Annual General Meeting (AGM) of Credit Union Baywide (CUB)
Our 2020 AGM was held on Wednesday 28 October in Rotorua.
Members had the option of attending the event in person or virtually, using Zoom.
No voting was conducted on the night except for procedural matters such as acceptance of the 2019 AGM minutes and the adoption of the Financial Statements (which were approved). All voting on proposed resolutions was conducted electronically prior to the AGM.
Amendments to the Rules
The following Rules amendments were approved:
1. Board Appointed Directors - Rules Amendment
To approve a new Rule to allow the board to appoint one Director - without the requirement for that person to be elected by members (Board Appointed Director).
2. Number of Elected Directors - Rules Amendment
If resolution 1 passed, reduce the number of member-elected Directors from seven to six, meaning the Board would be composed of six elected Directors and, is appointed, on Board Appointed Director.
3. Maximum Director Term
To approve a new Rule to limit the number of years a Director can serve on the Board to a maximum of 12 years.
4. Other Rules amendments as outlined in the supplementary information section of the Notice of Meeting, click here to view.
Members approved to reduce the total pool of Director remunerations to a maximum of $330,000.
Appointment of Directors
The following Directors were elected for a 3 year term:
Appointment of New Board Chair
Louise Edwards has been appointed as Chair of the Credit Union Baywide Board. Click here to read further details of the appointment and Iain Taylor's retirement.