I would like to take this opportunity to update you on the impact of Covid 19 on the holding of Credit Union Annual General Meetings (AGM’s). As you may be aware, our Credit Union has traditionally held its AGM in early December and in normal circumstances, would be planning to do so again this year.
However, in line with public health guidelines, it is not possible to hold our Annual General Meeting at the moment. The Government has approved the General Scheme of a Credit Union Bill which will allow credit unions to host virtual AGMs and to provide for different forms of voting in the absence of a physical meeting, and we are monitoring this closely. The Scheme also permits the delay of hosting AGM’s related to the financial year end September 2020 until April 2021, to allow time for the Bill to be passed into law.
In light of this, we will be deferring our 2020 AGM until the new year. At that point, if it is safe to do so, we will continue to have our meeting in the usual format. If not, we will avail of the new measures regarding the holding of a virtual AGM, which we expect will have been passed into law by then.
We apologise for any inconvenience this may cause but keeping everyone safe is of paramount importance.
Once a date and the appropriate format has been finalised, we will let you know.
I hope you are all staying safe and well during these challenging times and as always, please feel free to reach out to your Credit Union if you need help from us in any way.