BALLAGHADERREEN and DISTRICT CREDIT UNION LIMITED Main Street, Ballaghaderreen, Co
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BALLAGHADERREEN AND DISTRICT CREDIT UNION LIMITED Main Street, Ballaghaderreen, Co. Roscommon. Phone: 094 9860522 Email: [email protected] Web: www.ballaghcu.com REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30TH, 2020 OFFICE HOURS Monday, Tuesday & Thursday: 10.00am to 1.30pm, & 2.30pm to 5.45pm Wednesday: 10.00am to 1.15pm Friday: 10.00am to 1.30pm, 2.30pm to 5.00pm, & 5.30pm to 7.45pm. SUPPORTING THE LOCAL COMMUNITY FREE PRIZES AMONG MEMBERS ATTENDING THE VIRTUAL AGM: 1ST PRIZE - €200 2ND PRIZE - €100; 3RD PRIZE - €50 VOUCHERS FOR LOCAL BUSINESS OF YOUR CHOICE WILL BE GIVEN AS CASH ALTERNATIVE NOTICE AND FORMAL INVITATION OF THE ANNUAL GENERAL MEETING Tuesday, 20th April 2021 at 8pm Virtual AGM 2020 – Notice is hereby given that the 37th Annual General Meeting of Ballaghaderreen & District Credit Union Limited will take place online on Tuesday, 20th April 2021 at 8pm. Pre-registration is required by members. Register at [email protected] . An email with instructions and log in details will be emailed to registered members only. All members are invited to attend. Denise Deery Secretary, Roscommon Credit Union Ltd. Due to the nature of COVID-19 and the restrictions in place for public health reasons on organised indoor gatherings in the Republic of Ireland, Credit Unions have been given permis- sion to have their AGMs online. Please note the following in relation to this Virtual AGM: • Members can email [email protected] to receive a registration link - if possible, use the email you have registered with Ballaghaderreen Credit Union for this. • The “Zoom” platform will be used to allow this virtual AGM – each member will be provided with their own unique access link – do not share this with others to allow you to be identified at the Virtual AGM. • Members should register by 8:00pm on Monday 19th of April, 2021. You may have to provide proof of your identity / membership of the credit union including your membership number; • Please submit any questions via email before the AGM. Questions may also be asked on the night via the “Q&A” function in Zoom; • Voting will take place during the Virtual AGM – again this will use the Zoom Platform; and, • Preferably any questions and comments should be submitted before the meeting, but members will also be able to put these forth during the meeting via the Zoom Platform. Using Zoom: Zoom has a very simple user interface and has become very familiar to the public during the recent COVID-19 event. Zoom ensures security as each registered member will be sent an induvial link and settings will ensure each person can only access from one device. A passcode will also be assigned for the meeting. Video tutorial for all features of Zoom can be accessed at: https://support.zoom.us/hc/en-us/articles/206618765-Zoom-Video-Tutorials Online Voting: Voting will take place during the virtual AGM via the Zoom Platform. Thus, you will need to register for and attend the webinar to vote. At the appropriate time in the agenda, the poll will be launched and will appear on your screen. The votes will then be collated and will be announced by the chair before the end of the virtual AGM. Company Information Directors Eoin Buckley – Chairman Kenneth McDonnell Jean Anderson – Vice Chairman Gerald Duffy Denise Deery – Secretary Mary Roddy James Dooney Board Oversight Committee David Wright Deceased Colm Flannery Jackie Henry Michael Tully - Co Opted Risk & Compliance Officer Michael O’Grady & Co, Registered Auditors & Accountants. Internal Auditor: Tony Reilly, Reilly & Co, Chartered Certified Accountants. Registered Number 406 CU. Registered Office Main Street Solicitors: Fahy Neilan & Co. Ballaghaderreen Ballaghadereen Co Roscommon. Co. Roscommon. Auditors RBK, RBK House, Irishtown, Athlone, Co. Westmeath. Bankers Bank of Ireland, Ballaghaderreen, Co. Roscommon. INVOCATION Lord, make me an instrument of Thy peace Where there is hatred, let me sow love; Where there is injury, pardon; Where there is doubt, faith; Where there is despair, hope; Where there is darkness, light; And where there is sadness, joy; O divine Master, grant that I might not so much seek to be consoled as to console; to be understood as to understand; to be loved as to love; for it is in giving that we receive, it is in pardoning that we are pardoned, and it is in dying that we are born to eternal life. 1 Agenda BALLAGHADERREEN AND DISTRICT CREDIT UNION LIMITED Virtual AGM 20th April 2021 1. The acceptance by the Board of Directors of the authorised representatives of members that are not natural persons 2. Ascertainment that a quorum is present 3. Adoption of Standing Orders. 