sJU5 398im5WjrIJirbeG-Credit Union AGM Booklet 2024 - Flipbook - Page 10
10 Credit Union AGM Booklet 2024
2.
APOLOGIES FOR ABSENCE
2.1
The MC tendered apologies on behalf of Director Mr. Paul Innis and member Pastor Alson Ebanks.
She asked if apologies were received on behalf of any other members.
2.2
Apologies were received from Ms Kim France, Mr Marco Archer, and Ms Johnae Moss, all members
of the Supervisory Committee.
3.
STANDING ORDERS
3.1
The MC explained the Standing Orders for the Annual General Meeting (AGM).
4.
MEMBER STATISTICS
4.1
MC Glasgow provided a high-level overview of the composition of the membership, and in doing so,
she advised that 56% of members were female and 44% were male. She reported that most of the
membership was between the ages of 18 and 40, representing the largest group of borrowers in the
credit union. She advised that the second largest group of borrowers were members between the
ages of 51 and 65 and explained that with only 32% of the membership borrowing, the younger
members who were in stable employment should be encouraged to borrow to increase the dividend
received at year-end.
4.2
MC Glasgow reported that the largest group of shareholders, when categorised by nationality, was
Caymanian. Concerning recent national news, she noted that Caymanians were a minority in the
population of the Cayman Islands; therefore, for Caymanians to remain the majority shareholders in
the Credit Union, members needed to be proactive and encourage their family members to join the
Credit Union.
4.3
Regarding account status, the MC reported that a small percentage of members’ accounts were
dormant. To prevent dormancy, she cautioned members to use the online banking platform or
automated teller machines to conduct periodic transactions.
5.
PRIOR MINUTES OF THE 47TH AGM HELD ON 30 NOVEMBER 2022
5.1
MC Glasgow referred to the minutes of the 47th AGM (the “Prior Minutes”), and she advised that the
Prior Minutes were included in the AGM booklet and had been published in advance of the meeting
on the Credit Union’s website and on the online platform, Whova.
5.2
A motion to accept the Prior Minutes as read was moved by Sandra Rose and was seconded by
Camile Beckford. The motion carried unanimously.
5.3
There were no questions or comments in relation to the Prior Minutes.
5.4
A motion to adopt the Prior Minutes as presented was moved by Elaine Thomas and was seconded
by Deanna Look Loy. The motion carried unanimously.
5.5
There were no matters arising from the Prior Minutes.
6.
TESTIMONIAL – Mr. Gilbert McLean
6.1
Nancy Whittaker, Marketing Manager, read the testimonial of Founding Member Gilbert McLean.
