Balance Sheet

NOMINATIONS & ELECTIONS contd.

BOaRD OVeRSiGht cOmmittee

Patrick O’Brien, Stephen O’Sullivan and Seamus Buckley resigned from the Board Oversight Committee in 2022. John Lyons, Martina Flynn and Nisha Srinivasan were co-opted to fill these vacancies and, in accordance with Rule 57 retire and being eligible, seek election to the Board Oversight Committee.

John lyons

John joined the Cara Credit Union Board Oversight Committee in April 2022. He is a finalist of the Association of Chartered Certified Accountants and a Certified Accounting Technician. He also holds a Diploma in Applied Physics and is a qualified electrician. John is involved in the retail sector and resides in Tralee.

martina Flynn

Martina joined the Board Oversight Committee of Cara Credit Union in March 2022. She previously served as a Director of Clanmaurice Credit Union, where she served on the Investment and Risk Committees. Martina holds a Masters in History of Family and is a Certified Public Accountant. She resides in Causeway.

nisha Srinivasan

Nisha joined the Board Oversight Committee of Cara Credit Union in 2022. Nisha started her career with financial institutions and worked extensively in the educational publication industry. Nisha resides in Tralee.

She holds a Master's Degree in Financial Management and also holds an Accounting Technician Certificate from the Institute of Chartered Accountants of India.

Voting

1. Each member shall be entitled to one vote irrespective of his/her shareholding, in accordance with section 82(2) of the Credit

Uunion Act, 1997 (as amended). 2. As the AGM will be a virtual meeting, voting on motions and elections will be by electronic means. Each member registered for and attending the virtual AGM, will be given the opportunity to exercise their vote electronically during the meeting.

election Procedure - electronic Voting

3. Following the announcement of nominations, attendees will be given the opportunity to vote electronically ‘Yes’ or ‘No’ for each candidate. Those in attendance will be given 30 seconds to record their vote. The mechanics of the electronic virtual voting process will be explained in more detail at the

AGM by the Chair. Elections shall be in the following order: a. nominations for auditor b. nominations for members of the board oversight committee c. nominations for directors. 4. The votes will be tallied electronically and verified by our Internal auditor. When all elections have been completed and results become available the chair will announce the results.

motions

5. In light of the specific difficulties, we are facing in holding an annual General Meeting this year due to Covid-19, the purpose of this year’s AGM is to deal with the essential business of the credit union. 6. The essential business of the credit union includes statutory reporting to members on the financial status of the credit union and elect officers. There will be no motions from the floor due to the difficulties in managing same remotely. 7. Members will be invited to submit questions to the board via ‘Chat’ button on the toolbar in the Zoom Webinar and the board will address these during the AGM. 8. All motions must be proposed and seconded by members present at the AGM and moved by the proposer. 9. A proposer of a motion may speak for such period as shall be at the discretion of the chair of the meeting and shall have the right of reply before the motion is put to the meeting for a vote. 10.In exercising his/her right of reply, a proposer may not introduce new material. 11.The seconder of a motion shall have such time as shall be allowed by the chair to second the motion. 12.The chair shall have the absolute right to decide at any time when a motion has been sufficiently discussed and may put the motion to the meeting giving the proposer the right of reply before doing so.

miscellaneous

13.The chair of the board of directors shall be the chair of any general meeting, except where he/she is not available, in which case it shall be the vice-chair, except where he/she is not available, in which case the board shall decide amongst themselves who shall act as chair of any general meeting. 14.The chair may at his/her discretion, extend the privilege of the floor to any person who is