4. Reading & approval (or correction) of the minutes of previous A.G.M. 5. Chairman’s Address & Report of the Board of Directors. 6. Auditors Report. 7. Consideration of the accounts 8. Declaration of Dividend/Loan Interest Rebate 9. Report of the Board Oversight Committee 10. Report of the Credit Committee Report. 11. Report of the Credit Control Committee. 12. Report of the Membership Committee. 13. Report of the Nomination Committee. 14. Appointment of Tellers. 15. Election to fill vacancies on the Board of Directors. 16. Election to fill vacancies on the Board Oversight Committee. 17. Election of Auditor 18. Announcement of Election Results 19. Amendments to Rules 20. Any Other Business 21. Adjournment or Close Meeting. 2 STANDING ORDERS 1 - VOTING Each member shall be entitled to one vote irrespective of his / her shareholding, in accordance with section 82(2) of the Credit Union Act, 1997 (as amended). 2 - 3 ELECTION PROCEDURE 2 Elections to the Board of Directors, to the Board Oversight Committee and the position of Auditor shall be by majority vote and by secret ballot. Due to the fact that this year’s AGM will be a virtual meeting, voting on motions and elections will be by electronic means. 3 Voting will take place via electronic means during the virtual AGM. Members must attend the webinar to vote. The results will be reviewed by the tellers and announced by the chairman. 4 - 11 MOTIONS 4 Due to the specific difficulties we are facing in holding an Annual General Meeting this year due to COVID-19, the purpose of this year’s AGM is to deal with the essential business of the credit union. This includes reporting to members on the financial status of the credit union, declare a dividend / interest rebate, and elect officers. While all items in the usual Order of Business will be referenced, there will be less interaction than in person. Members will be welcome to submit questions to the board in advance of the AGM. Questions can also be put forth via the “Q&A”function of Zoom during the AGM. The board will address these during the AGM, and same will be included in the minutes of the AGM. 5 Attendees may be elevated to a participant and can then address the AGM and items may be proposed and seconded via the“Raise Hand”function in Zoom. 6 All motions from the floor of the AGM must be proposed and seconded by members present at the AGM and moved by the proposer. If the proposer is absent when the motion is called, the motion shall be deemed to have failed. 7 A proposer of a motion may speak for such period as shall be at the discretion of the chair of the meeting and shall have the right of reply before the motion is put to the meeting for a vote. 8 In exercising his/her right of reply, a proposer may not introduce new material. 9 The seconder of a motion shall have such time as shall be allowed by the chair to second the motion. 10 Members are entitled to speak on any such motion and must do so through the chair. All speakers to any motion shall have such time as shall be at the discretion of the chair. 11 The chair shall have the absolute right to decide at any time when a motion has been sufficiently discussed and may put the motion to the meeting giving the proposer the right of reply before doing so. 12 - 17 MISCELLANEOUS 12 The chair of the board of directors shall be the chair of any general meeting, except where he/she is not available, in which case it shall be the vice-chair, except where he/she is not available, in which case the board shall decide amongst themselves who shall act as chair of any general meeting. 13 The chair may at his/her discretion, extend the privilege of the floor to any person who is not a member. 14 Matters not covered by the Agenda may be introduced under“Other Business”at the discretion of the chair. 15 The chairman’s decision on any matter relating to these Standing Orders or interpretation of same shall be final. 16 No member shall have more than one vote on each question at any general meeting of the credit union or any adjournment thereof irrespective of his/her shareholding or the number of accounts in his/her name in the credit union provided, however, that except in voting at elections, the presiding member shall have a second or casting vote in the event of equality of voting. Voting by proxy shall be allowed only when a member other than a natural person votes through a representative, who is a member of the group, duly authorised in writing for that purpose and accepted as such by the board of directors. 17 Any matter to be decided upon by vote at the AGM shall, unless otherwise expressly provided for by law or the rules, be decided upon by simple majority.