MISSION STATEMENT TO ENHANCE THE FINANCIAL WELL-BEING OF OUR MEMBERS
HISTORICAL TIMELINE OF THE JDFCU JDFCU Celebrated its 50th Anniversary
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Exceeded 1.3 Billion Dollars in Asset Base and was Awarded the Renford Douglas Credit Union of the Year Award in the Large Category
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Membership Exceeded 9000 Members.
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Total Staff Complement stood at 28
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2011 & 2010 2004 & 2007 JDFCU wins prize as Runnerup Credit Union of the Year - Medium Category
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In 2007 JDFCU Launches Youth Scholarship Award Programme. 3 Scholarship Recipients Benefitted
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Group of civilians from Up Park Camp, formed a study group led by Father McLaughlin and Mr. Tony Woods, to learn about the Credit Union Movement in Jamaica.
Awarded the Paul Thompson Credit Union of trhe Year Award in the Medium Category.
2004 & 2007
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1963-1973
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2013-2014
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December 19, 1963-the J.D.F Co-operative Credit Union was registered as a member of the Cooperative Societies of Jamaica. It began with total of 100 members, £662.16 and 1 Staff member.
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First AGM was held in January 1964.
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February 1964-JDFCU officially became a member of the Jamaica Co-operative Credit Union League.
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In 1973 membership grew to 1,500
1962
Content
Agenda .................................................................................................................................5 Financial Highlights..............................................................................................................6 Notice of Meeting & Minutes of 51st AGM.....................................................................8 - 11 Board of Directors’ Picture ..........................................................................................12 - 13 Board of Directors’ Report ..........................................................................................14 - 15 Treasurer’s Report .......................................................................................................16 - 19 Resolutions .........................................................................................................................20 Snapshots of Year 2014 .................................................................................................22 -23 Treasure Chest Youth Scholarship Awards 2014 Highlights........................................24 - 25 Financials .....................................................................................................................26 - 69 Letter: Department of Co-operatives & Friendly Societies Auditors Report Balance Sheet Income & Expenditure Statement Statement of Change in Equity Statement of Cash Flows Notes to the Financial Statement JDF-CU Loyalty Member Feature......................................................................................70 Management Team Pictures..........................................................................................72 - 74 Feature: Treasure Chest Scholar - Miriskha Ferguson.........................................................75 Meet the Staff 2014 ......................................................................................................76 - 82 Credit Committee Report .............................................................................................84 - 85 Nominating Committee Report.....................................................................................86 - 87 Supervisory Committee Report ...................................................................................88 - 89 Liaison Officers 2014..........................................................................................................90 Parliamentary Rules .....................................................................................................91 - 92 Obituaries ...........................................................................................................................93 Notes ............................................................................................................................94 - 95
Agenda 1. 2. 3. 4. 5. 6.
Ascertainment Of Quorum Notice Of The Meeting Call To Order And Prayer Chairman’s Opening Remarks Introduction of Guest Speaker Guest Speaker - Mrs. Georgia Morrison, Credit Manager – Credit Union Fund Management Co. 7. Reading And Confirmation Of The Minutes Of The 51St Annual General Meeting 8. Matters Arising 9. Reports : Board of Directors Auditor And Treasurer Credit Committee Supervisory Committee 10. Appointment Of Returning Officer 11. Election Of Officers Nominating Committee Report Elections To: Board of Directors Supervisory Committee Credit Committee 12. Resolutions 13. Recognitions & Awards 14. Other Business 15. Vote Of Thanks 16. Adjournment
JDFCU ANNUAL GENERAL MEETING 2014 | 5
FINANCIAL HIGHLIGHTS Net Surplus
Asset Base
14% $1.3 billion
Capital Base
15.9% $391 million
9.7%$66.8 million
Loan Portfolio
17% 1.1 billion
The JDF Co-operative Credit Union has overlapped the Billion Dollar threshold in 2013 and continued on its growth part in 2014. As at 31 December 2014 the JDFCU asset base stood at $1,305,530,563 an increase of 14% over the corresponding period last year. Our Loan Portfolio now stands at $1,102,117,602 which accounts for 84.1% of Total Assets and increased by 17% over 2013. It should be noted that our primary source of income is from this the Loans Portfolio. See Treasurer’s Report
Prayer of St Francis of Assisi Lord, make me an instrument of your peace; where there is hatred, let me sow love; where there is injury, pardon; where there is doubt, faith; where there is despair, hope; where there is darkness, light; and where there is sadness, joy. O Divine Master, grant that I may not so much seek to be consoled as to console; to be understood, as to understand; to be loved, as to love; for it is in giving that we receive, it is in pardoning that we are pardoned, and it is in dying that we are born to Eternal Life. Amen.
THE MINUTES
NOTICE OF MEETING Notice is hereby given of the 52nd Annual General Meeting of the Jamaica Defence Force Co-operative Credit Union Limited to be held on Thursday, April 16, 2015 at the JDF Military Museum and Library, Up Park Camp, Kingston 5 and beginning at 12.30 pm. ..................................... WO2 EVERTON HAY
Secretary
MINUTES OF THE 51ST ANNUAL GENERAL MEETING Held on Wednesday, 16th of April 2014 at the No. 1 Hockey Field, Up Park Camp, Kingston 5. CALL TO ORDER The meeting was called to order at 1318 hours (1:18 p.m.) by the President and Chairman Capt. Michael Anglin, after having ascertained that a quorum was satisfied. OPENING PRAYER Prayers were offered by Mrs. Elizabeth Brown-James, a member of the Supervisory Committee, followed by the Prayer of St Francis of Assissi, which was recited by all.
passed. The Chairman thanked the Secretary for the work that was done in preparing the minutes.
NOTICE OF MEETING The Notice was read by the Secretary, WO2 Everton Hay. CHAIRMAN’S OPENING REMARKS The Chairman welcomed guests and members of the JDF Cooperative Credit Union Limited and apologized for the absence of some specially invited guests. He then introduced members of the Board, the General Manager and volunteers to the audience. He further reiterated the purpose of the meeting and reminded attendees of their ability to elect representatives to serve them well.
REPORT OF THE BOARD OF DIRECTORS The Board of Directors Report was then delivered by the Chairman, who was reminiscent of the JDF Credit Union’s 50th Anniversary. He also made special acknowledgements of the Institution’s successes in technology, sponsorship of the JDF Cross Country Competition, asset base, Loyalty Programme and delinquency improvements.
MINUTES OF THE 50TH AGM The Secretary requested the motion to have the Minutes of the 50th Annual General Meeting taken as read. This was moved by Capt. Heleda Thompson, seconded by Col. Daniel Pryce and approved by the remaining members. CONFIRMATION OF THE MINUTES There being no corrections, a motion for the confirmation of the Minutes was moved and seconded by WO2 Yvonne Foster and Ms. Evett Barnes respectively. The motion was
MATTERS ARISING FROM THE MINUTES There were no matters arising from the Minutes. The Chairman then made special welcome as he introduced Mr. Charles Tam and Mrs. Patrina Grant-D’Aguilar of the Jamaica Co-operative Credit Union League.
