Annual General Meeting

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At the Annual and Special Meeting held on April 20, members were asked to vote on proposed bylaw changes that relate to Affinity’s Governance Model. If you missed the meeting, no worries! Check out the recording below.

The Board routinely reviews our Governance Model to determine if enhancements should be considered and to ensure we’re meeting the needs of our members, practicing good governance and meeting regulatory requirements.

In their latest review conducted throughout 2021, the Board, with assistance of an external governance and strategy expert, determined revisions to our current governance structure would allow us to better meet our regulatory requirements and implement good governance practices. This review was conducted in the context of Affinity being designated a Provincially Significant Financial Institution (P-SIFI) by our regulator, the Credit Union Deposit Guarantee Corporation (CUDGC).

The key changes proposed include:

  • The pool of potential Board candidates will be open to the entire membership.
  • Directors will be elected at-large by all members.
  • Board candidates will not be required to be or have been a delegate. Board positions won’t be linked to districts.
  • The Board will establish a Nominations Committee to seek nominees with a diverse mix of competencies and attributes, including directors with strong knowledge of credit union values, to best govern Affinity.

Supporting materials with an overview of the proposed Bylaw changes are available here. The complete redlined version of the proposed changes to Affinity’s Bylaws are available here.

Bylaw Voting Period

The results are in and the special resolution on proposed bylaw changes has been approved with 89% in favour. Thank you to all who voted!

The new governance model will allow for our entire membership to participate on our Board of Directors, representing the interests of all members, regardless of what part of Saskatchewan they call home. It will also allow the Board to determine the skills and competencies that constitute the ideal Board and recruit for specific skill sets while ensuring that attributes like having a co-operative nature remain as a foundational part of our Board composition.

Overall, this is a great opportunity for Affinity, our elected officials and our members!

We look forward to focusing on the ongoing work associated with the new governance model in the coming weeks and months, working closely with all stakeholders to ensure a smooth transition.