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Annual General Meeting
The Annual General Meeting (AGM) of Waterside Credit Union will be held in The Ebrington Hotel, Ebrington Square, Waterside on Monday 18th November 2024 at 7.00pm.
Please note the change of venue this year.
This is a meeting whereby you, a member and owner of the credit union, can have your say on how your Credit Union operates. We will review the performance of the Credit Union for the last year and what we plan to achieve in the coming year. The event will be held solely as a physical meeting.
Doors at the venue will open at 6.30pm. All members of Waterside Credit Union who attend the AGM will be entered into a draw on the night and have the chance to win one of 5 prizes of £100 and 20 prizes of £50. Please bring your receipt wallet or passbook with you for verification and eligibility for the draw. We also invite you to join us for light refreshments following the meeting. This gives you an opportunity to meet the Credit Union Directors and Staff.
The full annual report containing the financial statements for the year-end 30th September 2024 will be available on our website www.watersidecreditunion.co.uk from the 12th November 2024. Queries can be raised prior to the AGM by e-mailing agm@wcu.uk.com. The booklet will also be available in the office and online.
The Financial Services Compensation Scheme (FSCS) is the UK Deposit Guarantee Scheme. Please find enclosed information regarding FSCS which we are obliged to provide you with every year. The maximum amount of shares permitted in Waterside Credit Union per member is £25,000, therefore every member can be satisfied that all of their shares are protected.
The Standing Orders are also enclosed for your information.
In accordance with Rule 50 and Rule 73 of the Standard Rules for NI Credit Unions (2024), four Directors are nominated for re-election and two members are nominated for election to the Board.
May we take this opportunity to thank all our members for their loyalty during these very challenging times. Waterside Credit Union will continue to adapt our services in response to the needs of our members. With your support we are confident that we can continue to put the interests of our members first and ensure that we safeguard your money through good governance and sound management.
Standing Orders for Credit Unions for
Annual General Meeting (NI)
1. Voting
Each member shall be entitled to one vote irrespective of his/her shareholding, in accordance with Rule 57 of the Standard Rules (except the presiding member, in the limited circumstances set out in Rule 57).
2. Election Procedure
When nominations are announced tellers shall be appointed by the chair and ballot papers shall be distributed on entry to the meeting. Elections shall be in the following order:
(a) Election of auditor;
(b) Election for membership of the board of directors.
When voting is completed, the votes shall be taken and tallied by the tellers. Any ballot paper which contains more votes than the number required shall be void. All elections shall be by majority vote. When the votes have been counted by the tellers the results shall be announced by the chair. In the event of all vacancies not being filled by the first ballot, further ballots shall be taken as required. (Standard Rule 74).
3 - 8 Motions
3. A proposer of a motion may speak for such period as shall be at the discretion of the Chair of the meeting and shall have the right of reply before the motion is put to the meeting for a vote.
4. In exercising his/her right of reply, a proposer may not introduce new material.
5. The seconder of a motion shall have such time as shall be allowed by the Chair to second the motion.
6. Members are entitled to speak on any such motion and must do so through the Chair. All speakers to any motion shall have such time as shall be at the discretion of the Chair.
7. The Chair shall have the absolute right to decide at any time when a motion has been sufficiently discussed and may put the motion to the meeting giving the proposer the right of reply before doing so.
8. The Chair's decision on any matter relating to these Standing Orders or interpretation of same shall be final.
9-13 Miscellaneous
9. The President of the credit union shall be the Chair of any general meeting, except where he/she is not available, in which case it shall be the Vice-President, except where he/she is not available, in which case the Board shall decide amongst themselves who shall act as Chair of any general meeting.
10. The Chair may at his/her discretion, extend the privilege of the floor to any person who is not a member.
11. Matters not covered by the Agenda may be introduced under "Other Business" at the discretion of the Chair.
12. The Chair shall have a casting vote in addition to his/her own vote on matters other than voting at elections (Standard Rule 57).
13. Any matter to be decided upon by a vote at the AGM shall, unless otherwise expressly provided for by law or the rules be decided upon by majority vote.
14. Suspension of Standing Orders
Any one of these Orders or all of these Standing Orders may be suspended on a motion to this effect receiving a two-thirds majority of those present and entitled to vote.
15. Alteration of Standing Orders
Standing Orders may be amended or altered at a general meeting and only if a motion to this effect has received a two-thirds majority of those present and voting
16. Adjournments
Adjournments of the AGM shall take place only in accordance with Standard Rule 59.
 INFORMATION SHEET| Basic information about the protection of your eligible deposits | | Eligible deposits in Waterside Credit Union are protected by: | The Financial Services Compensation Scheme (“FSCS”). | | Limit of protection: | £85,000 per depositor per bank / building society / credit union. | | If you have more eligible deposits at the same bank / building society / credit union: | All your eligible deposits at the same bank / building society / credit union are “aggregated” and the total is subject to the limit of £85,000. | | If you have a joint account with other person(s): | The limit of £85,000 applies to each depositor separately. | | Reimbursement period in case of bank, building society or credit union’s failure: | 20 working days. | | Currency of reimbursement: | Pound sterling (GBP, £) or, for branches of UK banks operating in other EEA Member States, the currency of that State. | To contact Waterside Credit Union for enquiries relating to your account:
To contact the FSCS for further information on compensation: | Waterside Credit Union Limited
55/57 Spencer Road, Derry. BT47 6AA
Tel: 028 71345579
Email: mail@watersidecreditunion.co.uk
Financial Services Compensation Scheme
10th Floor Beaufort House
15 St Botolph Street
London
EC3A 7QU
Tel: 0800 678 1100 or 020 7741 4100
Email: ICT@fscs.org.uk | | More information: | http://www.fscs.org.uk | | Acknowledgement of receipt by the depositor: | |
Additional information
1 Scheme responsible for the protection of your eligible deposit
Your eligible deposit is covered by a statutory Deposit Guarantee Scheme. If insolvency of your bank, building society or credit union should occur, your eligible deposits would be repaid up to £85,000 by the Deposit Guarantee Scheme.
