Mobile Government Employees Credit Union

“Mobile government employees credit union is a non-profit financial institution that is owned and operated by its members. In order to become a member of the credit union, an individual must either be a current or former mobile, alabama district employee, an employee with the u.s. Army corp of engineers or a family member of any of these persons.”

“The credit union's membership elects board of directors at their annual meeting as vacancies arise. During the election process, the current board provides a list of names of qualified individuals to fill vacant positions. At this time, members are also given the opportunity to nominate other candidates they deem fit. Board members serve three year terms. The terms of the board members are staggered so that continuity will be maintained to ensure a stable governing body.”

“The members of mobile government employees credit union vote on any changes to the credit union's by-laws.”

“The credit union does not have committees with the responsibility to act on behalf of the governing body.”

“Upon completion of the credit union's form 990, the return is presented to the board at a board of directors meeting. At this meeting, the board members review the tax return and are free to ask any questions or engage in discussion regarding any topic covered in the return. Once the governing body has reviewed and approved the form 990, the return is filed with the internal revenue service.”

“Credit union staff review the conflict of interest policy each year with the credit union's manager. At this meeting, the staff members are free to ask any questions regarding this policy. The credit union manager constantly monitors the staff to make sure everyone is in compliance with the policy. It is the responsibility of staff or directors to immediately notify the credit union manager of any potential conflict of interest. Board members complete an annual conflict of interest disclosure statement.”

“Compensation for officers, key employees & top management officials is determined on a yearly basis during the board's annual meeting. Compensation increases are linked to the corp of engineers cost-of-living increases. The manager abstains from voting on his salary as a matter of policy.”

“The credit union makes available its financial statements via the ncua website which can be found at www.ncua.gov. Other documents are available to the public upon request.”

“On a yearly basis, the credit union has an annual examination of its financial data by examiners from the alabama credit union administration. In addition to this annual examination, the credit union also has a supervisory report performed each year by an independent party. During both examinations, the mobile government employees credit union provides the independent parties with various financial and procedural information to be examined.”

“Mobile government employees credit union po box 2288 mobile, al 36628 employer identification number: 63-0317160 for the year ending december 31, 2015 mobile government employees credit union is making the election to capitalize repair and maintenance costs under reg. Sec. 1.263(a)-3(n).”

“Mobile government employees credit union po box 2288 mobile, al 36628 employer identification number: 63-0317160 for the year ending december 31, 2015 mobile government employees credit union is making the de minimis safe harbor election under reg. Sec. 1.263(a)-1(f).”