Annual Report - Grandview Credit Union

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74 th Annual Meeting
Tuesday, April 26 th , 2016
MEETING AGENDA
1. President’s Welcome
2. Introduction of Guests
3. Guest Speaker-Garth Manness
4. Call Meeting to Order
5. Minute of Silence in remembrance of deceased members
6. Proof of Due calling of meeting
7. Report of Register – Motion to Approve Quorum
8. Motion to Approve Agenda
9. Approval of the Minutes of April 21, 2015 AGM
10. Business Arising from the Minutes
11. Introduction of Board Members
12. Board of Director’s Report
13. Introduction of Staff
14. General Manager’s Report – Audited Financial Statements
2015
15. Appointment of Auditors for 2016
16. Nominating Committee Chair
17. Q & A Period
18. Presentation of Donations
19. Door Prizes
Page 2
20. Adjournment
GRANDVIEW CREDIT UNION LIMITED
74th Annual General Meeting
Tuesday, April 26, 2016
Grandview Kinsmen Community Centre
Business Meeting: 7:00 p.m.
Present:
Ron Myers, President
Roger Palmer, Vice President
Ray Brasch, Director
Jennifer Bettany, Secretary
Tannis Pulock, Director
Ray Gashyna, Director
Lindsey Morran, Director
1. President’s Welcome: President Ron Myers welcomed everyone and introduced the
guests.
2. Introduction of Guests:Ron Hedley, President & CEO of Catalyst CU
Richard Dereniwki, Chairman of the Board of Catalyst CU
Mike Cversko, Director of Catalyst CU
Edwin Myers, Vice President of the Board of Catalyst CU
Mitch Michaluk, Director of Catalyst CU
Armin Glass, CEO of Prairie Mountain CU
Robert Killam, Director of Prairie Mountain CU
Ian Gerrard, CEO of Vanguard CU
Paul Orsak, Director of Vanguard CU
Mick Rauluk, Treasury Risk and Compliance
Rob Giesbrecht, Corporate Counsel, Pitblado Law
Clarissa Parr, MNP
Ray Braun, Chief Risk Officer, Deposit Guarantee Corporation of Manitoba
Doug Shumilak, Deposit Guarantee Corporation of Manitoba
Garth Maness, CEO of Credit Union Central of Manitoba
3. Introduction of Guest Speaker: Ron Myers introduced Garth Maness as the guest
speaker. Garth gave a presentation on the state of Credit Unions in Manitoba.
4. Call of the Meeting to Order: Ron Myers called the meeting to order.
5. A moment of silence was observed in remembrance of deceased members.
A-16. Edwin Myers/Ryan Balak moved Rob Giesbrecht as the Chair of the
meeting.
6. Proof of Due Calling of Meeting: The AGM was advertised for 3 weeks in the
Grandview Exponent, April 12, 17 and 19, Facebook, the Grandview Credit Union
webpage as well as posters in branch as per Bylaw 5:06.
7. Report of the Register-Motion to Approve Quorum:
There are 125 members present and 16 non-members which represents a quorum.
As per the CU Act there is one vote per member and only members may speak.
When someone makes a motion please state your name for the secretary to record.
A2 -16: Motion to adopt the rules of order: Ron Myers/Roger Palmer.
8.
A3-16: Motion to Approve the Agenda as Circulated: Allan Yuill/Wayne
Manweiler.
9.
A4-16: Approval of the Minutes of the AGM as circulated from April 21, 2015:
Flo Branconnier/Lyle Morran.
10. Any Business Arising from the Minutes: none.
11. Introduction of Board Members: Ron Myers, President, 16 years
Roger Palmer, Vice President, 4 years
Ray Brasch, Director, Audit and Nominating Committees, 15 years
Ray Gashyna, Director, Audit Chair, 3 years
Jennifer Bettany, Secretary, 3 years
Lindsey Morran, Director, Audit Committee, 2 years
Tannis Pulock, Director, Nominating Committee, 1 year
12. Board of Directors Report given by Ron Myers, who also touched on recent staffing concerns
at the Credit Union.
13. Introduction of Staff: Dale Scott introduced the GVCU staff.
14. Interim GM’s Report: Dale Scott presented the audited financial statements.
15. Audit Chair Ray Gashyna moved the appointment of the auditors for 2016 to be MNP.
A5-16: Ray Gashyna/Beverly Brinkman.
16. Nominating Committee: The report from the nominating committee was presented, and a
motion was made for ratification of the Directors whose terms have expired but have allowed
their names to stand for election again, Jennifer Bettany and Ray Gashyna by acclamation.
A6-16: Allan Yuill/David Stronciski
17. Question and Answer Period:
A number of questions were asked by the membership about the current staffing situations,
safety of their money, and security code changing from alphanumerical to just numeric. These
were answered by either the President, Interim General Manager and/or Legal Counsel and due
to privacy laws, were limited.
18. Presentation of Donations: Lindsey Morran handed out donations which were accepted on
behalf of the Grandview Kinsmen Club, GV-GP Ag Society, Watson Crossley Community
Museum, Grandview Recreation Commission and Tiny Treasures Daycare.
