Purpose

The purpose of the AGM is to receive the reports and present the voting results on the Annual Report of the Board of Directors and President & CEO; the Report of the Treasurer on the Financial Statements; the Report of the Auditor; the Report of the Audit Committee; the Report of the Nominating Committee; the Appointment of the Auditor; the Election of Directors; the Special Business placed before the Members regarding amendments to the Credit Union’s General Bylaw; and to transact such other business as may properly come before an AGM of Members.

All reports will be provided electronically to registered Members in advance and all voting will occur in advance of the meeting using the online voting platform SimplyVoting.

Voting will open on Friday, November 1, 2024, at 9:01 a.m. and close at 4:59 p.m. on Wednesday, November 20, 2024.

Special Business

The Board of Directors will be recommending to the Membership of the Credit Union the following amendments to its General Bylaw No. 1:

1. Article 4.01 be amended to include the requirement for one (1) three-year term following the 2024 AGM, representation on the Board for one (1) position from the Greater Toronto Area and one (1) position from Northern Ontario, which will expire at the 2027 AGM, at which point there will no longer be geographic representation for those regions.
2. Article 5.05 be amended to formalize the process of the Board of Directors to elect annually at the first meeting after the AGM, a Risk Committee to be composed of at least three (3) Members of the Board, and to renumber subsequent subsections of Article Five (5) to accommodate new Article 5.05;

By way of a special resolution, the Board of Directors will be recommending the amended Credit Union Bylaw No. 1 to the Membership. 

Election of Directors

This year, there are five (5) vacancies on the Credit Union’s Board of Directors. All positions are for a three-year term. 

The Nominating Committee of the Board of Directors has successfully completed its role in providing a sufficient number of applicants to fill the five (5) positions.

The following six (6) Members stand and are presented to the Membership for election to the Board of Directors of the Credit Union:

Members will be asked to receive the report of the Nominating Committee and to elect five (5) candidates as follows:

1. In compliance with Bylaw No. 1, Article 4.01, the requirement that at least one (1) Director shall at all times be resident or employed in the Regional Municipality of Waterloo, elect by acclamation, James McCormack to the position of Director representing the Regional Municipality of Waterloo;
2. Subject to Membership approval of the amendment to Bylaw No. 1 Article 4.01, as stated above as part of Special Business: elect by acclamation, Ernest (Murray) Lindo to the position of Director representing the Greater Toronto Area;
   • elect one (1) candidate from the following, Rox-Anne Moore or David Moscall, to the position of Director representing Northern Ontario, with the candidate receiving the greatest number of Member votes being the successful candidate;
   • elect by acclamation, Derek Motloch and Robert (Bob) Nesbitt, to the positions of General Director;
   • If the Membership does not approve the proposed Bylaw amendment to Article 4.01, as stated above as part of Special Business, elect four (4) candidates from the following:
     Ernest (Murray) Lindo / Derek Motloch / Robert (Bob) Nesbitt / Rox-Anne Moore / David Moscall
     to the positions of General Director, and the four (4) candidates with the greatest number of Member votes will be the successful candidates.

Voting will take place online with the results presented to the Membership at the AGM on November 27, 2024.  No further nominations will be accepted.  

DATED THE 1st day of November, 2024        

BY ORDER OF THE BOARD

Susan Stockwell Andrews
Corporate Secretary

1. The proposed amendments of the Credit Union’s General Bylaw are subject to approval as special resolutions of the Membership of the Credit Union. A special resolution cannot be amended. Copies of the proposed bylaw amendments are available by contacting Susan Stockwell Andrews, Corporate Secretary at corporatesecretary@wfcu.ca.
2. As directed and as stated in the Credit Unions and Caisses Populaires Act, 2020, “the credit union shall make copies of the audited financial statements, the auditor’s report and the audit committee report available for inspection, by any member, at the meeting at which the statements and reports are to be placed before the members and at the offices of the credit union and electronically at least 10 days before the meeting.” Eligible Members wishing to inspect the audited financial statements are asked to contact Susan Stockwell Andrews, Corporate Secretary at corporatesecretary@wfcu.ca to arrange an appointment to do so.
3. Members of the Credit Union wishing to vote and attend the AGM must register. 
4. Only Members according to the records of the Credit Union as of October 31, 2024 (the “Record Date” according to the Credit Union’s General Bylaw) shall be entitled to vote at the meeting.

Registration & Voting