2 General limit of protection
If a covered deposit is unavailable because a bank, building society or credit union is unable to meet its financial obligations, depositors are repaid by a Deposit Guarantee Scheme. This repayment covers at maximum £85,000 per bank, building society or credit union. This means that all eligible deposits at the same bank, building society or credit union are added up in order to determine the coverage level. If, for instance a depositor holds a savings account with £80,000 and a current account with £20,000, he or she will only be repaid £85,000.
In some cases, eligible deposits which are categorised as “temporary high balances” are protected above £85,000 for six months after the amount has been credited or from the moment when such eligible deposits become legally transferable. These are eligible deposits connected with certain events including:
(a) certain transactions relating to the depositor’s current or prospective only or main residence or dwelling;
(b) a death, or the depositor’s marriage or civil partnership, divorce, retirement, dismissal, redundancy or invalidity;
(c) the payment to the depositor of insurance benefits or compensation for criminal injuries or wrongful conviction.
More information can be obtained under http://www.fscs.org.uk
Waterside Credit Union celebrates 60 years!
We would like to say a massive thank you to all our existing and past members, volunteers, directors, staff and anyone that has helped to build the Waterside Credit Union over the last 60 years to make it what it is today!
For six decades Waterside Credit Union has been a cornerstone of the community. We are proud to have helped thousands of our members, whether this be to improve their homes, upgrade their car, develop their business or help with the costs of Christmas. It is our privilege to see generations of local families come through our doors and trust us with their financial needs.
As we continue to grow and innovate, we remain dedicated to providing exceptional service, competitive rates and personalised financial solutions tailored to your needs.
We currently have over 10,500 members, 11 staff members and £28 million in assets. Our key objective is to promote the social ethos of mutual self-help and the Credit Union mission of ‘people helping people’ within our wider community.
In 2022 we extended our common bond to include the Cityside so if you live or work within the BT47 or BT48 post code areas you qualify to join the Waterside Credit Union. Our message is simple, ‘save-to-borrow’ as with regular saving of any amount, our members have access to loans sourced from other members’ savings. If you aren’t already a member then join today and save to borrow! We offer loans from £100 to £40,000 depending on affordability.
In a world filled with technology it’s great to see that we still have a lot of members who come into the office every week, but we also offer a range of online services.
Here’s to the next 60 years. We are excited to see what they may bring.
**Member Notice**
With effect from 1st March 2024, members can lodge funds to their shares using the 'Online Lodgement' option. This is available via the secure area of the website. Please ensure that you select the correct account when lodging funds for eg if you are making a loan payment select 'Loan'.
You can then make an additional lodgement to your shares after making your loan payment. Members who do not have a loan can now lodge funds to their 'Share Account'. Any queries or guidance please contact the office on 0287134 5579.
Click here to find out more
Benefits Calculator
Could you be missing out on valuable financial support without realising? £16 billion of benefits and tax credits remain unclaimed in the UK each year – most often by low income working households.
Not sure you’re getting all the help you’re entitled to? Use the Benefits Calculator to find out what you could claim.
Try the benefits calculator now
By entering a few details about your situation, you’ll get a free and impartial assessment of all the benefits and tax credits you are entitled to and what you have to do to claim them: from means tested benefits like Universal Credit and Child Tax Credit, right through to the latest benefits for energy bills.
Make the Call Service
Thanks to a simple phone call, thousands of people across Northern Ireland are now accessing money and other help that they previously weren’t receiving. The ‘Make the Call’ service from the Department for Communities enables you to find out quickly and easily whether you are receiving all the benefits, supports and services to which you are entitled.
0800 232 1271*
Text: ADVICE to 67300*
Mon-Fri: 9:00am to 5:00pm *network charges may apply www.nidirect.gov.uk/makethecall Further information can be found here.
Cost of Living Crisis
Please click here to gain valuable tips on budgeting and information on support services available
Sponsorship Forms
If you wish to apply to the Board of Directors for sponsorship or a donation for your organisation, please click on the link below. Please print and complete the application form and return it to the Waterside Credit Union office at 55-57 Spencer Road, Waterside, BT47 6AA:
http://www.watersidecreditunion.co.uk/Donations_and_Sponsorship_form.pdf
PHISHING SCAM TARGETING CREDIT UNIONS
We have been informed that there is currently a phishing scam targeting credit union members.
Members receive an email from the email address creditunion@online.ie or one similar to this. The email will inform the member of a file named "Payment Confirmation" that's been transferred to them through a site called WeTransfer, by what appears to be your Credit Union, and will be encouraged to click to download the files.
This scam is designed to collect your personal details with a view to gaining access to personal financial accounts.
Please note the credit union does not request personal details by email from its members or use any third party websites to collect members details. If you receive an email similar to the one outlined above , please ignore it.
Online Loan Applications
You can now apply for a loan online. To apply for a loan login to the members area and click the apply for loan button. Enter as much details as possible and once you submit the loan application you will be contacted by a staff member at Waterside Credit Union reguarding your application.
If you do not have access to the members area already then register today!
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