SF Fire Credit Union

The Supervisory Committee independently evaluates the soundness of SF Fire Credit Union’s operations and activities, ensuring that management implements sound internal controls and maintains practices and procedures that adhere to accepted general accounting principles. In doing so, they carry out the following primary responsibilities:

• Protection of members’ funds and interests
• Safeguarding of assets
• Compliance with regulations, policies and procedures
• Reliability of financial records

The Committee meets regularly to review and discuss internal controls as well as auditing matters. It also retains an independent accounting firm to perform an annual financial audit and issue certified financial statements as it relates to the overall financial condition of SF Fire Credit Union.

The Supervisory Committee members also serve on other standing and special committees at the request of the Board of Directors. Each member reviews specific areas in executing his or her responsibilities to the membership at large.

Committee Members are:

• Janet L. Brock
• John L. Diluzio
• Bill Madsen
• Martin McGuinn
• Michael R. Moran

Based on the results of the 2007 annual audit performed by Certified Public Accountants- McGladrey and Pullen, and other audits conducted by various agencies, we conclude that SF Fire Credit Union has adequate financial control and is financially sound. Copies of these audits are available to members upon request.

Martin McGuinn Co-Chairman

Michael R. Moran Co-Chairman