The Report further alluded to the integration of the new Mobile Wallet application as a part of the Credit Union’s future services, which promises greater convenience for members by ‘on the go’ bill payment and merchant purchases. The Chairman concluded the Report and invited any questions or clarifications. There being none, a motion for acceptance was moved and seconded by L Cpl. Wint and Mrs. Foreman respectively. CREDIT COMMITTEE REPORT The Committee Chairman SSgt Paul Mckenzie reported that the members of the Credit Committee for the year under review were:
• • • • • • •
WO2 Delroy BELL-Chairman SSgt Paul McKENZIE-Secretary WO2 Henry WILLIAMS-Acting Secretary Maj Ezra BIGNAL-Member Capt Heleda THOMPSON-Member WO1 Linval LAWRENCE-Member Sgt Lukel MILLER-Member
He indicated that total loans in the amount of $133 million were issued for the year 2013 as outlined below; • Educational Loan...............................$2,703,511.48 • Home Improvement..........................$7,181,470.96 • Mortgage Loan...................................$15,639,147.73 • Furniture & Appliance........................$95,620.37 • Motor vehicle......................................$50,470,592.63 • Loan Refinancing...............................$4,374,283.57 • Legal Fee.............................................$285,477.77 • Unsecured...........................................$25,798,640.60 • Debt Consolidation............................$2,199,654.33 • Property...............................................$4,066,688.11 • Personal Loan.....................................$624,294.93 In concluding, SSgt McKnenzie expressed special appreciation to Maj. Ezra Bignal who, along with himself, were retiring. Notice of WO1 Delroy Bell’s termination as Credit Committee Chairman was also given. He however indicated WO1 Bell’s desire to remain as a Committee member. A motion for the Credit Committee’s Report to be accepted was moved by Cpl. Campbell, seconded by LCpl. Whyte and accepted by members. SUPERVISORY COMMITTEE REPORT The Committee Chairman SSgt Girlet Bernard reported that the members of the Supervisory Committee for the year under review were: • • • • • • •
SSgt Girlet BERNARD-Chairman Sgt Edward PRYCE Sgt Clevelend SMITH WO2 Barbara VAUGHNS Sgt Garfield TOPEY Mrs Elizabeth BROWN-JAMES-Secretary Miss Viviene MITCHELL
She further outlined the role of the Supervisory Committee as well as those areas examined by the Committee over the year, towards strengthening the Credit Union processes. The areas listed were bank reconciliation, cash and vault checks, securities, investment instruments, verification of loans, active/inactive member accounts, staff accounts, statutory payments, member complaints, staff operations and delinquency.
After concluding, invitations for queries on the report were extended to the audience and thereafter a motion for acceptance on the report was made. This was moved by Ms. Marcia Lewis, seconded by Ms. Judith Salmon and accepted by the members. GUEST SPEAKER The Chairman invited Maj. Clifton Lumsden to introduce the Guest Speaker Mrs. Yaneek Page, founder and Managing Director of Future Services International Limited. Maj. Lumsden outlined her numerous accomplishments, before welcoming Mrs. Page to the podium. Her speech was centered on how to achieve financial success in a challenging economy. She shared ten tips on managing one’s personal resources which were: • Change one’s way of thinking that focuses on hindrances, • Write down specific goals rather than just thinking about them • Critically assess one’s situation in terms of investing in those assets that appreciate • Confide in an expert whose focus is to find solutions for one’s goal rather than selling a product • Create a sound plan that allows one to take calculated risks • Prioritize spending • Plan for children • Have a pension plan • Plan for future risks • Use free/available resources as self-help for your specific goal areas. Acknowledgment and thanks to Mrs. Page was done by the Chairman. AUDITOR’S REPORT The Chairman introduced Mrs. Patricia Daley-Smith, from the Auditing Firm, KPMG, who presented the Credit Union’s Auditor’s Report. Mrs. Smith’s presentation discussed the role of the Auditors Report, as well as to declare the financials of the JDF Credit Union as being in accordance the standards of the Co-operative Societies Act. The Chairman expressed appreciation for the Auditors’ Report. TREASURER’S REPORT The Chairman then called on the Treaurer, Maj. Oneil Bogle to give his Report. He affirmed the Credit Union’s financial achievements for 2013, with its asset base of over $1.1 billion as at December 31, 2013, 16.7% growth in capital base over 2012 (standing at $337.9M as at December 31, 2013), growth in loans of 22.2% over 2012, savings growth of $45.7M (13.7% increase over 2012), voluntary members shares of $264.8M (a 0.4% above 2012), surplus of
JDFCU ANNUAL GENERAL MEETING 2014 | 9
THE MINUTES CONT $60.6M (compared to $59.3M in 2012) and the 3.6% loan interest income increase over 2012. Notably, Maj. Bogle also mentioned the Credit Union’s shortcomings in some area. These were: a decrease in interest earned on investment in 2013 ($5.43M compared to $5.52M in 2012) and a 1.6% increase in operating expenses (from $71.1 mil in 2012 to $72.3 mil in 2013). The Treasurer concluded with thanks, particularly to the Credit Union’s management team and staff for its success thus far, and invited a motion for the Report to be accepted. The motion was moved, seconded and passed by Ms. Barbara Spencer, SSgt. Bernard and members respectively. APPROPRIATION OF SURPLUS The Chairman followed Maj. Bogle’s Report with a proposal of the first Resolution, the Appropriation of Surplus for the incoming year which was allocated as: 30% payment of dividends on Permanent Shares (total $3.4M), institutional capital 12.3M., honoraria payment of $1.7M, marketing & promotions at $2 M, donations $2 M, Treasurer Chest Scholarship $1.5 M, enhancement for IT portfolio at $3 M; Disaster Relief Fund at $1M, an unsecured reserve of $40 M, and other reserve at $150,000. No counter-proposals were made and as such, this proposal was moved by the Treasurer, Major Bogle, seconded by the Secretary WO2 Hay, and passed by the members. PRESENTATIONS The Chairman then welcomed Mrs. Janice Blake, the Credit Union’s Marketing & Member Relations Manager and Mrs. Katrina Grant from JCUES to make their respective presentations. Mrs. Blake’s presentation was centered on the institution’s willingness to assist members with their saving goals, especially long term goals. She highlighted that the JDF Credit Union offers attractive interest on savings and investments from 4.00% per annum up to 8.5% per annum, as is the case of its Deferred Shares product. Mrs. Blake’s presentation was followed by Ms. Katrina Grant, Business Relationship Executive at the Jamaica CoOperative Credit Union League to make her presentation on the soon to be launched JCUES product. Her delivery revealed that the Jamaica Co-operative Credit Union Limited E-Payment Services (JCUES), came about through a partnership with the Credit Union League and Mozido International. She explained that the application is aligned with members’ accounts and will offer them 24 hour access to their accounts through their handheld devices or personal computers. The Chairman thanked Mrs. Blake and Mrs. Grant for their deliveries. ELECTION OF OFFICERS The Chairman then invited Ms. Lyttle, appointed Election Officer, to conduct the election of those members for the
