Nominations

Nomination Requirements

To be eligible for election you must be:

• A full member aged 18 or over.

• Nominated and seconded by full members of the Credit Union.

• A member of the Society for at least six (6) months

Nominees must be “fit & proper” consistent with Section 57 of the Cooperatives Society Act CAP 378.

You Must Not:

• Be less than 18 years of age;

• Be of unsound mind and to have been found guilty by a court in Barbados

• Be the auditor of the society;

• Be a duly appointed representative of a member society;

• Have been convicted of an offence involving fraud or dishonesty;

• Have been convicted of an offence under this Act;

• Have been convicted on an indictment of an offence in connection with the promotion; formation or management of a body corporate;

• Have made arrangements with your creditors;

• Have become bankrupt.

Requirements:

1. All Nominations must be submitted to the Secretary, AffinityPlus Credit Union no later than 90 days (28 March, 2024) prior to the Annual General Meeting.

2. All Nominations must be submitted on the official nomination form.

3. All Nominations must be accompanied by a resume (which includes background, experience and accomplishments which would be an asset within the Co-operative movement) and a passport size photograph of the Nominee.

4. All Nominations must be accompanied by a signed completed Fit and Proper Questionnaire, Politically Exposed Person (PEP) Questionnaire and a Police Certificate of Character which must be submitted no later than 60 days (26 April, 2024) prior to the Annual General Meeting.

5. Nominations must be signed by a proposer and seconder, who must be full members of the Credit Union. The Nominee must also sign the appropriate section of the Nomination form to indicate his/her consent.

Eligibility Criteria for Independent Directors

An Independent Director is one who has no direct or indirect material relationship with the financial institution other than membership on the Board, and who:

1. is not, and has not been in the past five (5) years, employed by the financial institution or its subsidiaries and affiliated companies;

2. does not have, and has not had in the past five (5) years, a business relationship with the financial institution or its subsidiaries and affiliated companies, and is not a director, officer or senior employee of a person that has or had such a relationship;

3. is not affiliated with any non-profit organisation that receives significant funding from the financial institution or its subsidiaries and affiliated companies;

4. does not receive and has not received in the past five (5) years, any additional remuneration from the financial institution, its subsidiaries and affiliated companies other than his or her director’s fee and such director’s fee does not constitute a significant portion of his or her annual income;

5. does not participate in any pension plan offered by the financial institution or any of its subsidiaries;

6. is not, nor has been at any time during the past five (5) years, affiliated with or employed by a present or former auditor of the financial institution or any of its subsidiaries and affiliated companies;

7. does not hold a material interest in the financial institution or its subsidiaries and affiliated companies (either directly or as a partner, shareholder, director, officer or senior employee of a person that holds such an interest);

8. is not a member of the immediate family (and is not the executor, administrator or personal representative of any such person who is deceased or legally incompetent) of any individual who would not meet any of the tests set out in (a) to (g) (where he or she is a director of the financial institution); and

9. has not served on the Board or any elected committee for more than 10 (ten) years previous to this Guideline.

“Material relationship” – A familial, financial, employment, professional or other relationship that could reasonably expected to (or by its nature) affect or impair the objective judgment of a Board member in executing Board duties.

Nominations must be signed by a proposer and seconder, who must be full members of the Credit Union. The Nominee must also sign the appropriate section of the Nomination form to indicate his/her consent.

Required Nomination Documents

Please read the following documents carefully before completing them.

ALL REQUIRED DOCUMENTS MUST BE SUBMITTED TO CONSTITUTE A VALID NOMINATION APPLICATION.

Nominations must be submitted to the attention of the Secretary at the BWU Co-operative Credit Union, via email to nominations@affinityplusbb.com