Due to the COVID-19 pandemic,
our most profound concern for the staging of the 67th Annual General Meeting
(AGM) was for the welfare of all stakeholders who wished to participate, hence
we decided to utilize a hybrid format where members may attend and experience
the event through a live Webcast.
The Society will reconvene the 67th AGM on Saturday, January 9th, 2021 at 1:30 p.m. We encourage those members/owners who wish to participate (for example: view the 67th AGM, review reports, pose questions, vote) to pre-register by 4:00p.m. on Friday, January 8th, 2021. Those members who have previously pre-registered for the 67th AGM will not be required to do so again.
We want to boost the registration and participation in the AGM scheduled for January 9th, 2021. Our Society has a total of 10,791 members/owners (2019), and requests for pre-registration to the adjourned 67th AGM (December 28th, 2020) only solicited one hundred and ninety-nine (199) registrations.
Shortly after a member/owner completes pre-registration, authentication will take place. After that, they will be issued with reminder notices and eventually their credentials and login instructions to access the Online meeting, all via email.
We are also encouraging members/owners to post questions before the date of the 67th AGM, using the NMCU 67th AGM Webpage or through our available communication channels. The Board and management will review all questions and promptly respond. We intend that all information pertinent to the 67th AGM will be available on the NMCU Website and other communication channels.
Earlier, the Credit Union scheduled
its 67th Annual General Meeting (AGM) for Saturday, November 28th, 2020,
at 1:30 p.m. At 1:30 p.m. the 67th AGM was called to order, and the
first credential report confirmed that the quorum of one hundred (100) members/owners were not logged into the Online meeting.
The Chairman paid attention to Bye-Law 25 (a):
If within thirty (30) minutes after the time fixed for any general or special general meeting, other than a special general meeting convened at the request of the Commissioner, the members present are not sufficient to form a quorum, such meeting shall stand adjourned to a date not less than fourteen (14) days thereafter and members shall be notified accordingly at least seven (7) days before the date thereof, such notification to be made in the same manner as for a general meeting. The decisions of the adjourned meeting shall be final, conclusive, and binding on all members irrespective of the number of members present not constituting a quorum.
After the stipulated time had passed, the Chairman adjourned the 67th AGM because a quorum was not present.
The adjournment of the 67th Annual General Meeting will delay the Society from issuing the final 25% dividend payment to the membership, along with other essential resolutions which require a vote by the membership. Additionally, your Credit Union will have to incur additional costs to host a second AGM, which will increase the 2020 spending, and thereby reduce the surplus available for distribution. The Board of Directors and Management will also perform a Meeting post-mortem and make the required adjustments to facilitate the successful continuance of the 67th AGM for our membership.
Our AGM will be using an Online format, which is a first for the organization, and our collective efforts will ensure that we have a successful 67th AGM.
Responses to November 28th, 2020 Annual General Meeting
67th AGM Standing Orders for Online Meeting
Download the 67th Annual Report
Download Co-Operative Societies Act
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