19. Awarding of Door Prizes: Lyle Morran, Danny McDonald, Steve Ganczar, Grenville Grasby,
and Anne Manweiler.
20. Adjournment:
A7-16: Dave VanderMeer.
Refreshments were served.
Board Report
2015 has been a very interesting Year for the
Grandview Credit Union. The current economy of
low oil prices, continued low interest rates and the
low Canadian Dollar are all factors affecting the
growth in the Credit Union System. The GVCU had a
modest growth in assets of 1.7% to $68,791,772 and a
net income of $373,591 or .54% of assets before
patronage and taxes, GVCU’s equity remains strong
at 8.277%. Our Risk Rated Capital is at 14.6% which
exceeds basil 3 compliance requirements of 8%. In
combination, this gave the Board the opportunity to
declare another $25,000.00 dividend payout on
surplus shares to the members.
Our focus is on member services, compliance,
technology and community involvement. The
Grandview Credit Union is striving to provide
excellent “one on one” service and is continuing to
invest in technology to provide members with
convenient and secure remote services. In 2015
remote deposit was added to our services, and was a
very successful product. There were 782 member
deposits totalling of 2.4 million since May 2015 using
our mobile app via smart phones. The Grandview
Credit Union and staff were very involved in
community events, with many volunteer hours and
donations of over $20,000. Some of the major ones
were GV Minor Ball, Gateways, Grandview
Homecoming, Grandview Thunder, and our very own
Comets.
As a small Credit Union we still face many
challenges, the low interest rate and intense
competition has resulted in very narrow margins.
The cost of regulatory requirements and
operational compliance is increasing. Being a small
rural community, we are also faced with the
challenge of a small labour pool of individuals with
financial experience. The GVCU has maintained its
independence but is collaborating with neighboring
Credit Unions. In the future the trend will be of more
collaborations to increase efficiencies. I would like
to thank you the members for your support. I would
also like to thank my fellow board members,
management, and staff for their hard work and
contributing to another successful year.
On Behalf of the Board,
Ron Myers
President
Monetary Donation Highlights of
2015
This list contains some of the
organizations/events that received monetary
& merchandise donations from Grandview
Credit Union.
LIONS Ride for Sight
GV Women’s Bonspiel
TA Burrows Reenactment
Shiners’ Club
GV Men’s Bonspiel
Canadian Cancer Society
Grandview Personal Care
Home
1st Scouts Canada
Grandview Minor Ball
Safe Grad Committee
GP/GV Ag Society
MS Society
Ag Outlook
Relay for Life
4-H Club
Grandview School Grad
Volunteer Award
Camp Wannakumbac
Gilbert Plains Country
Club
GV Gateways Activity
Centre
Parkland Rangers
Intermountain
Snowmobile Club
Grandview Comets
Grand Plains Minor
Hockey
Grandview Christmas
Hampers
GVCU Jackpot Series
Veselka Dancers
Parent Advisory Council
Dauphin Men’s Curling
Club
Masters Curling Bonspiel
PARC Eco Development
Royal Canadian Legion
Provincial Crib Tourn
Grandview Kinsmen
Curling Bonspiel
Major Donations for 2015
Parkland Thunder
Grandview Community Foundation
Grandview Gateways
Grandview Minor Ball
Grandview Jackpot Series
Grandview Homecoming
GRANDVIEW CREDIT UNION LIMITED
RULES AND REGULATIONS GOVERNING SPECIAL MEETING
The following general rules shall take precedence but where these rules may not cover a
point being debated, Wainberg's Society Rules shall govern.
(a)
Questions on reports shall be dealt with under “Other Business”.
(b)
Motions must be properly moved and seconded before being discussed.
(c)
Only two amendments will be permitted on any motion – an amendment to the
original motion and one amendment to the amendment. Amendments that
fundamentally alter the subject matter of a motion shall be disallowed.
(d)
Only members may move or second a motion.
(e)
Visitors may speak but only after being granted permission by the Chairperson.
(f)
Those granted the floor may speak only once to a motion, except the mover who will
be allowed to close the debate.
(g)
No person may speak more than three minutes at a time without permission from the
floor.
(h)
After the question has been called on a motion the Chairperson may, on the advice
of the members, delay the vote for a period of one and one-half minutes before the
vote is taken.
(i)
On all votes, the Chairperson shall call for a vote by show of hands unless a member
requests that the vote be taken by ballot. A request for a ballot may be made before
or after the vote by show of hands is taken. At any meeting, unless a vote by ballot is
demanded or required, a declaration by the Chairperson that a motion has been
passed unanimously or by a particular majority or defeated or not passed by a
particular majority shall be conclusive evidence of that fact.
The Board of Directors
1843888\1
GRANDVIEW CREDIT UNION LIMITED
SUMMARY FINANCIAL STATEMENTS
December 31, 2015
Please note that the Financial Statements are in a SUMMARY
format.
Please feel free to request a full set of financial statements
at the
Annual General Meeting or at the branch
by calling 204.546.5200 or emailing
[email protected].