The meeting is an opportunity for members to gather together to enjoy a sumptuous meal and to participate in the business meeting where current strategies, future plans and past developments are discussed.

As a cooperative financial institution, ECU is locally owned and locally controlled. The Board of Directors consists of nine individuals from within the membership of the credit union.

There will be 3 vacancies on the board this year.  Each board member serves a three year term and may subsequently be re-elected.  Anyone interested in more information concerning board member nominations may contact Dennis Daub, CEO by calling 519-742-3500 x 2231 or by email at dennisd@ecusolutions.com.

A proposed change to our by-laws concerning Board of Director nominations will be presented at this years’ meeting:

By-law Change

The board of directors will be recommending a by-law change at this year’s Annual General Meeting (AGM).  In summary, the change requires individuals to state their intent to stand for election to the board at least 30 days prior to the AGM.  Under the current by-law, nominations are accepted prior to the meeting and from the floor at the meeting.
 
Being a director of a credit union is complex. Providing eligible individuals the opportunity to fully understand the roles and responsibilities prior to standing for election at an AGM is imperative.  It is also important that the membership have advance notice of who is running for election to the board and their qualifications.  

REVISED:

Nominations

3.12     The board of directors shall appoint a nominating committee, who shall seek at least one nomination from amongst members for each vacancy for which an election is to be held.  Nominees must file their intent in writing not later than 30 days prior to the Annual General Meeting (AGM).  Not less than 20 days prior to the AGM a bio of each candidate with a photo (optional) will be posted on the credit union web-site.      

CURRENT:

Nominations

3.12     The board of directors may appoint a nomination committee of three members, who shall nominate at least one member for each vacancy for which an election is to be held.  When a nomination committee has been so appointed, the chairman at the annual meeting, shall place the names of the persons nominated for the vacancies before the meeting and shall then call for other nominations for each vacancy.

The proposed change will be further discussed at our Annual General Meeting on Tuesday, November 25, 2008.  Any questions prior to the meeting may be directed to Dennis Daub, Corporate Secretary and CEO of the credit union.