Our 2017 annual general meeting was held on Wednesday, March 8 at the Shaw Conference Centre in Edmonton.
Curious about the results of the 2017 Board of Directors elections? Find out now.
Every year at Servus’s annual general meeting members get the inside scoop on how the credit union is performing and what’s on the horizon. At the meeting, members hear directly from the Board of Directors and the Chief Executive Officer and ask them questions about anything that matters to them.
Special business conducted at the 2017 AGM included a proposal to amend the bylaws of the credit union. The proposed amendments change director terms from 3 to 4 years and make minor wording changes to better reflect the way we carry out our business. Below is the full text of the proposed amendments. Changes from current bylaws are underlined.
UPDATE: Members voted to accept these changes. Updated official bylaws will be published shortly.
2.10 Application for membership shall be made in writing or on-line.
2.30 Membership shall be terminated where deemed necessary by the Board of Directors or its designate.
2.40 A person whose membership has been terminated shall have the right to appeal the decision to the Board of Directors within 30 days.
4.20 h. Announcement of Election Results.
4.20 (…) and notice of any new business to be conducted at the annual general meeting must be given in accordance with the terms of the Act.
4.81 In the case of joint membership, voting privileges will be allowed to each person provided that such persons do not hold individual memberships, have each reached the age of majority and jointly hold at least that number of common shares as there are persons named on the joint membership (…)
5.11 Except for Directors appointed pursuant to an amalgamation agreement, or as the candidate who receives the fourth greatest amount of votes in the election and based on the procedure set out in bylaw 5.50, a Director, duly elected by the members, shall hold a term of office which shall expire on the fourth annual general meeting following the annual general meeting or in respect of which he was elected (…)
5.20 d) is the spouse or adult interdependent partner of a Director or employee of the Credit Union or is a relative of or a relative of the spouse or an adult independent partner of, and has the same home as a Director or employee of the Credit Union.
5.20 e) is in a real or perceived conflict of interest through personal, business or other relationships.
5.21 b) he shall submit resignations from any organizations the director has been appointed to by Servus Credit Union.
5.22 c) fails to attend two consecutive Board meetings without the due consideration and approval of the Chair of the Board of Directors.
5.50 Notwithstanding the terms of bylaw 5.11, for the elections to fill
vacancies resulting from the expiry of Directors’ terms of office at
the 2018, 2019 and 2020 annual general meetings, the candidate for
election who receives the fourth greatest number of votes in each
a) if elected in 2018, serve for a term of three years, expiring at the annual general meeting in 2021;
b) if elected in 2019, serve for a term of two years, expiring at the annual general meeting in 2021; and
c) if elected in 2020, serve for a term of one year, expiring at the annual general meeting in 2021
6.10 The Board of Directors, or its designate, shall determine the procedures to be followed in the election of qualified nominees to the Board of Directors.