Blue Flame Credit Union

“The 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 be an employee or a family member of an employee of Mobile Gas Service Corporation.”

“The members of Blue Flame Credit Union elect its board of directors at their annual meeting. The members of the credit union are informed of the board positions which are up for election by the nominating committee. The members then proceed to vote to fill the open board positions. In order for a board member to be elected, a quorum must be present at the meeting. Board of director members serve a term of three years.”

“Certain decisions of the governing body are subject to approval by the credit unions members. Such decisions include changes to the credit unions charter or bylaws.”

“Upon completion of the credit unions form 990, the return is presented to the board at a board of directors meeting. At the 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 at a staff meeting. At this meeting, the staff members are free to ask any questions regarding this policy. It is the responsibility of the staff and directors to immediately notify the credit union manager of any potential conflict of interest.”

“Compensation for officers, key employees and top management officials is determined on a yearly basis. Before compensation is set, the board of directors examines the type and amount of work performed by the employees while taking into account the credit unions prior year income. Additionally, the board utilizes the League of Southeastern Credit Unions salary survey for compensation comparison purposes.”

“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 League of Southeastern Credit Unions and the Alabama Credit Union Administration examine the financial statements and data of the credit union. During the examinations, Blue Flame Credit Union provides the independent parties with various financial and procedural information and reports.”