ADVANCED NOTICE OF THE FIFTY SECOND ANNUAL GENERAL MEETING

Members are advised that the Fifty Second Annual General Meeting of Central Murray Credit Union Limited will be held on Wednesday 13^th November 2024 commencing at 6:00pm.

Call for Nomination of a Member for Board of Directors

In accordance with the Constitution of Central Murray Credit Union Limited (CMCU) the Board calls for nominations for three (3) positions on the Board of Directors.

Directors of CMCU are elected for a three-year term or appointed by the Board. Returning Directors may stand for re-election without nomination if they are eligible for election. Linda Douglas, Graeme Scannell and Jonathon Symes have declared that they will stand for election.

Nominations Committee

In accordance with CMCU’s Constitution, the Board has established a Nominations Committee, which comprises a majority of independent members. The responsibility of the committee is to determine which nominees (if any) are of appropriate fitness and propriety to become a candidate and act as a director, by reference to the Board’s Fit and Proper Policy.

Each nominee who seeks nomination and each retiring Director who stands for re-election without nomination will be invited by the Nominations Committee to attend an interview to determine the suitability of the nominee for election as a director.

Requirements for Nomination

The Board of CMCU is skill based and is committed to maintaining a mix of directors that collectively bring the required experience and skills to enable the Board to operate efficiently and effectively.

Members considering nominating need to be mindful that CMCU is a financial services organisation. CMCU operates within the mutual sector and its board strives to ensure a mix of highly skilled and experienced directors to ensure its governance is fit for purpose. As part of the Nomination Committee’s assessment process, the focus will be on candidates that, at a minimum:

• Understand the roles and responsibilities of a director of CMCU;
• Knowledge of CMCU, its business and the markets in which it operates;
• An understanding of the collegial nature of a board and the ability to function effectively in a collegial way
• A sound knowledge of the regulatory environment in which CMCU operates
• The ability to read and comprehend the company’s accounts, financial material presented to the Board, and financial reporting requirements
• An understanding of risk management principles and their application to CMCU operations
• The capacity and willingness to undertake continuous professional development and learning consistently with CMCU’s Board Renewal Policy
• The capacity and willingness to prepare and contribute to board meetings and deliberations
• Sufficient time to devote to the role
• No material conflict of interest

In 2024 a candidate must have the following additional competencies required to meet a desired skills mix on the Board:

• 3 years of experience at a senior-level in an Information Technology or digital strategy role; or
• Executive experience in an ADI.

Nomination Process

CMCU’s Constitution sets out the procedures governing the Director election process. Nomination forms, Fit and Proper Policy, Board of Directors Policy and copies of CMCU’s constitution are available from the Returning Officer.

A “Fit and Proper Person” test involves conducting checks with Bankruptcy Registers, ASIC and APRA Register of Banned and Disqualified Persons and Police Checks.

Nominations are invited from eligible members of CMCU to stand as candidates at the election. Nominations must be received by 5pm 11^th September 2024. Should you wish to nominate for a position, a nomination form may be obtained from the Yarrawonga branch or by calling (03) 5744 3713.