St. Michael's Credit Union held its Annual General Meeting (AGM) in Blackrock National Hurling Club on Monday 13th of February. There was a good attendance at this year's AGM. A wide range of topics regarding the credit union's current situation and future were discussed in-depth. At the AGM a member Loan Interest Rebate of 10% and also a Share Dividend of 0.5% were approved.
The AGM Discussion
These Annual General Meetings are an integral part of credit unions globally providing a forum for members to have their say. A key principle is the "One Member, One Vote" that takes place predominantly at AGMs. Thank you to Brian Hayes of Moore Stephens who presented on the wider Irish Credit Union environment and the implications for St. Michaels.
On the night the following agenda points were covered extensively over the course of the evening;
- Acceptance of proxies (if any by the Board of Directors).
- Ascertainment that a quorum is present.
- Adoption of Standing Orders.
- Reading and approval of the minutes from the last Annual General Meeting held 15th December 2015 and Special General Meeting held 3rd February 2016.
- Report from the Board of Directors.
- Board Oversight Committee Report.
- Presentation to Members.
- Proposed Rule Amendments.
- Appointment of Tellers.
- Report of the Nomination Committee.
- Balloting - Election of Auditor, Election to fill vacancies on the Board Oversight Committee and Board of Directors.
- Report of the Auditor.
- Consideration of Accounts 2016.
- Declaration of dividend and rebate of loan interest.
- Membership Officer Report.
- Report of the Credit Committee.
- Credit Control Committee Report.
- The announcement of Election Results.
- Any other Business.
- Adjournment or close of the meeting.
There were refreshments provided after the AGM agenda had been completed. Many members remained for some time to chat. Taking the opportunity to catch up with fellow members or to discuss the AGM. We would like to congratulate the 15 members who won cash prizes in the draw.
A Loan Interset Rebate of 10% and a Share Dividend of 0.5% were approved on the night.
If you would like a copy of the Annual Report and Financial Statement can be downloaded here. Copies are available in our offices. Ask a member of staff for a copy next time you're in the office.