Overview of the Director Nomination and Election Process

A. Eligibility Requirements and Director Competencies

Each year, the Director Nomination and Election process begins in October and concludes with an election in April.

There are mandatory requirements for an individual to be eligible to be a director of CUA.  Pursuant to section 7.13 of the Charter By-Laws, an individual is not eligible to be a director of CUA if any of the following parameters exist:

  • anyone who is less than nineteen (19) years of age (this will be less than 18 years of age effective July 1, 2020);
  • anyone who is not an individual;
  • a person who has the status of an undischarged bankrupt;
  • a current employee of CUA, or any immediate family member of the employee or anyone who, in the past three (3) years has been an employee, or is an immediate family member of a former employee of CUA, Atlantic Central, League Savings & Mortgage Company or the Nova Scotia Credit Union Deposit Insurance Corporation;
  • an auditor of CUA or a member (whether a partner or employee) of the firm of accountants of which the auditor is a member;
  • a solicitor of CUA, or a member (whether a partner or employee) of the firm of solicitors of which the solicitor is a member;
  • a person who is in breach of any policy of CUA;
  • a person employed in the Civil Service whose official duties are concerned with the affairs of credit unions; and,
  • a person who has a loan with CUA that is more than forty-five (45) days in arrears.
In addition, effective July 1, 2020, anyone who is not a permanent resident of Canada is not eligible to be a director of CUA.

Further and pursuant to section 7.14 of the Charter By-Laws, a director cannot apply for an employment position with CUA while he or she is an active director or for a period of three (3) years after having ceased to be a director of CUA.  No immediate family member of a Director shall be eligible for employment or any position with CUA while the director is an active director of CUA.

In addition to these mandatory requirements, director competencies and skills are identified by the Board in order to ensure the necessary capabilities exist on the collective Board.  The capabilities are deemed to be key to the effective conduct and operation of the Board as well as to the success of CUA.  To support this identification, the Board conducts a thorough assessment of its existing skills and competencies prior to the commencement of the Director Nomination and Election process.  It reviews this information to determine if there are any gaps that should be filled in the upcoming director election.

These identified competencies are communicated when the nomination period begins on October 15th and are based on what the Board has concluded best complements the existing skillsets and profile of the Board.

B. Recommended Candidates

CUA follows a common governance practice of recommending candidates to the membership, which is carried out by other credit unions across Canada.  This practice is also in response to member feedback that they want to know the Boards’ view of the skills or competencies needed on the Board.

To arrive at recommended candidates, the Governance Committee conducts a rigorous interview and assessment process.  The Committee considers that all candidates have clearly demonstrated compliance with eligibility requirements and it is the Committee's view, and approved by the Board, that the recommended candidates possess the skills, traits and experience that will best complement and strengthen the existing Board.

This means that certain candidates will be noted as "recommended" in the election communications and on the ballot.  This is intended to be information that the member may or may not consider.  It continues to be the right of each member to decide how to vote.

Further, receiving the designation of “Board Recommended” reflects the needs of the CUA Board.  It is not a reflection of the candidate.  Someone could be recommended in one year and not the next, as the designation reflects the current board makeup, strategic priorities and existing competencies.

C. Director Nomination and Election Process Schedule

The key activities and associated timelines for the Director Nomination and Election process are as follows:

  1. Call for nominations opens and the Director Nomination Package is available on CUA’s Website. (October 15th)
  2. Call for nominations closes and all completed Nomination Forms are submitted. (November 30th)
  3. The Governance Committee reviews the Nomination Forms and confirms the eligibility of nominees. (December 31st)
  4. Interviews are held with each nominee.  The Governance Committee considers all information, including the identified competencies and skills needed on the Board, and determines which of the nominees should be recommended candidates. (January 31st)
  5. The Governance Committee recommends to the Board the slate of recommended candidates. (February 21st)
  6. All candidates are contacted and advised of their status. (February 28th)
  7. Candidates name, Candidate Statement and photograph of each eligible candidate are disseminated to members via CUA's Website, branches and Corporate Office. Information on the election is communicated through all channels, including social media. (March 15th)
  8. Voting is conducted through three options during the defined election period: 1. in-person voting at the branches and Corporate Office during business hours; 2. online voting; and, 3. in-person voting between 6:00 – 7:00 p.m., one hour before the AGM at the AGM location.
  9. The results of the election are announced at the AGM in April.
  10. Contact is made to all candidates to advise of the outcome of the election immediately following the AGM.
 

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