24/10/2024
NOTICE OF SPECIAL GENERAL MEETING
Fusion Credit Union welcome you to attend our Special General Meeting on Thursday 14th November @ 6.00pm using the online facility offered by the Association of British Credit Unions (ABCUL).
Reason for the meeting.
Members voted at the Special General Meetings earlier this year to merge with Citysave Credit Union. Unfortunately, upon submitting the required papers to the Financial Conduct Authority (FCA), an issue with the common bonds of both Credit Unions was identified, namely that Citysave’s had not been fully extended to include all of Fusions wording in respect of corporate accounts, and that references to Bromford Housing Association had to be removed from Fusion’s Common Bond since their Head Office is outside of the proposed new Common Bond Geographic limits.
(A Common Bond details the geographic area or details of employers that a credit union can offer membership to.)
Following consultations between Fusion, Citysave, ABCUL and the regulator, both credit unions will hold Special General Meetings to change their respective common bonds.
The Resolution before Fusion Members is as follows:
“Rule 7 Common Bond qualifications for membership
Remove any reference to Bromford Housing Association”.
(Please note that employees and family members of Bromford who live or work in Lichfield District will continue to be eligible for full membership. Current members of Bromford who are living or working outside the Lichfield District can remain as non qualifying members.)
This change has the full backing of your Board.
Once Common bonds have been changed to the Regulators satisfaction, then we can resubmit the paperwork to complete the proposed merger.
Below are the details of how to register for the Special General Meeting
Please take a couple of minutes to read through this email, so you understand how to register, join the meeting & take part.
We will be using the GoTo Webinar platform for the Special General Meeting, hosted by ABCUL, the Association of British Credit Unions, so everything is tried and tested!
Attending the meeting
Please click on the link below to ‘register’ with ABCUL before the meeting.
https://attendee.gotowebinar.com/register/6638139167794313047
Simply enter your First Name, Last Name, Email address & Credit Union Membership Number, then press the blue ‘Register’ button. All done! There is no cost to taking part.
You will receive a confirmation email immediately, from Jackie Littlewood at ABCUL, with a link to join the meeting.
Ahead of the SGM, you will be sent a reminder email and the link to join the Virtual AGM.
At the virtual meeting
At the start of the SGM, we’ll run through how the virtual SGM will work.
All Attendees will be ‘muted’ during the meeting.
During the meeting, you can 'ask virtual questions' at any time by typing in the 'Question' tab on your device. We will be monitoring questions throughout the Special General Meeting, and will either reply in the question area, raise your question during your Special General Meeting, or in some cases, respond afterwards.
Voting will be live in the Special General Meeting with instant results. The vote will be on screen, and members simply select their preference. We will hold a test vote at the start of the meeting, so everyone has the opportunity to practise!
Thank you for taking time to read these instructions. We look forward to welcoming you to our virtual SGM.
If you have any queries in the meantime, please do not hesitate to get in touch.
E mail [email protected] tel 01543 415032