various Board and Committees posts. Ms. Lyttle proceeded to acknowledge the Nominating Committee, which included WO2 Everton Hay as Chairman, Mrs. Marva Goldson-McGregor (staff member) and Sgt. Lukel Miller as Secretary. She read the list of non-retiring Board Members including Capt. Michael Anglin, Maj. Clifton Lumsden, Maj. Oneil Bogle, Sgt. Andre Shakespeare and WO2 Everton Hay. The Credit Committee members who were retiring were announced as WO2 Delroy Bell, Maj. Ezra Bignal, WO1 Lynval Lawrence, and SSgt. Paul McKenzie. The nonretiring members from the Committee announced were Capt. Heleda Thompson, WO2 Henry Williams and Sgt. Lukel Miller. She further gave acknowledgement to members of the Supervisory Committee who were retiring: WO2 Barbara Vaughns, Sgt. Garfield Topey, Sgt. Edward Pryce, Mrs. Elizabeth Brown-James and Miss Vivienne Mitchell. Other members of the Committee who were recommended to serve an additional year were: Maj. Courtney Dunkley, WO2 Steve Wallace, SSgt. Girlet Bernard, Sgt. Garfield Topey, Sgt. Carlene Sutherland, Mrs. Elizabeth Brown-James and Ms. Faye Tomlinson. Following these acknowledgments were the announcement of the newly elected Board of Directors. These individuals were Lt. Col. Radgh Mason, Lt. Kwame Gordon, SSgt. Lenearth Anderson and Mrs. Donna Marie Brown, who will all serve a two year period. Ms. Lyttle then asked the audience for any nominations to the Credit Committee from the floor. There being none she proceeded to list those individuals who were nominated before. These persons were: WO2 Errol Beckford, Sgt. Gary Young, Sgt. Cleveland Smith and Maj. Garth Anderson, who will all serve on the Committee for two years. Open nominations for the Supervisory Committee were likewise waived by the general audience, and as such those previously nominated were proposed: Maj. Courtney Dunkley, WO2 Steve Wallace, SSgt. Girlet Bernard, Sgt. Garfield Topey, Sgt. Carlene Sutherland, Mrs. Elizabeth Brown-James and Miss Faye Tomlinson who will all serve for a one year period. The motion for this proposal was moved by Mrs. Carol Davis-Hunter, seconded by WO2 Henry Williams and accepted by the members. Ms. Lyttle’s nominations were lauded by the Chairman. RESOLUTIONS The Chairman brought to the attention of the Meeting, the other Resolutions on the Agenda. He commenced with the second resolution, which was a proposal for the official removal of the pass book and pass book transactions from the Credit Union’s Rules. The specific amendment was as stated below:
“BE IT RESOLVED that Rule Number 22 be deleted and Rule Number 21 be amended to read as follows: Money paid in or paid out on account of shares, deposits, loans interest, entrance or transfer fees or other savings shall be evidenced by an appropriate voucher or receipt. Each voucher or receipt or entry in the pass book shall identify the person receiving or paying out, on behalf of the credit Union, the money represented thereby. When a statement of account plan is used, the members permanent official record for the transactions shall be the statement of account, which will itemize all transactions and which must be issued to each member at least half yearly or upon request.” The motion for this amendment was moved by Ms. Pauline Laing, seconded by Sgt. Dwight Smith and carried by the members. He thereafter highlighted the third resolution which dealt with attendance of Board and Committee members to scheduled meetings. It read: “WHEREAS Rules Number 49 does not address the attendance of Committee Members and WHEREAS the Credit Union has a responsibility to ensure that Committee Members attend and contribute to the duties of the committee on a regular basis. BE IT RESOLVED that the following be inserted as Rule Number 49(iv) to read as follows: Any member of the Board or Committees who without due excuse approved by the Board or Committee fails to attend three (3) consecutive regular meeting of the Board or Committees, shall be deemed to have vacated his office.” The motion for this proposal was moved by Mrs. Davis-Hunter, seconded by WO2 Henry Williams and carried by the members. The Chairman then pointed to the fourth resolution which referred to a previously removed Rule Book policy given below: “WHEREAS Rules number 69 Refer to Rule 19(ii) and WHEREAS Rule Number 19(ii) was previously deleted. BE IT RESOLVED that Rule 69 be amended to read as follows: All disbursements of funds of the Credit Union except as provided in Rule 19 shall be made by cheque or other written instrument, signed by such duly authorized person(s) as the Board of Directors may by resolution from time to time determine.”
shares, deposit and/or loans from any source on such terms of payment and/or security, provided that the total liability shall not exceed a ratio of sixteen (16) times the Society’s Capital.” A motion for the proposal was moved by Maj. McGowan and seconded by Ms. Vivienne Mitchell. PRESENTATION OF SPECIAL AWARDS The Chairman then called on the Credit Union’s General Manager, Mrs. Patricia Tomlinson to make presentations in honour of retiring volunteers who had served the Credit Union. Citations and tokens were awarded to these individuals with the assistance of Mrs. Marva McGregor, the Loans Manager. The awarded persons were SSgt. Paul McKenzie, WO2 Chester Bennett and WO1 Delroy Bell. Mrs. Tomlinson’s presentation was acknowledged by the Chairman. He once again opened the floor for any questions or concerns the audience may have. There was none. The Chairman then reminded members of the Credit Union’s Treasure Chest Youth Savings product and its flexibility in assisting parents with any child-related goals or expenses. He also called back Mrs. Blake, the Marketing Manager to the podium, where she awarded celebratory gifts to members of the audience. VOTE OF THANKS Miss Tahnee Traylor, the Human Resource Manager moved the Vote of Thanks for the ceremony. ADJOURNMENT There being no other business to be discussed, the meeting of the 51st Annual General Meeting of the Jamaica Defence Force Co-operative Credit Union Limited was adjourned at 1715 hrs (5:15pm).
------------------------------WO2 EVERTON HAY Secretary
The motion for this proposal was moved by Maj. McGowan and seconded by LCpl. Gregory. Following this, the Chairman requested a count to have the above resolutions (second, third and fourth) deemed accepted or rejected which received a 95% approval or 112 out of 117 votes. Pursuant to this, the Chairman brought forward a fifth resolution, the Fixing of Maximum Liability, which relates to the maximum amount of funds the Board of Directors was allowed to borrow. The resolution was as follows: “The Board of Directors may incur a liability in voluntary
JDFCU ANNUAL GENERAL MEETING 2014 | 11
The Board of Directors Seated Left-Right: • Lt. Col. Radgh Mason -President • Maj. Michael Anglin -Vice President ..................................................................... Standing (Left-Right): • Sgt. Andre Shakespeare -Assistant Secretary • Lt. Kwame Gordon -Director • Maj. Clifton Lumsden -Treasurer • WO2. Everton Hay -Secretary • SSgt. Lenearth Anderson - Director • Mrs. Donna Brown -Director • Capt. Andres Pierce -Asst. Treasurer (Missing)
JDFCU ANNUAL GENERAL MEETING 2014 | 13
THE BOARD OF DIRECTORS’ REPORT L
iving true to our mission, “To enhance the financial well-being of our members,� your Credit Union has enjoyed yet another good year of performance notwithstanding the financial challenges in the business environment. My duty in this Report is to communicate to the membership the key areas of our performance and to chart the way forward for the organisation. The success of the JDF Credit Union is directly related to the commitment of the membership as a whole. It is for this simple reason that we must continuously engage with the membership so that there is clear understanding of the measures that we must take now and in the future.
