Cooperative Center Federal Credit Union

Cooperative Center Federal Credit Union 2018 Annual Meeting of the Members Ed Roberts Campus | July 26, 2018 Board of Directors Present: Shyaam Shabaka, Mike Leung, Jesse Palmer, Al Ringgold and Celeste McAllister Credit Union Management Present: Fadhila Holman, Mark Suacillo, Rebecca Gilbert, Manuel Ramirez, Linda Meza, Lindsay Youmans and Debbie Crowson Nominating Committee Present: Hemby Whitten, Willie Phillips and Steve Kessler I. Call to Order Chair Shabaka called the 76th Annual Meeting of the Members to order at 6:15 p.m. Roll call was taken; a quorum was present. The number of RVSPs for this meeting was 243 and the number of attendees was 178. II. Minutes The Annual Meeting of Members minutes dated September 28, 2017, were approved with any necessary corrections by consensus. III. Annual Meeting Reports a. Board Chairman's Report: Shyaam Shabaka Chair Shabaka referred to his section in the Annual Report and touched on upcoming changes, namely the conversion to an upgraded core processing system. Upon completion, this investment in technology will be transformational in allowing the credit union to improve member access and convenience across all technology-based delivery channels. Chair Shabaka then spoke about the sale and development of the credit union property located at 2001 Ashby Avenue. There are plans in process to redevelop the location and turn it into a mixed use affordable/low-income housing and commercial space. Chair Shabaka said the credit union's main goal for this redevelopment is to address the lack of affordable housing in the community the credit union serves. Chair Shabaka thanked the Board of Directors, the CEO and the credit union staff for all of their hard work and dedication. He stated there will be a Q & A session at the end of the meeting, so he encouraged members to submit their questions. b. CEO Report: Fadhila Holman Ms. Holman thanked the staff for their work on the Annual Meeting. She spoke about the upcoming Core Conversion and asked members to be patient with the credit union as it made its way through the first couple of months. Ms. Holman referred to her section in the Annual Report and encouraged members to read it fully. She went on to state how proud she was to be involved with a credit union that helps so many members. As both a Certified Community Development Financial Institution as well as a Minority Depository Institution, the credit union is better able to assist the under banked and underserved. Ms. Holman turned the meeting over the Linda Meza, AVP of Marketing and Business Development, so she could review the work the credit union has been doing in the community as well as review survey results from the multiple member surveys conducted through the past year. Ms. Meza summarized the educational activities and community outreach and highlighted what the credit union members can expect during the upcoming Core Computer Conversion. c. Treasurer's Report: Mike Leung Referring members to the Treasurer's Report, Director Mike Leung pointed out the Financial Performance report. He encouraged members with questions to see him after the meeting. d. Supervisory Committee Report: Shyaam Shabaka Chair Shabaka pointed out the Supervisory Committee Report in the Annual Report was there for members to review. He thanked Supervisory Committee member Alejandro De Soto for his work on the committee as well as the work he does in the community. e. Nominating Committee Report: Hemby Whitten Committee Chair Hemby Whitten reviewed the list of Board members who were up for Re-Election as well as the candidates running for Election. f. Election Results: The election results were disclosed by the League of Women Voters of Berkeley, Albany & Emeryville who supervised the Cooperative Center Federal Credit Union Board of Directors Election Report from the Teller of Elections to Co-Op Annual Meeting, July 26, 2018 • One potential petition candidate submitted names and signatures of CCFCU members supporting him. A minimum of 121 valid signatures were required for this election to place a petition candidate's name on the ballot, and he did not submit the minimum number. • A total of five candidates were contesting for two seats on the CCFCU Board. • Ballots were printed and mailed to all credit union members. • After the period for submitted voted ballots was concluded, members of the League of Women Voters came to the CCFCU offices July 24 and opened the ballot boxes. A total of 235 valid ballots were received. An additional total of 11 ballots were found to be invalid, due to 1) missing member information, making membership unverifiable; 2) voting by the non-primary member on a joint account; 3) failure to vote on the ballot, or no ballot enclosed; and 4) voting for three or more candidates. Eligible voters were verified and the ballots tallied. • In the verification and tallying process, League members separated each ballot from any identifying envelope. • A staff member verified the membership of each voter, to assure the eligibility of those casting ballots. League members entered the membership information for each voter onto a spreadsheet, and they were sorted to assure that no member voted more than once. When the voter's eligibility was confirmed, the I.D. information slip was cut from the ballot and placed in a stack, and the ballot was placed in a separate stack of eligible ballots. • Ballots were counted by League members and the tallies agreed upon by them. • Ballots and I.D. information slips are stored in separate envelopes in a vault at the CCFCU offices. Election Results from Tallied Ballots of the Ballots Tallied July 24, 2018 • One potential petition candidate submitted names and signatures of CCFCU members supporting him. A minimum of 121 valid signatures were required for this election to place a petition candidate's name on the ballot, and he did not submit the minimum number. Ipsheeta Furtado received 50 votes Deborah Matthews received 72 votes Celeste McAllister received 140 votes Jess McCarter received 71 votes Christina Oatfield received 97 votes Credit union members are allowed to also cast their ballots at the Annual Meeting this year on July 26. A total of 36 valid ballots were cast. In addition, there were two invalid ballots: one cast no votes; one voted for three candidates. The valid

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