nancial audits and to evaluate effectiveness of our internal controls, which includes reviewing the organization’s compliance with Credit Union policies and procedures. Ed and Joelle also plan, organize and complete audits of departments and branches, preparing audit reports for this Committee, the CEO and the executive management team. Based upon these fi ndings, the Supervisory Committee is satisfi ed that the records accurately refl ect Elevations Credit Union’s fi nancial condition and that its operations are handled in accordance with Credit Union policies and procedures. ELEVATIONS CU Credit 2008 Union annual 2008 report annual report 7 committees
Page 1 and 2: safe. sound. local. 2008 Annual Rep
Page 3 and 4: table of contents Joseph Wilson Mor
Page 5 and 6: letter from the president Dear Memb
Page 7: Pictured page 4 Eric Jones Chair Er
Page 11 and 12: community relations committee Pictu
Page 13 and 14: kids fair Hundreds of fun-loving ki
Page 15 and 16: mortgages Elevations side-stepped t
Page 17 and 18: community relations Broomfi eld Com
Page 19 and 20: “I am equally passionate about wo
Page 21 and 22: anch managers 5 4 2 3 1 Mary Ann Ka
Page 23 and 24: fi nancials Elevations Credit Union
Page 25 and 26: Independent Auditor’s Report Supe
Page 27 and 28: Elevations Credit Union Statements
Page 29 and 30: Elevations Credit Union Statements
Page 31 and 32: Elevations Credit Union Notes to Fi
Page 47 and 48: senior leadership team Gerry Agnes

7 6 5 4 3 2 1 8 - Elevations Credit Union

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