Due Diligence

Built for institutional scrutiny.

Everything your compliance team, auditor, and examiner need to evaluate the LifeNotes™ Trust. Full due diligence package available upon NDA execution.

Trust Infrastructure

Separation of roles. Institutional-grade governance.

Independent AuditorDoeren MayhewAnnual audits every year since the trust's 2022 inception. One of the largest CPA firms for credit unions.
TrusteeCapaxa LLCIndependent trustee overseeing trust governance and compliance.

Available Materials

What's included in the due diligence package?

The LifeNotes due diligence package — annual Doeren Mayhew audits, the Capaxa LLC trustee agreement, the Pooling & Servicing Agreement, and examiner-ready compliance materials — is released to credit unions and counsel under a mutual NDA. Below is an overview of what's included.

Independent Audit Reports

Annual audited financial statements prepared by Doeren Mayhew, one of the largest CPA firms specializing in credit unions. Covers trust assets, liabilities, income, distributions, and accounting treatment.

  • ✓Annual audited financial statements
  • ✓Auditor opinion letters
  • ✓Management representation letters
  • ✓Historical performance data

Pooling & Servicing Agreement

The governing document for the LifeNotes Trust. Defines contribution mechanics, certificate terms, distribution waterfall, servicing obligations, and investor protections.

  • ✓Full PSA document
  • ✓Summary term sheet
  • ✓Distribution waterfall mechanics
  • ✓Servicing standard definitions

Trust Documents

Structural and governance documents for the trust entity, including trustee agreements, custody arrangements, and entity formation documents.

  • ✓Trust agreement
  • ✓Trustee designation (Capaxa LLC)
  • ✓Custody agreement
  • ✓Entity formation and organizational documents

Compliance & Regulatory Materials

Documentation supporting permissibility and examiner-ready summaries for state and federal reviews.

  • ✓Independent audit summary
  • ✓Permissibility analysis
  • ✓Examiner-ready overview package

Continue exploring

Frequently asked questions

Definitions, exit terms, reporting, and trust governance.

For Boards

Governance framing and 3-meeting approval framework.

For CEOs & CFOs

Financial impact, yield improvement, and balance-sheet effects.

The 5-step process

Education → design → due diligence → implementation → service.

NDA Required

Full due diligence package available upon NDA execution.

To protect the interests of all trust participants, detailed financial, structural, and performance documents are shared under mutual non-disclosure. Contact us to initiate the process.

Request Due Diligence Package