Voting Results – 2012 Special Resolutions

New Westminster, BC, September 18, 2012 – In July, 2012, the Westminster Savings Board of Directors sent members official notice of two Special Resolutions. Special Resolution 2012-01 requested changes to the credit union rules and Special Resolution 2012-02 requested a change to the authorization for director remuneration.

In order for a Special Resolution to be approved, two-thirds of voting members must vote in favour of the Special Resolution. The deadline for returning completed ballots was August 28, 2012.

Voting Results:

  • Special Resolution 2012-01 to replace the credit union rules was passed by members.
  • Special Resolution 2012-02 regarding a change to the authorization for director remuneration was defeated by members.

Results 2012-01 2012-02
Total Ballots Received 1,416 1,416
Ballots Accepted 1,395 1,395
Ballots Rejected 21 21
"For" Votes 1,107 570
"Against" Votes 240 810
Total (Accepted) "Ballots Cast" 1,395 1,395
Approval requires 66 2/3% of (Accepted) Ballots Cast voting “For” the Special Resolution 79.4% 40.9%

The Board of Directors wishes to express its thanks to all members who took the time and effort to vote, and extends a particular thank you to those who called or emailed the credit union to share their views on the two Special Resolutions. Feedback from our members is always welcome and appreciated.

If you have any questions about the Special Resolutions, please call 604 517 0100 or email resolution@wscu.com


About Westminster Savings

Headquartered in New Westminster, Westminster Savings Credit Union provides a full range of retail, commercial and wealth management services, plus vehicle and equipment leasing services through its wholly-owned subsidiaries WS Leasing Ltd. and Mercado Capital Corporation. Its 400 employees serve 60,000 members and customers with $2.7 billion in assets under management from a network of 12 retail branches across metro Vancouver and leasing offices in British Columbia, Alberta, Manitoba and Ontario.

 

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