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AGM Summary Report 2020

Friday 18th Dec, 2020

AGM Summary Report 2020

HEY CREDIT UNION AGM 2020

We held our 22nd Annual General Meeting (AGM) online on 8 December.

Dividends

Members voted to declare Dividends on savings accounts of:

• 0.3% on all Adult and Junior Saver Accounts;
• 0.3% on Community Accounts;
  based on the daily balances during the year to 30 September 2020.

Elections

Terence Dagnall, Lynsey McGowan and Susan Nicholson were elected to the Board of Directors for three years.

Thanks were expressed to Joanne Foster, Altynay Guney and John Lawrence, who did not seek re-election, for their services to the Credit Union as Directors.

Any member interested in being considered for the unfilled place on the Board of Directors is invited to email or call the Chief Executive to find out more.

Annual Report and Accounts

Members received the Annual Report and Accounts and re-appointed the Auditors, Jacksons Accountants.

Questions were asked and answered on the increased expenditure in 2020 compared with 2019, and how the number of members closing their accounts compared with the number joining.

Presentations

Alan Hignett, Joint Vice President, introduced our first Social Impact Report, which explains the Credit Union’s social purpose to all its stakeholders and assesses the difference it has made to the community over the past 21 years.

Holly Piper, Investment Director of Fair4All Finance, gave an interesting presentation about her organisation’s work to increase the financial resilience and wellbeing of people in vulnerable circumstances by scaling up access to affordable credit from providers such as credit unions.

Other Business

As it was not possible to take a small change collection, it was agreed to give a donation from the Credit Union to seven organisations helping vulnerable people across the communities we serve:

The Kingfisher Café registered charity, West Street, Bridlington; Driffield & Wolds Food Bank; Goole Foodbank’s Toy Appeal; The Forge Project, Cottage Beck Road, Scunthorpe; Shores Community Pantry, Withernsea; Beverley Cherry Tree Community Pantry; Hull Trades Council Unity Shop Food Bank.

A closing prize draw was held and six members were selected at random to receive a £10 gift voucher.

A big thank you to all members who supported our first ever virtual meeting and to all our helpers, especially Jackie at ABCUL for facilitating the meeting so expertly.

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