AGM | 2016 | Director's Report

Bute and Cowal Credit Union Ltd.

Twenty-second Annual General Meeting 3^rdFebruary 2016

Directors’ Report  

The report covers the year October 2014 – September 2015 and to 19.1.16.

We thank the officers of St. Paul’s Church for once again offering us the use of the Church for our Annual General Meeting. It is greatly appreciated.

During the year the first stages of the implementation of changes to the regulations governing credit unions were introduced. This meant a steep learning curve and a great deal of work for your Board and Staff. The purchase of an app. for our financial software (Custom) means we are able to deal electronically with the reports to our regulators concerning the state of readiness of members’ details in relation to the Financial Services Compensation Scheme.

I am pleased to report we are on top of all this and we are confident we will meet all requirements when they are fully implemented in the current year. However, we need to reinforce our Board for the longer term, and this will be a priority effort in the current year.

Dunoon | New Opening Hours

Bute and Dunoon offices are both now open on Saturday 10:00am to 12:30pm

29 Ferry Brae - Now open

Our new Dunoon Office was official opened on Friday 13th. November at 29 Ferry Brae by Guest of Honour, local MP Brendan O’Hara.

Speaking to a crowded Ferry Brae office, Mr. O’Hara expressed his pleasure at being asked to perform the opening ceremony. Being a supporter of credit unions and viewing them as an important alternative to banks, he was delighted that Cowal would now have a suitable base from which to deliver credit union services. He urged us to “spread the word” and emphasised the importance of working with primary schools to encourage habits of thrift and financial prudence in our young people.

Local Councillor Michael Breslin was equally supportive in his comments and offered his help in any way he can.

Our President, Janet O’Sullivan, described the day as the fulfilment of a long held aim to extend the credit union’s services to serve Cowal as well as Bute. While thanking everyone for their expression of support by words and by attending the opening, Janet drew attention to the sterling work done by our Director and local resident Michael Boyce, Manager Peter Flanagan, Anne Cameron and Shirley Robins in getting the office off the ground and firmly established; she gave them her grateful thanks. Janet  further thanked Argyle and Bute Third Sector Initiative, formerly Argyll Voluntary Action, for their generosity in giving space for a pop-up office in their Edward Street premises which allowed our credit union to become known and begin providing services until suitable premises were obtained. This meant No.29 hit the ground running.

A very successful morning closed with a splendid buffet and time to network and socialise – under the benign oversight of Inspector Euan Wilson.