Our annual general meeting took place at the Quaker meeting hour at St Giles. Members heard about the good progress over the last year, member share capital is up 11%, loans up 59% and bad debts down by 43%. Members agreed the accounts, and elected three new board members.
As a result of the rapidly improving finances the AGM agreed to pay a 1% dividend to savers. This will be added to members’ accounts in the coming weeks.
The AGM thanked the outgoing Chair David Soward for his work over the last 12 months and welcomed Mark Luntley as the new Chair.
The keynote speaker was Steve Eyre from neighbouring Swan credit union, who explained how they have grown membership with a decentralised “community bank” approach.