At the November 2019 board meeting, your directors approved a change to the voting process in order to meet regulatory requirements. All borrowers with loans who are issued voting stock and have an active loan with the association as of the Record Date will receive a ballot to vote in the Association’s election of directors and nominating committee members.
Previously, only the person designated by the borrowers to vote the stock has received a ballot. The new process is consistent with cooperative principles allowing all borrowers to have a voice in the direction of their cooperative. This change could result in a household receiving more than one Annual Meeting Information Statement. The new process will begin with the 2020 director and nominating election.
