MOVE Bank’s 2020 AGM was held on 17 November 2020 and it was great to welcome members to our first hybrid AGM.
Our AGM is an opportunity for members to vote on motions relating to the governance of MOVE Bank and ask questions of our Board of Directors and Executives.
During the AGM members voted on a number of motions, including the appointment of Tim Staley to the Board for a term of 3 years and important constitutional changes. There were five amendments to MOVE Bank’s Constitution approved at the AGM, which covered:
- removal of barriers to allow MOVE Bank to offer membership to existing customers and the general public
- introduction of protection rules to ensure that a demutualisation cannot occur without the participation of a significant proportion of members in the vote
- changing the subscription price for new member shares to $nil and allowing existing members to apply for their $10 share to be refunded
- simplifying the constitution to provide greater flexibility in relation to new memberships, termination of memberships, membership requirements for directors and term of external directors
- providing members with more options to cast votes on resolutions at MOVE Bank’s general meetings to ensure all members have an enhanced opportunity to participate
During their presentations, MOVE Bank Chair Bron Davies and CEO Therese Turner reflected on the past financial year which has seen MOVE Bank win 21 industry awards including Australia’s Best Small Mutual Bank, maintain solid financial performance in challenging conditions and continue to prioritise the financial wellbeing of members, staff and the community.
We would like to extend our sincere thanks to the 99 members who attended the evening in-person and online, and to the 938 members who took part in MOVE Bank’s governance through their voting proxies.
Thank you to all members who participated in this year’s AGM.
Want to upgrade to member status?
Recent changes approved at our 2020 AGM mean that all customers can now become members and part-owners of MOVE Bank and have a right to vote at general meetings.
If you’d like to upgrade your status to become a member, simply visit movebank.com.au/upgrade-membership and complete the short form or contact us on 1300 362 216. There are no costs to upgrade your status to member.