Annual Meeting

NOTICE IS HEREBY GIVEN for the

39th Annual General Meeting

Monday, September 18, 2023
Crowne Plaza, Kitchener, ON

Wednesday, September 20, 2023
the St. Clair College Centre for the Arts,  Windsor, ON

 on Friday, August 25, 2023 and close at 4:59pm on Monday, September 11, 2023.

Purpose
The purpose of the Annual Meeting is to receive and vote on the Annual Report of the Board of Directors and President & CEO; the Report of the Treasurer on the Financial Statements; the Report of the Auditor; the Report of the Audit Committee; the Report of the Nominating Committee; the Appointment of the Auditor; the Election of Directors; the Special Business placed before the Members regarding amendments to the Credit Union’s Bylaw No. 1; and to transact such other business as may properly come before an Annual Meeting of Members.

Election of Directors
This year, there are two (2) vacancies on the WFCU Board of Directors, with both positions for a three-year term.

The Nominating Committee of the Board of Directors has successfully completed their role in ensuring that there are a sufficient number of qualified applicants to fill the two (2) positions.

The following Members put forth their application by the deadline of noon on Friday, June 16, 2023, and met the requirements of the candidate application and nomination process.

Vic Neufeld            Dr. Patti France

No election of Directors will take place at the Annual Meeting and no further nominations will be accepted. Therefore, Members will be asked to receive the report of the Nominating Committee and to elect the two (2) candidates by acclamation. Click here for more information regarding the candidates.

Special Business
The new Credit Unions and Caisses Populaires Act, 2020 (“the Act”) came into force March 1, 2022, and is effective for all Ontario credit unions. The Financial Services Regulatory Authority (“FSRA”) regulates credit unions through this new principles-based statutory framework by administering regulations and rules, such as the new Sound Business and Financial Practices Rule.

The intent of the amendments to the Act, Regulations, and FSRA Rules is to enable credit unions to better serve their Members and remain competitive in the financial services marketplace while preserving the soundness of the regulatory system.

To address the amendments to the Act, the Credit Union Bylaw was reviewed, updated and amended.
By way of a special resolution, the Board of Directors will be recommending the amended WFCU Credit Union Bylaw No. 1 to the Membership.

DATED THE 24th day of August, 2023     
BY ORDER OF THE BOARD

Susan Stockwell Andrews
Corporate Secretary

Notes

1. The proposed amendments of the Credit Union’s Bylaw No. 1 are subject to approval as special resolutions of the Membership of the Credit Union. A special resolution cannot be amended. A copy of the proposed Special Resolution, an explanatory note of the amendments to Bylaw No.1, and the Board’s reasons for proposing the amendments are available at all branches and WFCU’s Head Office, as well as via www.wfcu.ca, as of September 1, 2023.
2. As directed and as stated in the Credit Unions and Caisses Populaires Act, 2020, “the credit union shall make copies of the audited financial statements, the auditor’s report and the audit committee report available for inspection, by any member, at the meeting at which the statements and reports are to be placed before the Members and at the offices of the credit union and electronically at least 10 days before the meeting.” Eligible Members wishing to inspect the audited financial statements are asked to contact Susan Stockwell Andrews, Corporate Secretary at corporatesecretary@wfcu.ca to arrange an appointment to do so.
3. Members of the Credit Union attending the meeting must register to attend.
4. Only Members according to the records of the Credit Union as of August 24th, 2023 (the “Record Date” according to the Credit Union’s Bylaw No. 1) shall be entitled to vote at the meeting.