Boards and Elections

Board Selection

´╗┐North Sydney Credit Union is a democratic financial institution that operates with the best interests of our members community and environment in mind. You could play an integral role in shaping the future direction of this progressive, dynamic, and caring organization.

Who is Eligible to become a Director?

In order to be eligible to serve as a Director of the North Sydney Credit Union, the individual must be a Canadian Citizen, nineteen years of age and be a member of the credit union. As set out in the Credit Union Act and the by-laws of the credit union, the following persons are not eligible:

a)   an undischarged bankrupt,

b)   a current employee of the credit union, or anyone who, in the past two years, has been an employee of the credit union, Credit Union Central or the Credit Union Deposit Insurance Corporation,

c)   an auditor or a partner of the auditor's firm of the credit union,

d)   the solicitor or a partner in the solicitor's firm of the credit union,

e)   a civil servant whose official duties are concerned with the credit union,

f)   a person who has a loan with a credit union that is more than three months in arrears, or

g)   a person who is in breach of any policy of the credit union,

h)   a person who has not completed the director training requirements as set out in the Credit Union Act 82(3), or

i)   a person who fails to attend three consecutive Board meetings, without cause satisfactory to the other members of the Board of Directors.

 

In addition to the above eligibility criteria, the following conditions shall apply:

a)   must be eligible for bonding,

b)   must not have loans in arrears with other credit unions or other financial organizations, and must not have loans with the credit union that are irregular in nature,

c)   must not be involved in any legal action or dispute with the credit union,

d)   must not have been involved in an ownership capacity with any group or organization that caused losses to the credit union through write-offs, collections costs, legal costs, etc.

e)   must not be a board member of any other financial institution except as a representative of the credit union,

f)   must be able to attend regular Board meetings as per the credit union by-laws and Board policy,

g)   must be prepared to conduct a significant portion of their business with the credit union in order to demonstrate confidence in the credit union,

h)   must be able and willing to attend training sessions,

i)   must be willing to accept, understand and defend policies established by the Board of Directors, and

j)   must be prepared to promote the credit union and the credit union movement at each opportunity by action and example.

Are you Eligible to Vote?

Who may vote? Every member who is 19 years of age and in good standing* is entitled to one vote.

*Share balance of not less than $5.00 and have full member status as of the day prior to the notice of the Annual General Meeting where the elections will take place. The Credit Union Act does not allow owners to vote more than once per question or to vote by proxy. If a corporation or association is a member of North Sydney Credit Union, the Credit Union shall recognize a natural person authorized to represent the corporation or association by a resolution of the directors of governing body of the corporation or association.

 

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