ENVIRONMENTAL FACTORS
The membership pool is limited to the current bond of largely government salaried employees who have not had a salary increase in five (5) years. The disposable income is further impacted by the continuously increasing cost of living over the period. The Credit Union faces strong competition from the banking sector and also from other credit unions, which in some instances; have merged and expanded their membership to accommodate a much greater number of persons including some from our own membership pool. It is therefore particularly important for our members and other stakeholders in the JDF community to be reminded of the tenets of the movement so as to encourage the continued investment in our own business. The earnings of the credit union belongs to the membership and our policies and investments continue to be in the interest of extending wealth to the membership and the further strengthening of this business. We conducted our surveys and ensured that our interest rates on loans and deposits, and our service charges were better than the rates in the wider market. We cannot over-emphasize the need for us to continue to pool our funds and thereby benefit from the consolidated returns and a strong future for our families.
STRATEGIC DECISIONS
Strategic decisions have been taken to further solidify the gains already achieved. We propose to extend and penetrate the membership pool to include other Co-operatives, relatives, and affiliates of the JDF and JDF Credit Union. This will increase the potential market and provide new business and growth opportunities. We have moved to restructure the organization and better train and compensate our staff. The structure and reporting system of the Board of Directors has been reshaped to allow for better decision-making and tracking of the objectives. This will create better customer service, planning and forecasting, and increased accountability. We have moved to develop a comprehensive marketing plan to reach more persons as part of the bond, educate our members, and inculcate a savings culture among our members. The plan will be aimed at directly engaging the membership and targeting selected groups. We will also partner with the JDF Sports Board and other affiliates to promote and engage with the
membership through sports and benevolent activities. We have upgraded our computer-based management information systems and technology to deliver better accessibility to members’ accounts and enable protection from fraud. We have curtailed our expenses in spite of the overall increase in the cost of inputs. We have also refitted the building with LED bulbs and inverter air conditioning units to ensure savings on our utility bills, which previously added approximately $1.2 million dollars in expenses. Another investment is in legacy projects, the most recent being the refurbishment of the JDF Medical Company reception area which was a joint project with HQ JDF that received contributions exceeding $1.5 million dollars. We will continue to engage in these projects which continue to improve the lives of the general membership and our families. The JDFCU has also increased our rates on savings and deposits, implemented competitive rates of interests on loans and will be investing and broadening the scope of services and target products. Your credit union is poised for growth and to ultimately increase your wealth! The fundamentals of the credit union movement require persons of like professional circumstances to save together, appoint and require accountability of the Board of Directors and to benefit from the sustained earnings of the business. This is the model of success that we have taken charge of and have delivered on the awesome responsibility.
BOARD MEMBERS ATTENDANCE RECORD (REGULAR MEETINGS)
Board Members
Possible
Attended Absent with Apology
Lt Col RADGH MASON
12
12
0
Maj ONIEL BOGLE
06
03
03
Capt MICHAEL ANGLIN
12
10
02`
Maj CLIFTON LUMSDEN
12
12
0
WO2 EVERTON HAY
12
11
01
Lt KWAME GORDON
12
08
04
Ssgt LENEARTH ANDERSON
12
12
0
Sgt ANDRE SHAKESPEARE
12
09
03
Mrs DONNA BROWN
12
11
01
Capt A PIERCE
05
03
02
We have done our homework and continue to be very proactive in our planning to mitigate the various challenges. We have invested in systems to safeguard the strength and integrity of the organisation and improve on the infrastructure to provide first class service. Thanks for your commitment to the cause and continue to “Invest in Yourself by Investing in Your Credit Union.”
PERFORMANCE
Total Assets increased from $1.144 to $1.305 billion or approximately 14%. Our liquid (earning) assets increased from $108.1 million to $111.8 million or approximately 3.4%. Our financial investments increased from $42.0 million to $48.4 million or 15.2% and our loans to members increased from $943.7 million to $1.102 billion or approximately 16.78%.
“extending wealth to the membership and the further strengthening of this business. “
Our overall net income for the period increased from $60.63 million to $66.83 Mil or approximately 10.2%. We have also met our targets with respect to asset growth and loans. To achieve growth in savings, membership activity and keeping operating expenses in check, the hard work will be intensified. Despite the environmental factors mentioned previously, we indeed have done well!
Radgh Mason Lieutenant Colonel
MARCHING FORWARD
The JDF Cooperative Credit Union is blessed with a dedicated staff and committed volunteers. The organisation continues to grow and ranks amongst the best in the world. In 2014, we were the proud recipient of the 2013 Renford Douglas Credit Union of the Year Award in the large category, after having attained an asset base of over 1 billion dollars.
JDFCU ANNUAL GENERAL MEETING 2014 | 15
THE TREASURERS’ REPORT OVERVIEW OF THE ECONOMY A Jamaican economy beset by an environment featuring a debt exchange, an IMF Extended Fund Facility arrangement, fluctuating world oil prices, little or no growth in the Jamaican economy, entrepreneurs intent on making a return on investments amidst higher security and electricity costs and significant economic fallout from the closure of much of the Bauxite Alumina sector can at best, be described as an economy in transition. The successful implementation of another Debt Exchange whereby holders of Jamaican Dollar Bonds partnered with the Government of Jamaica heralded a new cooperation among Jamaicans never seen before. A wage freeze accepted by Public Sector workers, significantly reduced Capital Projects expenditure by the Government and tighter fiscal management and prudence with a reduction in expenses and ultimately expenditure has become a norm for Jamaicans. This prudence I hope will continue for the greater good of all Jamaicans and that of the Jamaican economy. With all the expected foreign direct investments on the horizon namely, the construction of a Logistics Hub, hotel construction, road improvements, increased Tourist arrivals and stopovers, the revitalization of the Bauxite Alumina Sector, plans afoot to reduce the reliance of the Jamaican economy on very expensive importation of oil and finally increased agricultural activities and the investments in the production of the various by-products and services therefrom, it is expected that the Jamaican economy will experience some level of growth in the very near future. An IMF Extended Fund Facility approved in May 2013 continues. It is expected to stabilize the Jamaican economy, reduce internal and external debt and create favourable conditions for economic growth. Happily for us, the economy has shown marginal signs of growth in 2014. Most importantly the Government of Jamaican has been successful in passing all six (6) quarterly IMF tests set over the period 2013 to 2014. Notably, inflation rate for 2014 ended at 6.4% compared to 9.5% for 2013, notwithstanding the declining global world oil price reduction not fully reflected in local prices and felt directly by consumers. Local Interest rates continue to hover between 6.5% and 9.5% for 30 day and 180 day instruments, respectively, up over the previous year.
