Teachers AGM
Teachers Building Society received votes from 4,094 members, 21.9% of those eligible, for its AGM held at the Allendale Centre in Wimborne recently.
The members voted to receive the Directors’ Report and Annual Accounts, which showed the Society made a profit in 2008 amid a very challenging economic climate and despite provisions made for the Society’s required contributions to the Financial Services Compensation Scheme (FSCS). Members also voted to elect 2 new directors, including the Society’s Secretary and Solicitor, Karen Flaherty.
Marketing Manager Mike Hislop says “Our AGM was very well supported by our members, both in terms of a higher turn-out on the day and the number of members voting by proxy. We are committed to a very high level of customer service and ensuring that our members feel a true part of the Society, so we are delighted that members are continuing to place their trust in Teachers.”
A key discussion point at the meeting was the levy that Teachers Building Society is having to pay to the FSCS as a result of the rescue of failed banks including Bradford & Bingley. The Society’s directors and members are unified in their belief that the levy is having a disproportionate impact on UK building societies and members who attended the AGM asked what they could do to support the ongoing campaign to achieve a more equitable scheme.
The results of each resolution as announced at Teachers Building Society’s AGM are as follows:
1. To receive the Directors’ Report, Annual Accounts, Annual Business Statement and Auditors’ Report for the year ended 31 December 2008
For: 3,886
Against: 139
2. To receive the Directors’ Remuneration Report
In favour : 3,279
Against: 663
3. To re-appoint Deloitte LLP as the Society’s auditors until the conclusion of the next Annual General Meeting.
For: 3,726
Against: 297
4. To elect or re-elect directors as follows:
(a) To re-elect SIMON EDWARD GORHAM
For: 3,532
Against: 425
(b) To re-elect MARTIN JOHN REED
For: 3,502
Against: 450
(c) To elect KAREN ANN FLAHERTY
For: 3,559
Against: 387
(d) To elect ROY JOHN SPRAGG
For: 3,477
Against: 447
