Friday 12th Feb, 2021
93 members attend from across the country
What a delight it was to welcome so many members last night to our online Annual General Meeting.
For the first time, members from across the country from the south coast to Scotland were able to join us to hear reports, examine the annual accounts of their Credit Union, elect board members and vote on motions submitted to the meeting.
A record total of 93 people attended!
Two members were also the lucky winners of our prize draw, winning £50 each.
This is just the latest example of how the adoption of new technology and new ways of working is improving our service to members and improving the levels of credit union democracy and accountability. Whilst it may be COVID restrictions that forced us to an online AGM, I don’t think this technology is something that we would want to abandon in the future.
In a week in which the Bank of England told firms to be prepared for the possibility of negative interest rates and said that the average return on an instant access savings account was now just 0.12%, we were pleased to be able to deliver for our members a return of more than 12 times that average, when the AGM voted in favour of a dividend of 1.5% on average balances for the 2019/20 financial year. Those dividends were applied to accounts this morning.
In addition, we were able to bolster our reserves and our benevolent fund to guard against the uncertainties to come and to ensure that the Credit Union will be here to support you for many years to come.
The meeting heard presentations from the board, treasurer, internal and external auditors and viewed the audited accounts,and all of this can be seen in our Annual Report below.
2020 was a difficult year, but a year in which we and our members were able to support each other and come out of the other side together.
Here’s hoping for a better year ahead… maybe.