PERFORMANCE As Treasurer, I am very pleased to announce that the JDF Co-operative Credit Union recorded another year of positive growth, in spite of the fiscal and other constraints highlighted above. Notwithstanding all the challenges experienced by our members and by extension our business, our credit union was still able to realize a surplus over the financial year which ended 31 December 2014. This achievement was hinged on a very aggressive and ambitious set of Strategic Objectives and Performance Targets. Plus the diligence and hard work of the stakeholders, chief amongst them, you our invaluable members.
Performance Metrics
ACTUAL 2013
TARGET 2014
ACTUAL YTD 2014
115
130
116.08
1.14
1.3
1.31
Operating Expenses/ Average Assets, % Increase in the Value of the Loan Portfolio, $M
10.18%
8.50%
10.83%
943.71
1,166.89
1,102.12
Increase in the Value of the savings Portfolio, $M
643.12
718
679.45
Total Value Added to Members (via Savings, Loans, Fees and Surplus), $M Total Assets, $B
These objectives and targets as illustrated above were monitored and reviewed over the reporting period to ensure that we remained competitive and relevant in the local marketplace.
ü Capital Risk taking by Credit Unions is usually mitigated by the sufficiency of Capital adequacy. Institutional Capital is an accumulation of monies set aside from the usual annual appropriation of funds retained as regulatory reserves. The capital base experienced a 15.9% growth over 2013, and at 31 December 2014 stood at $391,338,270.
Your JDF Credit Union continues to boast on the fact that we offer the best and most competitive suite of products and services you can find anywhere on this island. But in particular, this credit union offers the highest savings rates in the current financial sector at 9% per annum.
FINANCIAL HIGHLIGHTS Some of the results are highlighted below; note keenly some of the significant financial accomplishments, of the JDFCU as they appear in our Balance Sheet and the Income and Expenditure Accounts, respectively:
ü Liabilities As the disposable income of our members decreased so did members’ savings. Notwithstanding, the JDFCU was able to encourage and realize a marginal increase in members’ savings through a few innovative products. The net results of the offerings stood at $679,450,000 or 5.67% increase over 2013.
ü Asset base As you are all aware, the JDFCU overlapped the billion dollar threshold in 2013 and continued on its growth part in 2014. As at 31 December 2014 the JDFCU’s asset base stood at $1,305,530,563; an increase of 14% over the corresponding period last year. Our Loan Portfolio now stands at $1,102,117,602 which accounts for 84.1% of total assets and increased by 17% over 2013. It should be noted that our primary source of income is from this the Loans Portfolio.
On the other hand, members’ Voluntary Shares stood at $297,977,762 or 12.5% above 2013. Years
Total Income
Total Expenses
Net Profit
2009
95,917,516.00
59,971,301.00
35,946,215.00
2010
129,932,851.00
80,478,573.00
49,454,278.00
2011
136,136,411.00
86,392,332.00
49,773,079.00
2012
161,424,067.00
103,575,258.00
59,328,809.00
2013
169,473,352.00
108,839,253.00
60,634,099.00
2014
200,854,611.00
134,020,316.00
66,834,295.00
JDFCU ANNUAL GENERAL MEETING 2014 | 17
THE TREASURERS’ REPORT cont’
ü Income and Expenditure Account The Credit Union realized a surplus of $66.8M in 2014 compared to $60.6M in 2013. This increase represents an increase of 9.7% over the previous period. The surplus was realized from gross income of $154,906,618 which was $25,245,530 more than the $129,661,088 achieved in 2013. ü Loan Interest Income As a result of our constant review of the marketplace so as to remain competitive, this portfolio increased by 19% or by $23,707,233 over 2013. ü Interest earned on Investment The JDFCU recorded an increase during the period under review. The amount earned in 2014 was $6,973,667 compared to $5,435,370 earned in 2013. The increase was occasioned by an increasing demand for loans and our efforts to satisfy them. ü Operating Expenses Total Operating Expenses increased from $72,388,571 to $84,525,451 or 17% over the corresponding period last year. Please note that emoluments and staff costs accounts for 61.7% of our total Operating Expenses. In fact, there was a 15% increase in emoluments and staff costs which were $6,828,626 over 2013.
Table 1 (right) is a simplified version of our Income and Expenditure Statement for the periods ended December 2014 and December 2013.
Table 2 (below) is a graphic representation of the results of our performance on the PEARLS Ratio
Asset Growth liquid Inv (9 mths) Net Income/Avg Asset Loan Income/Portfolio Non-Earning Assets/Assets Inst Capital/Assets Savings/Assets
0.00%
10.00%
20.00%
30.00% Pearls
40.00%
50.00%
60.00%
2014
The Way Forward
Acknowledgement
Your JDF CU is buoyed by the looming prospects expected in what is hoped will be an emergence of a sustainable and growing Jamaican economy. The JDFCU stands ready and committed to the continued building of a solid base on which to launch any new opportunities, position us for future business growth coupled with the support associated with our diversified business model.
Kudus are in order for our visionary team consisting of Volunteers, management and staff which collectively and consistently accounts for the success of the entity. Without their insight, diligence, governance and commitment the JDFCU objectives and targets which resulted in the more than commendable performance for the year just ended 31 December 2014 could not have been met.
From our 2014 results it is abundantly clear as to our commitment to the delivery of sustainable and profitable going concern.
On behalf of the Board, Volunteers, Management and Staff of the JDFCU, let me extend my wholehearted and sincerest gratitude to you our invaluable members, as your demonstration of confidence, loyalty and trust in the JDFCU has not gone unnoticed.
At our recently concluded Strategic Planning Retreat, it was decided that a Bond extension would further facilitate the levels of growth and development envisaged for the JDFCU going forward. Therefore in the ensuing year, greater effort will be made not only to penetrate but to widen the current Bond. I have always argued that this niche market called the JDFCU possess great potential. It took us just about 50 years to become a Billion Dollar entity. Let us collectively “March Forward Building Wealth� and aim for another Billion in less than a quarter of 50 years. Rest assured, the JDFCU will continue to be that safe heaven where we can all feel confident that it is the institution of choice for all its members to grow financially.
..................................... Major Clifton C. Lumsden, JP Treasurer
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RESOLUTION # 1 Proposal for the Appropriation of Surplus Undistributed Surplus Net Surplus for the Year Gross Available for Distribution Previous Year Commitment Net Available for Distribution
86,758,404 66,834,295 153,592,699 57,219,756 96,372,943
Distribution
Dividend Permanent Shares (30%) Institutional Capital Honararia Payment Treasure Chest Scholarship IT Enhancement Disaster Relief Fund Reserve for Unsecured Loan Other Reserve Total Distribution
3,899,000 13,089,967 1,969,000 1,000,000 3,500,000 1,000,000 30,000,000 2,567,000 57,024,967
Undistributed Surplus
39,347,976
RESOLUTION # 2 Rule # 71 – Power to Borrow Proposal for the Fixing of Maximum Liability up to December 2015 The Board of Directors may incur a liability in voluntary shares, deposit and /or loans from any source on such terms of payment and /or security, provided that the total liability shall not exceed a ratio of sixteen (16) times the Society’s Capital.
