66th Annual General Meeting

Notice of Annual General Meeting

All members are invited to attend our 66^th Annual General Meeting, at 12.00pm, Wednesday 29^th September 2021, at 111 Collingwood Street, Hamilton.

Agenda:

Minutes of the 2020 Annual General Meeting

Adopt the Annual Reports for the year ended 30 June 2021

Rule* Changes

Election of Officers

Appointment of Auditors

General Business

*RULE CHANGE

Summary of proposed amendments to First Credit Union Incorporated's Rules

First Credit Union Incorporated (FCU) proposes to seek member aproval for a number of changes to its rules at its annual meeting to be held in September 2021.

A summary of the proposed amendments is as follows:

1. Changes to the Rules so that FCU's General Manager (currently Mr Simon Scott):

(a) is automatically appointed as a director (subject to the completion of Reserve Bank suitability notice requirements) for so long as they remain General Manager;

(b) is not required to stand for re-election by Members;

(d) is not able to hold the office of Chair, Vice-Chair, Treasurer or Secretary.

These changes are intended to better reflect the nature of the General Manager's role as an executive board member.

2. Changing the timing for annual meetings so that they need to be held by the end of October each year (rather than September, as is currently the case). This change is intended to allow more time for FCU to complete the matters that need to be completed each year before the annual meeting (for example, finalising FCU's financial statements).

3. Other incidental amendments, including:

(a) removing references to cheques (which are no longer relevant);

(b) updating the definition of Electronic Communication (to make it more meaningful);

(d) removing a definition that is not used and making other minor alternations.

Explanation

The proposed changes to the existing Rules can be found here