You are a member of the Credit Union, not a customer
Together, members create a community with a common goal; to help one another financially. Members savings are pooled together to create an opportunity for others to borrow affordably and fairly, either through loans or mortgages. The interest charged on lending contributes toward the Credit Union’s profits and surplus profits which are shared with members every year, in the form of a dividend. Dividends are usually paid following our Annual General Meeting (AGM).
The AGM is one of the most important days in the Credit Union’s calendar. It allows Directors and members to come together and have their say on what matters. Members of the Credit Union are entitled to a vote at the AGM as every member has one vote, regardless of how much they hold in savings. Voting gives you the chance to help make key decisions which could make a real difference to your Credit Union. We pride ourselves on being a mutual organisation and welcome members to become involved in our AGM’s.
Notice of AGM for 2023/2024
In accordance with Rule 79 of the approved Rule Book of No1 Police Credit Union Limited (trading as No1 CopperPot Credit Union) notice is given that the Annual General Meeting (AGM) will take place at Slater House, Oakfield Road, Cheadle Royal Business Park, Cheadle SK8 3GX at 1pm on Thursday 19th December 2024.
We will be publishing information regarding attendance, including an electronic option, with the agenda.
The meeting will consider
- The receipt of the accounts and balance sheet and of the reports of the Board of Directors and the auditor;
- The appointment of an auditor as recommended by the Board of Directors;
- The election of the Board of Directors;
- The application of surplus;
- Rule changes.
Proposed changes to rulebook
The following table shows the proposed rule changes which will be discussed at the 2024 AGM.
| Rule Number | Details of Changes/Amendments |
| Rule 56 | CURRENT RULE The Board of Directors shall determine from time to time the loan policy of the Credit Union which shall apply to all members. The loan policy shall include: 1.       The maximum loan amounts available to members; 2.       Any limits or requirements that may be attached to secured and unsecured loans; including loans secured on shares and loans with shares attached. 3.       Under what circumstances shares will be attached to a loan; 4.       The application procedure for loans.
PROPOSED CHANGES Change point 4 to clarify lending procedures are separate to the policy but conditions of lending are held within the policy.  PROPOSED RULE The Board of Directors shall determine from time to time the loan policy of the Credit Union which shall apply to all members. The loan policy shall include: 1.       The maximum loan amounts available to members; 2.       Any limits or requirements that may be attached to secured and unsecured loans; including loans secured on shares and loans with shares attached. 3.       Under what circumstances shares will be attached to a loan; 4.       Conditions for lending to members. Lending procedures shall be held separately from the policy.  |
| Rule 79 | CURRENT RULEÂ Members will be notified by the posting of a message, outlining the date, time and place of the meeting on the Credit Union website and by posters in the normal working offices of the Credit Union. The notices will be posted at least 14 days and no more than 3 months before the date of the meeting of members. Written notice shall be sent to the auditor. Â PROPOSED CHANGES Removed the need for poster to be put up in the Credit Unions offices.
PROPOSED RULE Members will be notified by the posting of a message, outlining the date, time and place of the meeting on the Credit Union website. The notices will be posted at least 14 days and no more than 3 months before the date of the meeting of members. Written notice shall be sent to the auditor. |
| Rule 100 | CURRENT RULE Each Officer shall retire at the third Annual General Meeting following their election. A Retiring Officer may immediately stand again for election. Normal tenure of office is three years however any Officer who only achieves a level set in the appraisal policy must retire at the Annual General Meeting relating to the year of appraisal. An Officer required to retire in this manner shall be eligible for re-election.
PROPOSED CHANGES Removed the need for an Officer to retire if they did not achieve the set level in the appraisal policy as this is no longer in line with policy.
PROPOSED RULE Each Officer shall retire at the third Annual General Meeting following their election. A Retiring Officer may immediately stand again for election. |
| Rule 111 | CURRENT RULE No business shall be transacted at a meeting of the Board of Directors unless a quorum is present at the commencement of the meeting. A majority of the number of the Directors in office at any time shall constitute a quorum. If from the time appointed for the meeting to commence a quorum is not present, then the meeting may be adjourned to any date not less than two nor more than 30 clear days from the day of the meeting at which the adjournment took place. The quorum for such an adjourned meeting shall be three directors or such greater number as the Board may determine by resolution.
PROPOSED CHANGES Updated quorum requirements to be more specific on the numbers required and that an Executive Director should be present. Changed the reconvened quorum to match the normal quorum.
PROPOSED RULE No business shall be transacted at a meeting of the Board of Directors unless a quorum is attained at the commencement of the meeting. 4 Non-Executive Directors and 1 Executive Director shall constitute a quorum. If from the time appointed for the meeting to commence a quorum is not achieved, then the meeting may be adjourned to any date not less than two nor more than 30 clear days from the day of the meeting at which the adjournment took place. The quorum for such an adjourned meeting shall be four directors, including an Executive Director, or such greater number as the Board may determine by resolution. |
| Points to note |
Director re-election
This year there are two directors who are up for re-election; Steve Morley and Richard Clarke. You can read more about both directors below.
| Steve Morley | Richard Clarke |
 |  |
| Steve has served on the Board of Directors since 2017 and was voted into the position of Chairman in 2021, after previously serving as Vice-Chair. He is a retired Police Officer from Leicestershire Police, and runs his own vending machine business. | Richard joined the Board in 2017. He is a retired Police Officer having served in the Metropolitan and Surrey Police and on secondment to UK Border Force. He is currently an investigator on the National Trading Standards Scams Team. |
Cheadle Royal Business Park,
Cheshire, SK8 3GX