2014 Large Credit Union of the Year Award
JDFCU Sponsors Refurbishing of JDF Medical Centre Waiting Area
AGM HIGHLIGHTS 2014
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JDFCU TREASURE CHEST YOUTH SCHOLARSHIP AWARDS 2014
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JDFCU
MEMBERSHIP
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SPOTLIGHT ON MIRISHKA FERGUSON, JDFCU TREASURE CHEST YOUTH SCHOLARSHIP AWARDS PROGRAM RECIPIENT “The scholarship has contributed to helping me purchase items for school such as textbooks and towards paying for my school fees. Knowing that I’ll get the support from the JDFCU through this scholarship programme has motivated me to keep doing well in my academics, in order to meet the requirements to gain and maintain the scholarship, and as a result of this I was an honour student for three (3) years. Thanks to the JDFCU, my desire to go into medicine can be achieved with the financial assistance, I’ve been working very hard to make that dream a reality and work in that field.”
The JDFCU Treasure Chest Youth Scholarship Awards Program established in 2007, has awarded over 147 scholarships to children of our members, knowing that investing in their education is investing in the future of their families, communities and nation. JDFCU ANNUAL GENERAL MEETING 2014 | 75
FROM LEFT: Georgia Cornwall- Accounting Officer Howard Powell - Finance Manager Shackeria Williams - Accounting Clerk Karlene Pitter-Cooper - Internal Auditor
FROM LEFT:
Patricia Tomlinson - General Manager Sonia Clarke - Office Attendant Tahnee Taylor - H.R. & Admin Manager Frances Collie - H.R & Admin. Assistant
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FROM LEFT: Marva McGregor- Loans Manager • Clarine Bogle - Loans Clerk • Tricia Laylor - Loans Clerk • Marsha Segree-Booth -Loans Officer • Jason Stewart - Senior Loans Clerk • Missing: Maricia Cain-Williams -Collateral & Delinquency Officer
FROM LEFT: Alvin Reid - IT Manager Garth Beckford - IT Support Officer
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FROM LEFT: Melissa Brown-Morgan- Member Service Representative, Annette Senior- Member Service Representative, Marsha McGowan, Operations Manager, Marsha Morris-Barthley, Senior Teller, Rodraine Gibson - Teller, Monique Russell-Teller, Charlene Smith - Teller JDFCU ANNUAL GENERAL MEETING 2014 | 81
LEFT: Allison Pessoa Risk & Compliance Officer RIGHT (L-R): Janice Blake -Marketing & Member Relations Manager, Camille Minott - Marketing Assistant
Errol
BECKFORD
Warrant Officer Class 1
Henry
WILLIAMS
Warrant Officer Class 2
Garth
Heleda
Cleveland
Captain (Chairperson)
Sergeant
THOMPSON
ANDERSON Major
CREDIT COMMITTEE
Members of the Credit Committee for the year under review are:
Captain Warrant Officer Class 2 Major Warrant Officer Class 1 Staff Sergeant Staff Sergeant Sergeant
Heleda Henry Garth Errol Lukel Gary Cleveland
THOMPSON WILLIAMS ANDERSON BECKFORD MILLER YOUNG SMITH
-
Chairperson Secretary Member Member Member Member Member
SMITH
Missing: Staff Sergeant Lukel MILLER Staff Sergeant Gary YOUNG
CREDIT COMMITTEE REPORT The Committee met on April 23, 2014, as required after being elected at the 51st Annual General Meeting of the Jamaica Defence Force Co-operative Credit Union which was held on April 16, 2014, where I, (Captain Heleda Thompson) was elected as Chairperson and WO2 Henry WILLIAMS as Secretary. 2014 was a challenging year for the JDFCU, similarly to other financial institutions, but we explored many creative and innovative ideas to ensure that the needs of the members were met satisfactorily. During the year under consideration the Committee noted a decline in the number of loan applications that required the Committees’ approval, for example, there was a nil report in one month. A large number of the applications that were presented to the Committee were for waivers to be granted. Below is a breakdown of loans seen and approved by the Credit Committee during the past year: The $111 million shows an overall decrease in the value of the loan applications when compared with the $133 million for the previous year. This however will be improved with the Credit Union exploring even more areas of opportunities to benefit and
Total Loan Approved $111,135,732.52 MOTOR VEHICLE PURCHASE
$50,311,119.93
DEBT CONSOLIDATION
$27,848,762.60
SECURED LOANS
$15,856,676.37
UNSECURED LOANS
$11,430,447.26
MORTGAGE
$4,522,500.00
HOME IMPROVEMENT
$736,306.54
TRAVELLING EXPENSE
$429,919.82
enhance our members’ financial standing. The Credit Committee takes the opportunity to express our deepest gratitude to the Board of Directors, Supervisory Committee and the Members of Staff of the Jamaica Defence Force Co-operative Credit Union for the guidance and assistance they provided and for affording us the opportunity to serve the Credit Union in this capacity. Special thanks to my Committee for their dedication and hard work throughout the year and for their commitment in ensuring that our members’ needs were met in a timely and professional manner. To you the members, we express gratitude for all the confidence placed in the Committee in serving you over the past year in our capacity as Credit Committee volunteers. Our wish to you is for a sound financial future, as we at the JDFCU endeavour to enable you to achieve this as we continue to grow and develop.
.............................. Heleda THOMPSON Chairperson Credit Committee
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NOMINATING COMMITTEE REPORT REPORT OF THE NOMINATING COMMITTEE TO THE 52ND ANNUAL GENERAL MEETING OF JAMAICA DEFENCE FORCE CO-OPERATIVE CREDIT UNION LTD.
In accordance with the provisions of Article X11, Rule 62, the Board of Directors of The Jamaica Defence Force Co-operative Credit Union Limited appointed a Nominating Committee, comprising the following persons: Lieutenant Kwame Gordon -Chairman Mrs. Patricia Tomlinson -General Manager Miss Allison Pessoa -Staff The Committee Reports is as follows: Directors and Committee Members retiring at this Annual General Meeting and the nominees proposed are:
BOARD OF DIRECTORS RETIRING Maj Michael Anglin Maj Clifton Lumsden Sgt Andre Shakespeare W02 Everton Hay Capt Andres Pierce NOT RETIRING UNEXPIRED TERM Lt Col Radgh Mason 1 year Lt Kwame Gordon 1 year SSgt. Lenearth Anderson 1 year Mrs. Donna Marie Brown 1 year RECOMMENDED TERM Maj Michael Anglin 2 years Maj Clifton Lumsden 2 years Capt Andres Pierce 1 year Sgt Andre Shakespeare 2 years W02 Everton Hay 2 years
CREDIT COMMITTEE RETIRING Capt Heleda Thompson WO2 Henry Williams SSgt Lukel Miller NOT RETIRING UNEXPIRED TERM WO1 Errol Beckford 1 year Sgt Cleveland Smith 1 year SSgt Gary Young 1 year Maj Garth Anderson 1 year RECOMMENDED Cpl William Gilzeane Capt Michael Deans WO2 Hamroy Roberts
TERM 2 years 2 years 2 years
SUPERVISORY COMMITTEE RETIRING Maj Courtney Dunkley WO2 Steve Wallace SSgt Carlean Sutherland Mrs. Fay Tomlinson SSgt Girlett Bernard Sgt Garfield Topey Mrs. Elizabeth Brown-James RECOMMENDED TERM Maj Maxwell Gordon 1 year Miss Judith Salmon 1 year Sgt Courtney Williams 1 year Maj Courtney Dunkley 1 year WO2 Steve Wallace 1 year SSgt Carlean Sutherland 1 year Mrs. Fay Tomlinson 1 year
DELEGATES
The Nominating committee recommends that the Board be authorized to appoint the Delegates and Alternate Delegates to represent the credit union at the various forums where appropriate.
