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Tel: 020 7561 1786 (Multilingual advisors available)  •  Fax: 020 7272 8192  •  Email: info@credit-union.coop

Fri 18-Aug-2017
NewsAn invitation to our Annual General Meeting
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11 January 2017
An invitation to our Annual General Meeting

We would like to invite our members to come along to the Annual General Meeting (AGM) of the credit union, which takes place on Thursday 2nd February 2017.

As a membership organisation, London Capital Credit Union relies on the support of its members and our AGM is an important opportunity for members to get together. All members of London Capital Credit Union who have the minimum £1 share balance are welcome to attend to hear how their credit union is growing and maturing.

This year’s AGM take place at the UNISON Centre, 130 Euston Road, London NW1 2AY, on Thursday 2nd February 2016 at 7pm, with light refreshments available from 6.30pm. Food and beverages will be provided after the meeting, from 8pm to 8.45pm.

Members attending the meeting will find out how the Credit Union has performed over the last year, both financially and in terms of new members joining. The dividend to be paid for the last year will also be announced.

Helen Baron, Director and President of the Credit Union said: “I do hope you will be able to join us at our AGM to hear how your credit union is growing and maturing.  The Board welcomes the opportunity of sharing progress and hearing from members how they would like the credit union to develop in the future.

“London Capital Credit Union is still one of the fastest growing credit unions in the country.  We now have some 15,000 members who between them have more than £10 million in savings. In 2015-16 we gave out over 5,700 loans to a value of nearly £8 million.

“We would like to encourage everyone to develop the savings habit. Over 15% of our members now save via payroll schemes. This allows savings (and loan payments) to be deducted directly from salary and means that savings build up almost unnoticed!  Click here to see if your employer is registered with us. If not, contact us if you would like to discuss setting up a payroll scheme.

“Over this year we have been working on improving our website to enhance online access to our products.  Most people now apply for loans online and with our new loan calculator you can check how much a loan will cost and what the payments might be over different periods or amounts. 

“We will post the annual report on the Annual Report & Accounts page of our website as soon as it is available, giving more details of how the credit union is growing and developing. One challenge we have faced this year is changes to the regulatory environment. You will notice that the format of our financial statements has changed because of new reporting requirements. In the wake of the financial crisis we are also required to make more stringent cash provisions. To meet these as we grow we are developing deferred shares which allow companies and individuals who can afford it to support the capital position of the credit union.

“I cannot finish without thanking all the staff and volunteers (including my fellow directors) whose hard work keeps our credit union going. If you are interested in volunteering, click here to check out the information on our website. There are lots of opportunities, from office work to joining the board. As well as supporting your credit union you could be gaining useful skills and new friends! I would also like to thank Haringey and Islington councils for their continuing support.

“Lastly, I would like to thank you for supporting the credit union. Please do tell your friends about us and encourage them to join to enjoy our services.”

The UNISON Centre is conveniently located on Euston Road a short walk from Euston and Kings Cross underground stations. It is well served by a large number of buses. Alight at Euston or The British Library or Friends Meeting House. Click here for a location map of UNISON Centre.

It would really help us if you could let us know if you are coming. Please let us know by emailing info@credit-union.coop or calling us on 020 7561 1786.

The agenda for the AGM is as follows:

  1. Welcome, Introductions and Apologies for Absence
  2. To agree the Standing Orders for the conduct of general meetings
  3. Appointment of Tellers for Elections and other Votes
  4. To approve the minutes of the previous AGM held on 2nd Feb 2015
  5. Board Reports
  6. Loans Panel Report
  7. Audited Accounts for the Financial Year 2015-16 and Treasurer’s Report
  8. Dividend and Rebate of Interest for 2015-16
  9. Appointment of Auditors
  10. Supervisory Committee Report and Questions
  11. Election of Officers:
          a) Election of Directors
          b) Election of Supervisory Committee Members
  12. Motions / Rule Changes 
  13. Close of Formal Meeting

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  • London Capital Credit Union
  • Tel: 020 7561 1786 (Multilingual advisors available)  • 
  • Fax: 020 7272 8192  • 
  • Email: info@credit-union.coop
  • Web: http://www.credit-union.coop
Authorised by the Prudential Regulation Authority & regulated by the Financial Conduct Authority & the Prudential Regulation Authority. Firm Ref. No. 214094