We'd like to remind our members to view the recent Notice of Annual General Meeting (AGM) 2024 included in the October Quarterly Statements. You can view your October statement by logging into Internet Banking. If you receive your statement via mail, this was included in the mail pack we sent to you. Alternatively, you can view the full AGM notice below.

Notice of Annual General meeting

The 53^rd Annual General Meeting (AGM) of Illawarra Credit Union Limited (ABN 14 087 650 771) will be held on Thursday, 28 November 2024 commencing at 6pm. The meeting will be held virtually.

General Business

1. To receive the Annual Financial Report, the Directors’ Report and the Independent Audit Report to Members for the financial year ended 30 June 2024.
2. To consider, and if thought fit, to pass the following resolutions 2a), 2b), 2c) and 2d) as ordinary resolutions:

1. 1. To re-appoint Ms Deborrah Lambourne as a Director
   2. To re-appoint Ms Amy Harper as a Director
   3. To re-appoint Mr Alex Frino as a Director
   4. To approve a maximum aggregate remuneration for the Board of Directors to $312,425 p.a. exclusive of Superannuation Guarantee.

Note: Please refer to Annexure A to the Notice of AGM for further information in relation to resolution 2d).

Appointment of Proxy

Members of Illawarra Credit Union Limited can appoint a proxy to vote on their behalf. The proxy does not have to be a member of Illawarra Credit Union Limited. A proxy form can be requested by contacting the Credit Union on the details below.

RSVP

RSVP by Tuesday 26 November 2024 by any of the contact options listed below. Upon receiving your RSVP we will issue you with your unique log in details which you will need to enter the virtual meeting. To receive your unique username and pin you will also require a valid email address or mobile phone number. Please enter the virtual room by 5.45pm for registration.

 Constitution

A copy of the Credit Union’s current Constitution is available by request during business hours from the Registered Office at 38-40 Young Street, Wollongong or on our website www.illawarracu.com.au.

 Annual Financial Reports

Copies of the 2024 annual financial reports are available by request during business hours from the Registered Office at 38-40 Young Street, Wollongong or on our website www.illawarracu.com.au.

 Contact Options

• Email: [email protected]
• Phone: 1300 132 249

By order of the Board

Anthony Perkiss, Company Secretary

1.   Annexure A

Annexure A – Item 2d): Increase to Director Remuneration The board are requesting members to approve a maximum aggregate remuneration for the Board of Directors to $312,425 p.a. exclusive of Superannuation Guarantee. This is an increase from the prior year based on an independent review of directors’ remuneration and to ensure the Credit Union continues to retain and attract directors with the appropriate skills and experience. The current Directors maximum aggregate remuneration of $249,086 p.a. exclusive of Superannuation Guarantee levy was approved at the AGM on the 21st November 2023 and if members do not approve the resolution the existing Directors remuneration exclusive of Superannuation Guarantee will continue to apply.   Please Note: The remuneration amount is the maximum total remuneration for the entire Board; The remuneration is reviewed annually by the Remuneration Committee and benchmarked against other banking institutions in particular credit unions and building societies; The total remuneration is allocated between the individual directors as determined by the Board.