ONE MEMBER ONE VOTE
FREQUENTLY ASKED QUESTIONS
WHAT DOES ONE MEMBER ONE VOTE MEAN?
Members are actually owners of Northern Credit Union. All members
have an equal say in how the credit union operates by voting in
directors to Northern’s Board of Directors and on any proposed by-law
amendments. It does not matter how much, or how little, they have in
their account. This is what makes a credit union different from a bank
or other financial institution. Every member, over the age of 18, with a
fully funded share account of $25 is entitled to have a greater say in
the future of the credit union. Northern Credit Union conducts this
voting electronically in advance of the Annual General Meeting. The
results are announced at this meeting.
WHY WOULD A MEMBER WANT TO VOTE?
This is what makes a credit union different. At Northern, we are not
controlled by a small group of shareholders that make decisions in the
interests of a few. At Northern, we make decisions in the best interests
of all our members and what a better way to do that, but to let our members have their say!
HOW DO MEMBERS VOTE?
Members can vote on-line by this page.
Here, they can get all the information about the Board nominees and
proposed By-law amendments. Once they have carefully read the
information, they can click the voting link to have their voice heard
and cast their vote electronically.
WHO IS ELIGIBLE TO VOTE?
- All Northern members, in good standing, over the age of 18
- Members must have a fully funded, $25.00 member share
- A business, corporation or partnership, is required to appoint an individual to vote on their behalf.
- If the appointed proxy is also a Member (personal member), they may vote on their own behalf as well as for the business, corporation or partnership they represent.
- Additional eligibility requirements may apply based on membership types.
CAN A MEMBER HAVE MORE THAN ONE VOTE?
Yes, a member can vote as a personal member and as a proxy for a business.
Please note: A sole-proprietor is not considered a
separate legal entity from a personal member. Therefore, if the member
is a personal member and runs a business, as a sole proprietor, they are
only legally entitled to one vote.
DO COMMERCIAL MEMBERS HAVE DIFFERENT VOTING RULES?
No. Commercial members are still only entitled to one vote.
Incorporated commercial accounts are required to appoint a proxy to
vote on behalf of the organization. They can do that by downloading the
proxy form located on the website and sending it in to Vicki Caicco
prior to March 1st. If the proxy form is not received, the member will
not be entitled to vote in this election.
WHAT ABOUT SOLE PROPRIETORS, CAN THEY VOTE ON BEHALF OF THE COMPANY AND THE PERSON?
No. Members are only entitled to one vote. Since the person and the
business are considered the same legal entity, they will only be
eligible to vote one time.
WHAT IF MEMBERS HAVE OTHER FORMS OF SHARES LIKE, LOYALTY SHARES AND CLASS B SHARES, ARE THEY ENTITLED TO ADDITIONAL VOTES?
No matter how much, or little, you have with Northern, every credit
union member has equal ownership and the opportunity to benefit from all
the advantages of being a TRUE “NORTH” OWNER. Therefore, when voting
2020 Election every member is entitled to one vote.
WHAT IF MEMBERS HAVE JOINT ACCOUNTS?
Members, who have joint account holdings are each eligible for one
vote. Each member will be required to sign into the voting portal with
his or her individual member number and password.
Note: Each member must have a fully funded share account to be eligible to vote.
WHAT DO MEMBERS REQUIRE TO VOTE?
Members can vote by:
- Follow the link to the secure voting platform which will be found on this page.
- In order to access the voting platform, each member will require their member number and their date of birth (ddmmyyyy)
- Please note – every member has their own unique member number (it is not determined by joint accounts)
- If they do not know their member number, members can refer to their bank statement, online banking profile, branch or call the True North Hub at 1-866 – 413 – 7071 (the member number starts with 7)
WHAT WILL MEMBERS BE VOTING ON?
- Directors for Northern’s Board
- By-Law Amendments