PROFILE OF NOMINEES
BOARD OF DIRECTORS
Major Michael Anglin Major Michael Anglin has been a member of the JDF Credit Union since March 1995 and has been a volunteer since 1998, initially serving on the Credit Committee and now on the Board of Directors. He holds a Diploma in Supervisory Management (MIND), Certificate of Merit in Paralegal Training, Certificate in Public Administration and a Bachelor of Science Degree in Human Resource Management. Major Clifton Lumsden Major Clifton Lumsden has been a member of the JDF Credit Union for twenty-three (23) years and a member of the Board of Directors for over twelve (12) years. He served on the Supervisory Committee for four (4) years and is currently the Treasurer of the Board. Maj Lumsden holds a Certificate in Management and a Bachelor of Science Degree in Human Resource Management. Warrant Officer Class 2 Everton Hay WO2 Everton Hay has been a member of the JDF Credit Union for fourteen (14) years and has served on the Credit Committee for four (4) years. He was employed at the Technical Training Institute as Warrant Officer - Accounts and Audit Control and Quality Assurance. He holds a Bachelor of Science Degree in Business Administration Captain Andres Pierce Captain Andres Pierce has been a member of the JDF Credit Union for six (6) years and in 2014 was appointed to the Board of Directors. He is employed as the S03 J4 (Finance) at The Headquarters Jamaica Defence Force. Captain Pierce is also the Treasurer for Jamaica Officers’ Club, Treasurer- JDF Sports Board and an Instructor for JDF Service Funds Accounting Course. He holds a Master in Business Administration and a Bachelor of Science degree (Hons.) in Banking and Finance. Sergeant Andre Shakespeare Sgt. Andre Shakespeare has been a member of the JDF Credit Union for twenty-one (21) years and the Secretary for the Credit Committee over six (6) years. He is currently employed to Support and Services Battalion as a company chief clerk. He holds a certification level II in Business Administration.
CREDIT COMMITTEE
Corporal William Gilzene Corporal William Gilzene has been a member of the JDF Credit Union for fourteen (14) years and is currently our Liaison Officer and a member of the Marketing Committee. He is presently employed as the Company Clerk (Admin Coy, Support and Services Battalion). He holds diplomas in Business Administration and Spanish. Captain Michael Deans Captain Michael Deans is a member of the JDF Credit Union. He has been an Attorney-at Law since 2001 and is currently a member of the JDF’s Legal Office. Captain Deans also tutors and coaches Trial Advocacy at the Norman Manley Law School. Captain Deans has a Bachelor of Arts Degree (Hons.) in History with minors in English and Philosophy from the University of the West Indies, a Bachelor of Laws Degree, LLB (Hons.) from the University of Liverpool, (Cayman Islands Campus) and a Certificate of Legal Education from the Norman Manley Law School.
Warrant Officer Class 2 Hamroy Roberts WO2 Hamroy Roberts has been a member of the JDF Credit Union for twenty-three (23) years. He benefited from several crosssections of training courses and held several positions within the Jamaica Defence Force. He is currently the Warrant Officer in charge of The Headquarters Jamaica Defence Force Legal Office. W02 Roberts holds Diplomas in Supervisory Management and Paralegal Studies as well as Certificates in Occupational Safety and Health and Paralegal Studies
SUPERVISORY COMMITTEE
Major Maxwell Gordon Maj Maxwell Gordon has been a member of the JDF Credit Union since 2003. Maj Gordon is a former Aide-de- Camp to the Chief of Defence Staff and is currently employed as the Assistant Staff Officer, Military Personnel at The Headquarters Jamaica Defence Force. He holds a Diploma in Law and is currently pursuing a Bachelor of Law Degree from the University of London. Miss Judith Salmon Miss Salmon has been a member of the JDF Credit Union for seven (7) years and is currently a Liaison Officer. She has held several positions within the Civilian Human Resource Department and presently works as a Human Resource Officer. She holds a Bachelor of Science Degree in Business Administration. Sergeant Courtney Williams Sgt Courtney Williams has been a member of the JDF Credit Union for twenty-three (23) years. He is currently employed to the JDF Air Wing, CMAS, and JDF AW Manley Base. He holds a diploma (Managerial) in Business Administration. Major Courtney Dunkley Major Courtney Dunkley has been a member of the JDF Credit Union for seven (7) years. He possesses extensive experience in banking and military operations for over 25 years. He is currently the 2IC for The Third Battalion, The Jamaica Regiment (National Reserve) (3JR (NR)). Maj Dunkley holds a Diploma in Management Studies and Certificate in Banking and Supervisory Management. Warrant Officer Class 2 Steve Wallace WO2 Steve Wallace has been a member of the JDF Credit Union for twenty-five (25) years and has been a serving member of the Force for the same period. He is currently employed at The First Battalion, The Jamaica Regiment as a Company Sergeant Major. Staff Sergeant Carlean Sutherland SSgt Carlean Sutherland has been a member of the JDF Credit Union for twenty-four (24) years and has been a volunteer for four (4) years on the Supervisory Committee. Sgt Sutherland previously served as Chairman of the Supervisory Committee until she went to pursue and successfully completed a Bachelor of Science Degree in Social Work from the University of the West Indies. She is currently employed as the Chief Clerk at the JDF Air Wing. Mrs. Fay Tomlinson Mrs. Fay Tomlinson has been a member of the JDF Credit Union for three (3) years. She has been employed at the JDF Pay and Records Office for over (34) years and is presently the Supervisor of the Payments Unit. Mrs. Tomlinson has a Diploma in Government Accounting and a Certificate in Supervisory Management. She is currently in her final year in the Associate of Science Degree in Accounting.
_______________________ Lieutenant Kwame Gordon
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SUPERVISORY COMMITTEE REPORT SCOPE OF WORK During the year under review the Supervisory Committee focused on determining the performance of the Credit Union with respect to the following areas of operation:
• • • • • • • • • • • •
Bank Reconciliation Cash and Vault Management Execution and Management of Securities Placement and Management of Investment Instruments Processing of Members Loans Management of Active and Dormant Accounts Granting of Staff and Volunteer Loans Compliance with Statutory Payments Requirements Inventory of Fixed Assets Staff Operations Delinquency Processing of Closed Accounts.
OPERATIONS The Supervisory Committee, assisted and facilitated by the Internal Auditor, consistently met and reviewed the operations of the Credit Union in the above mentioned areas. The reconciliation for all bank accounts was generally prepared in a timely manner. Based on the audits conducted, the systems of internal control were largely adhered to. There were however, some areas for improvement which was addressed by management. As mandated, the Committee submitted monthly reports to the Board of Directors which included coverage of the scope of work, findings, management’s response and recommendations as the proper maintenance of the securities records were monitored to ensure that the Credit Union’s investments were protected.
