At Southern Cross Credit Union, we're a customer owned financial institution, meaning we work for the benefit of our customers and communities. Below is a snapshot of how we operate.
SOUTHERN CROSS CREDIT UNION LIMITED
ABN 82 087 650 682
Notice of 54th Annual General Meeting
The Annual General Meeting of Southern Cross Credit Union Ltd will be held on 24th November 2020 at the Credit Union’s Corporate Service Centre, Corner Pearl and Turnock Streets Kingscliff commencing at 4pm. The business of the meeting will be as follows:
- Opening by Chairperson
- Confirmation of minutes of the last Annual General Meeting
- Business arising from those minutes
- Constitution amendments
- Chairman’s Report
- Directors and Financial reports
- Election of Directors
- Remuneration of Directors
- General Business
By order of the Board of Directors
Item 7 Constitutional Amendments
To consider, and if thought fit, pass the following resolution as a special resolution:
That the Credit Union’s Constitution be amended with effect from the close of the Meeting as described in the Explanatory Notes and set out in the marked-up copy of the Constitution signed by the Chair of the Meeting for identification purposes and tabled at the Meeting.
Item 7 – Explanatory Note for the Constitutional Amendments
Given the current COVID-19 restrictions on members’ ability to physically attend meetings and AGM, the Credit Union has made amendments to its Constitution in para 11.2 and 12.4 where we seek to hold a virtual meeting or a hybrid meetings, which adequately allow questions to be asked, votes to be cast, at the meeting in a way that provides a reasonable opportunity for members to effectively participate.
CEO to replace the Board in authorising Termination of Membership in Division 4 para 4.3.
A copy of the Constitution with the proposed amendments marked-up is available to members on request.
The 2019-2020 Annual Report is now available on line at www.sccu.com.au
Note: A member who is entitled to attend and vote at the meeting is entitled to appoint a proxy to attend and vote instead of the member e.g. the chairman of the meeting. A proxy does not need to be a member. A member who is entitled to cast two or more votes may appoint two proxies and may specify the proportion or number of votes each proxy is appointed to exercise. Proxy forms are available from the Company Secretary. Proxy forms must reach the Company Secretary, 38-42 Pearl Street, Kingscliff NSW 2487,no later than 4.00pm (EDST) Sunday, 22nd November 2020.
A member may request to be sent personal notice of the meeting by notifying the Credit Union by: Phone: 1300 360 744 or Email: email@example.com or Mail: PO Box 1602 Kingscliff NSW 2487 or visit any Financial Service Centre.
We’re an unlisted, Public Company and as a Customer Owned Financial Institution, our customers are our shareholders.
Our Board is made up of five independent, non-executive directors and one executive director. Each board member and their activities are governed by our constitution. The Board is responsible for our corporate governance including monitoring SCCU on behalf of our customers and meets at least eight times per year.Meet our Board
The board operates several committees to ensure responsibilities to our constitution and corporate governance are met.
- Risk Committee
- Audit Committee
- Remuneration Committee
- Directors Nomination Committee
As a financial institution, our main regulator is the Australian Prudential Regulation Authority (APRA). APRA oversees the banking and financial services industry, including compliance with the Banking Act 1959 (Cth) and APRA’s Prudential Standards.
We are also regulated by:
- The Australian Securities and Investments Commission (ASIC), which oversees compliance with the Corporations Act 2001 (Cth) (including Part 2 regarding consumer protection in relation to financial services), the National Consumer Credit Protection Act 2009 (Cth), and the terms of our Australian Credit Licence and Australian Financial Services Licence; and
- The Australian Transaction Reports and Analysis Centre (AUSTRAC) which oversees the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth).
We conduct internal quarterly audits and the results are reported to the Board. We engage internal and external auditors –
- KPMG are our internal auditors
- BDO Audit Pty Ltd are our external auditors