Cooperative Center Federal Credit Union

Annual Report 2019

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Cooperative Center Federal Credit Union 2019 Annual Meeting of the Members Ed Roberts Campus | May 9, 2019 Board of Directors Present: Shyaam Shabaka, Jesse Palmer, Al Ringgold, Celeste McAllister, Christina Oatfield and Sushil Jacob Board Absent: Mike Leung Credit Union Management Present: Joseph Jabar, Linda Meza, Lindsay Youmans, Debbie Crowson and Rhonda Redo Nominating Committee Present: Hemby Whitten and Willie Phillips I. Call to Order Chair Shabaka called the 77th Annual Meeting of the Members to order at 6:00 p.m. Roll call was taken; a quorum was present. II. Minutes The Annual Meeting of the Members minutes dated July 26, 2018, were approved with any necessary corrections by consensus. III. Annual Meeting Reports a. Board Chairman's Report Chair Shabaka stated he and CEO Holman created a joint report for the Annual Report this year. He encouraged members to review the report at their leisure. Chair Shabaka spoke of some 2018 highlights, which included a new core processor, the plans to redevelop the credit union property, and the desire for the credit union to become a community-based credit union. He then thanked fellow Board members for their time and dedication to the credit union. b. CEO Report In the absence of CEO Holman, AVP of Marketing and Business Development Linda Meza spoke of the community outreach that the credit union has been a part of in the past year as well as what is coming up in 2019. She also spoke about some new products, services and financial literacy events that are also coming up. c. Treasurer's Report Controller Joseph Jabar reviewed the 2018 financials. He encouraged members who had questions to contact him either at the end of the meeting or at the credit union. d. Supervisory Committee Report Tom White thanked the staff for their hard work and spoke briefly about what the Supervisory Committee does for the credit union. e. Nominating Committee Report Nominating Committee Chair Hemby Whitten reviewed the list of Board members that 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, May 9, 2019 • There were no petition candidates for election to the Board of Directors this year. • A total of four candidates were contesting for two seats on the Cooperative Center FCU Board. Ballots were printed and mailed to all Cooperative Center FCU members. After the period for submitted voted ballots was concluded, members of the League of Women Voters came to the Cooperative Center FCU offices on May 8 and opened the ballot boxes. A total of 445 valid ballots were received. An additional 54 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; 4) duplicate ballots from the same member; 5) ballots submitted by someone other than the primary member; 6) no documentation designating a voter for a corporate ("non-natural person") membership; and 7) 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 on 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 separated 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 Cooperative Center FCU offices. Election Results from Tallied Ballots from May 9: Amira Jackmon received 258 votes Mike Leung received 222 votes Deborah Matthews received 136 votes Jesse Palmer received 214 votes Credit union members are allowed to also cast their ballots at the Annual Meeting, this year in the evening of May 9. A total of 25 valid ballots were cast. In addition, there were three invalid ballots: two did not include membership information, and one did not have proper documentation to vote on behalf of a corporation. The valid ballots included 8 votes for Jackmon; 12 votes for Leung; 6 votes for Matthews; and 18 votes for Palmer. Adding these votes to the total tallied on May 9, the results were: Amira Jackmon received 266 votes Mike Leung received 234 votes Deborah Matthews received 136 votes Jesse Palmer received 232 votes You have elected Amira Jackmon and Mike Leung to your Board of Directors. Congratulations to the winners, thanks to all the candidates for your participation, and thanks also for honoring the League of Women Voters by selecting us to be your Teller of Elections. g. Q&A Session Member questions were collected, and those that could be answered during the meeting were responded to. IT and site redevelopment-related questions may be responded to via post-meeting communications including print and electronic newsletters, email blasts, the credit union website or other forms of direct mail. IV. Adjourn The meeting adjourned at 7:48 p.m.

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