The OCUF Annual General Meeting was held April 28th in Toronto at the Westin Harbour Castle, preceding the Central 1 conference. It was good to see so many members in attendance as well as the many guests at the AGM.
Board Chair Dan Coldwell provided a recap of the past year. He spoke to the changing credit union landscape and the need for the Foundation to remain relevant to our members. He outlined the review process we went through, speaking with a large number of our stakeholders, to understand their needs and suggestions for future direction. It gave us the opportunity to inform and educate what the Foundation does and the services it can provide. Once the feedback was consolidated, our task was to determine a direction and focus that would resonate with our members and provide tangible value. “We hope that what you see in Clayton’s presentation will be the start of our efforts to be New, Different, and Better!”
Treasurer Dave Schurman gave his report on the finances. Highlighting Community Investment Fund balances had decreased, but Permanent Capital Fund and General Fund balances were up. Dave introduced Wayne O’Connell from Jones & O’Connell LLP to present the auditor’s report and financial statements.
Liisa Woolley advised we had three Director vacancies due to end of their term. She indicated we had advised the membership nominations were opened, with none received. Each of the incumbent Directors had agreed to stand for re-election, and were subsequently acclaimed. Congratulations to George De La Rosa, David Schurman and Mark Ventry.
Clayton Shold provided his report, starting with the fact we had changed the Foundations name to Ontario Credit Union Foundation effective January 1, 2016. He shared the new logo and brand colours. He advised the Board had changed the individual memberships to $20. Clayton explained the reason for discontinuing the matching program and introduced our new direction with our charitable activity. The new Youth Bursary program was established with a budget of $50,000 to provide bursaries to financially deserving students who are active in their communities. The interesting element was member credit unions are encouraged to brand the program under their credit union with OCUF showing as their partner. Deadline for applications is June 15th. Clayton went on to outline the services the Foundation provides and the opportunities for staff or board recognition.
Deanna Basso announced the Friends of the Foundation Award, presented this year to Tim Dauphinee and Jean Wansbrough. Joel Lalonde announced the winners of the Outstanding Corporate Achievement Awards, presented to both Alterna Savings and FirstOntario. Congratulations to both credit unions for the outstanding contribution you make in your communities.
Mark Ventry detailed our upcoming fundraiser, golf at Lionhead Golf & Country Club with Improve Your Business Skills for non-golfers on June 13th. Mark thanked our meeting sponsor, Concentra and after pulling numbers for door prized donated by Concentra, called for a motion to adjourn the meeting.