AT THE ANNUAL GENERAL MEETING HELD ON APRIL 17, 2013 THE FOLLOWING PERSONS WERE DULY ELECTED TO SERVE ON THE SUPERVISORY COMMITTEE FOR ONE (1) YEAR. SSgt Girlet Sgt Garfield Maj Courtney SSgt Carlean WO2 Steve Mrs. Elizabeth Mrs. Fay
BERNARD TOPEY DUNKLEY SUTHERLAND WALLACE BROWN-JAMES TOMLINSON
ACKNOWLEDGEMENT We the members of the Supervisory Committee wish to express our gratitude to the members of the various committees, the Internal Auditor Mrs. Pitter-Cooper, the Board, Management and Staff of the Credit Union for the assistance provided during the period under review. We also wish to thank you the members for affording us the opportunity to serve the Credit Union in this capacity. As Chairperson, I take this opportunity to thank and commend the members of my team on a job well done and to urge them to continue to serve this institution with a high level of commitment and dedication.
............................. Girlet Bernard Chairperson Supervisory Committee
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LIAISON OFFICERS LS. Gary Hanson
Ms. Judy Salmon
Cpl. William Gilzene
Missing: CPL Orlando Grant CPL Kenyatta Johnson
PARLIAMENTARY RULES
ORDER OF BUSINESS
An agenda shall be prepared by the Chairman and Secretary, and all items therefore shall take precedence over all other business. Any member desirous of introducing business for the consideration of the meeting may do so after the business on the agenda has been completed, or may give notice of motion to be discussed at a further meeting.
SUSPENSION OF STANDING ORDER
In the event of any matter of urgency, however, the Chairman may accept a suspension of the Standing Order. The member moving such a suspension must clearly state the nature and urgency of his business, the numbers of the Standing Order affected and the length of time he desires such suspension shall take place except by majority vote of the members present.
MINUTES
No motion or discussion shall be allowed on the minutes except in regards to their accuracy. After the confirmation of the minutes, they shall be signed by the Chairman, and the members shall then be at liberty to ask questions in regards to the matters arising out of them. Such questions shall be allowed for the purpose of information only, and no debate on the policy outlined in the minutes shall take place. All speakers are to make use of the microphone when addressing the meeting in order that it be recorded and make permanent record in the meeting proceedings, a point of order, or explanation, except the mover of the original motion. But on an amendment being moved, any member even though he has spoken on an original motion, may speak again on the amendment. No member for more than five minutes at a time. Members wishing to raise point of order or explanation must first obtain the permission of the Chairman and must raise immediately the alleged breach has occurred. Any accredited member shall have the right to speak and vote on all issues coming before the meeting. Persons other than accredited members, so certified, may speak with the permission of the Chair but shall not vote on any issue.
SPEECHES
No member shall be allowed to speak more than once upon any motion before the meeting, unless one member may formally second any motion or amendment and reserve his speech until later in the debate.
No person shall interrupt another who is speaking except on a point of order, a parliamentary inquiry, or a point of information. If it should come to pass that speaker is called to order while speaking, the Speaker should take his seat until the question of order is determined.
CHAIRMAN’S RULING
The ruling of the chairman on any question under the Standing Order, or on points or order or explanation, shall be final, unless challenged by not less than four members, and unless two-thirds of the members present vote to the contrary.
INTERRUPTION
If any member interrupts another while addressing the meeting, or uses abusive or profane language or causes disturbance at any of the meetings, and refuses to obey the chairman when called to order, he shall be named by the Chairman. He shall thereupon be expelled from the room and shall not be allowed to enter again until apology satisfactory to the meeting is given. A question shall not be subject to debate until it has been duly moved and seconded and is stated from the chair.
MOTIONS AND AMENDMENTS
The first proposition on any particular subject shall be known as the original motion, and all succeeding propositions on the subject shall be called amendments. Every motion or amendment must be moved and seconded by members actually present at the meeting before they can be discussed and whenever possible, shall set forth in writing. It is permissible for a member to make his speech first and conclude with a motion. When an amendment shall be discussed until the first amendment is disposed of (Notice of any further amendment must be given before the first amendment is put to vote.
SUBSTANTIVE MOTIONS
If an amendment be carried, it displaces the original motion and itself becomes the substantive motion, whereupon any further amendment relating to any portion of the substantive motion may be moved, provided it is consistent with the business and has not been covered by an amendment or motion which has been previously rejected. After the vote on each succeeding amendment has been taken, the surviving proposition shall be put to the vote as a main question, and is carried shall become a resolution of the meeting.
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RIGHT OF REPLY
ADJOURNMENT
WITHDRAWALS OR ADDITIONS
Any member may demand a division of the question before the House, when the sense of it would permit. A motion to lay on the table shall be put without debate.
The move of the original motion shall, if not amendment be moved, have the right of reply at the close of the debate upon such motion. When an amendment is moved it shall be entitled to speak thereon in accordance with standing order # 8 and at the close of the debate on such amendment shall reply to the discussion, but shall introduce no new matter. The question shall then be put to the vote immediately, and under no circumstances shall any further discussion be allowed once the question has been put from the chair. The mover of amendment shall not be entitled to reply. No motion or amendment which has been accepted by the Chair shall be withdrawn without the majority vote of the meeting. Neither shall any addendum or rider be added to a motion, which has been accepted by the Chair without majority vote. Should any member dissent, the addendum must be proposed and seconded, and treated as an ordinary amendment. CLOSING DEBATE The motion for the previous question, next business, or the Closure, may be moved and seconded only by members who have not previously spoken at any time during the debate. No speeches shall be allowed on such motion. In the event of the closure being carried, the mover of the original motion shall have the right of reply in accordance with standing order No. 6 before the question is put. Should any one of the motion mentioned in this standing order be defeated, thirty minutes shall elapse before it can be accepted again by the Chairman, unless he is of the opinion that the circumstance have materially altered in the meantime.
Any member who has not already spoken during the debate may move the adjournment of the question under discussion or of the meeting, but must confine his remarks to the question and must not discuss any other matter. The mover of the motion upon which the adjournment has been moved, shall be allowed the right to reply on the question of the adjournment, but such reply shall not prejudice his right of reply on his own motion. In the event of such motion being lost, it shall not be moved again, except in accordance with Standing Order No. 18.
A motion for reconsideration shall not be entertained unless at the same or following session by a member who voted on the prevailing side, and shall require a majority vote. Any two members shall have the right to demand (by majority vote) that the room shall be cleared of all but accredited delegates to transact business of a nature that precludes premature publicity. Whispering, loud talking, or other disturbances calculated to disturb anyone while speaking will not be tolerated.
Obituaries The Board of Directors acknowledges those deceased members who left us over the last year. May their souls rest in peace. Peart, Gawaine Parris, Lloyd King, Jason Lambert, Edward Hyman, Owen Scafe, Ranford Bailey, Wenton Benjamin, Natasha Campbell, Precious
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NOTES
NOTES
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