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Fifty Third Annual General Meeting

Notice for the Fifty-Third Annual General Meeting

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Central Murray Credit Union Limited t/as Central Murray Bank members are invited to attend the 53rd Annual General Meeting.

When:   Wednesday, 12th November 2025, Meeting starts at 6 pm

Where: Club Mulwala, Melbourne Street, Mulwala.

For members attending the meeting in person, please register your name for voting purposes prior to the meeting's commencement. Registration will commence at 5:30 p.m.

Members who wish to raise any queries or seek information at the AGM about the Financial Statements or CMB's overall performance are asked to provide the CEO with written notice of their queries or requests at least seven days prior to the meeting. This will enable properly researched replies to be prepared for the benefit of members.

By Order of the Board

John Pattison

Secretary

AGENDA

  1. Apologies
  2. Minutes - To confirm the minutes of the Fifty-Second Annual General Meeting held on Wednesday, 13th November 2024.
  3. Business Arising – To consider any business arising from the above Minutes.
  4. Reports - To receive consider and adopt the following reports for the year ended 30th June 2025
    1. Directors Report;
    2. Financial Statements; and
    3. Auditors report.
  5. Directors Remuneration - To consider the honorarium for Directors on the Board of Directors of the Central Murray Bank for the current year.
  6. Election of Director—To elect two (2) directors. The following directors will retire in accordance with the constitution of Central Murray Credit Union Limited: Faith McCallum and Rebecca Hearm.
  7. Special Resolution- That Central Murray Credit Union Limited's Constitution be amended as set out in the Attachment to the Notice of Annual General Meeting
  8. Any business for which due notice has been given
  9. General Business.

Notes

Copies of all Financial Statements and the Directors’ and Auditors' reports are available on our website, www.cmcu.com.au, at the Yarrawonga office, or by calling 03 5744 3713.

If a member is unable to attend the AGM, they may vote by proxy. Proxy forms, together with instructions for completion and return, are available on application to Julie Barnes at (03) 5744 3713 or jbarnes@cmcu.com.au. Please note that the Secretary must receive proxy forms by 5:00 p.m. on November 7, 2025.

 

 

Explanatory Notes

Item 7 Special Resolution - Amendment to Constitution - $nil subscription price for member shares

The special resolution will remove the requirement for new members to pay a subscription price upon joining by setting the subscription price for new member shares at $nil. Currently, new members must pay a $10 subscription price for their member share, except for minors, who pay $2 upon joining and an additional $8 upon turning 18.

There is little benefit to the Bank in receiving the $10 subscription price, and it creates a barrier to persons becoming members.

The amendments will not affect the rights and obligations of existing members, who will continue to hold a member share with existing rights to repayment of the paid-up subscription price on redemption or winding up, and to pay any unpaid subscription price.

A copy of Central Murray Bank's amended Constitution, marked up with proposed amendments, is available on our website at Constitution or by request to Central Murray Bank at 03 5744 3713 or info@centralmurray.bank.

To pass, this special resolution requires the approval of 75% of the votes cast by members at the meeting, in person or by proxy. The Board unanimously supports this amendment and recommends you vote FOR it.

 

 

Attachment

Item 7 - Amendment to Constitution - $nil subscription price for member shares

  1. Replace Subrule 3.1(1) with the following:

(1) Subject to any other Rule allowing admission of members, the credit union may admit a person as a member only if:

(a) the person makes a written application in a form the credit union requires;

(b) the person applies for a member share.

  1. In Rule 5.3:
  • delete Subrule (3);
  • renumber Subrule (4) as Subrule (3).
  1. In Appendix 2:
  • in clause A2-1 replace “$10.00” with “$nil”;
  • replace subclause A2-7(1) with:

(1) This clause A2-7 only applies to a member who:

(a) was a minor when they became a member; and

(b) became a member on or before 13th November 2025.

 

 

 

 

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