RULES OF THE HARP & CROWN CREDIT UNION


INTERPRETATION

REGISTERED OFFICE, OBJECTS AND POWERS

1.        Credit Union Name
2.        Credit Union Registered Office
3.        Credit Union Objects
4.        Permissions, Power to accomplish objectives and Social Goals.

MEMBERSHIP

5.        Membership Qualification
6.        Application for Membership
7.        Members and Joint Accounts
8.        Entrance Fee and Annual Administration Fee
9.        Non-Qualifying Members

CESSATION OF MEMBERSHIP

10.       Cessation of Membership
11.      Expulsion from Membership
12.      Suspension and Notice of Expulsion
13.      Appeal against Expulsion
14.      Dormant Membership
15.      Withdrawal from Membership.

SHARES

16.        Shares
17.        Attachment of Shares
18.        Maximum Shareholding
19.        Minimum Shareholding
20.         Withdrawal of Shares
21.        Liability after Withdrawal or Expulsion
22.        Insurance on Shares

LOANS TO MEMBERS

23.        Loan Policy
24.        Maximum Loan
25.        Loans to Joint Accounts
26.        Guarantors
27.        Loans to Directors, Officers and Employees of the Credit Union
28.        Insurance on Loans
29.        Recovery of Debt

CAPITAL AND LIQUIDITY REQUIREMENTS

30.        Building Capital and Liquidity Requirements

APPLICATION OF PROFITS

31.         Calculation of Surplus
32.        Building Institutional Capital
33.        Distribution of Surplus
34.        Dividend on Shares
35.        Rebate of Interest on Loans
36.        Payment of Dividends and Interest Rebates

MEMBERS’ MEETINGS

37.        Members’ Meetings
38.        Annual General Meeting
39.        Order of business at the Annual General Meeting
40.        Special General Meeting called by the Credit Union
41.        Special General Meeting called by the Members
42.        Business at a Special General Meeting
43.        Quorum
44.        Voting Rights
45.        Chairing the Meeting
46.        Adjournment of Meeting

NOMINATING AND ELECTING OFFICERS

47.        Nomination for election
48.        Nominations Committee
49.        Election Procedures
50.        Prohibition of certain persons as Officers

DIRECTORS

51.        Number of Directors
52.        Terms of Office
53.        Meetings
54.        Requesting a Special Meeting
55.        Board Quorum
56.        Voting at Board Meetings
57.        Failure to attend Meetings
58.        Casual Vacancy
59.        Vacation of Office
60.        Delegation of Power
61.        Validity of Actions
62.        Payment of Expenses and Honoraria
63.        Responsibilities of Directors
64.        Executive Officers
65.        Term of Office of Executive Officers
66.        President/Chairperson
67.        Secretary
68.        Treasurer

CREDIT COMMITTEE

69.        Establishment of Credit Committee
70.        Responsibility of Credit Committee
71.        Loan Officers

INTERNAL AUDIT/SUPERVISION

72.        Roles and Responsibilities
73.        Suspension from Office
74.        Special General Meeting called by Supervisory Committee
75.        Suspension from Supervisory Committee
76.        Suspension Procedure

DIRECTORS, OFFICERS AND EMPLOYERS

77.        Conflict of Interest
78.        Confidentiality
79.        Provision of Insurance and Associated Cover
80        Indemnity
81        Failure to fulfil office

ACCOUNTS, AUDITS RETURNS AND RULES

82.        Appointment of Auditor
83.        Auditor’s entitlement to attend meetings
84.        Availability of Accounts
85.        Filing of Accounts with the Authority
86.        Availability of Rules

CREDIT UNION RECORDS

87.          Maintenance of Register
88.        Retention of Records
89.        Inspection of Accounts
90.        Record of Accounts
91.        Conducting Transactions
92.        Nominees
93.        Payment to Nominee
94.        Bankruptcy
95.        Incapacity to Control Affairs

AMENDMENTS TO RULES AND USE OF LEGAL SEAL

96.        Amendment to Rules

COMPLAINTS AND DISPUTES

97.        Internal complaints procedures
98.        Financial Ombudsman Service
99.        Court Referrals

STATUTORY APPLICATIONS TO THE AUTHORITY

100.        Dissolution of credit union
101.        Distribution of funds on dissolution

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