Time to vote on BVCU's Rule changes

BVCU is seeking members attention and input at the April 17th, 2023 Annual General Meeting.

A vote by the membership will be held with the proposed Rule changes below. Full Rules are provided along with a helpful Summary guide of the changes and rationale behind them.

Bulkley Valley Credit Unions 81st Annual General Meeting will be held on April 17th, 2023 at 7:00 PM at the Prestige Hudson Bay Lodge in the Summit Room.

Notice of Special Resolution

As a member of Bulkley Valley Credit Union (the “Credit Union”), your participation is requested in a vote on a Special Resolution to approve proposed new and revised Rules for the Credit Union. Pursuant to the Credit Union Incorporation Act and the current Rules, this is your official notice of a special resolution. Members will be asked to vote on the Special Resolution at the Annual General Meeting of the Credit Union on April 17, 2023.

The Board of Directors of the Credit Union is focused on the financial health and inclusivity of our expanding membership. For this reason, the Board is recommending changes to our Rules that are intended to benefit all members. The Rules of the Credit Union set out how the Credit Union is to be governed. Rules can only be amended with the approval of the Credit Union’s members and the consent of the BC Superintendent of Financial Institutions. The changes being proposed to the Rules are set out in the proposed Special Resolution and explanatory materials, which can be viewed at www.bvcu.com, or obtained from your local branch. We encourage all members to read the suggested changes before you cast your vote.

The proposed changes will simplify the Credit Union’s share structure by removing references to Class “B” Non-Equity Shares and reducing the Class “A” Membership Equity Share requirement to five shares for all members. This will make membership more accessible and increase administrative efficiency. The available voting methods in connection with special resolutions will be expanded in order to give a greater number of members the opportunity to vote on important matters relating to the Credit Union. The proposed changes also provide more flexibility to the Board for scheduling Board meetings while retaining the requirement to meet at least quarterly. This will allow for more focused work by Directors at the committee level and enable the Board to focus on the governance of the Credit Union. A number of housekeeping changes are proposed in order to modernize language of the Rules, including the use of general neutral terminology as is consistent with the Credit Union’s inclusivity initiatives.

The proposed changes will be discussed in greater detail at our Annual General Meeting on April 17, 2023. If any member has any questions in advance of the meeting, you are encouraged to contact your local branch office for clarification.