CONSUMERS COOPERATIVE ASSOCIATION
NOTICE OF VOTE ON
PROPOSED AMENDMENT TO
TO: MEMBERS OF THE CONSUMERS COOPERATIVE ASSOCIATION
AN AMENDMENT RECODIFYING THE BYLAWS OF THE CONSUMERS COOPERATIVE ASSOCIATION (“CCA”) has been proposed by the CCA Board of Directors. The proposed Bylaw amendment (“Proposed Bylaws”) will be considered and acted upon by the Members present at the Annual Meeting of CCA to be held immediately after the Annual Meeting of Consumers Credit Union at Great Wolf Lodge, 1700 Nations Drive, Gurnee, Illinois 60031, on Wednesday, March 20, 2019 which commences at 6:30 p.m.
The current Bylaws were last amended in 1993. The purpose of the Proposed Bylaws is to recodify the existing CCA Bylaws to set forth usual and customary terms for an association’s governing standards in a more comprehensive and up-to-date format. The Proposed Bylaws will provide more clarity, guidance and direction, as CCA pursues its current operations and activities. Among the provisions specifically addressed are: (i) CCA’s educational, charitable and other non-profit purposes; (ii) member qualification, admission and meetings; (iii) board of directors number, tenure, qualifications, election, meetings and appointment of committees; (iv) required officers and their duties; (v) contracts and deposit of funds; (vi) gifts and contributions; (vii) audits; (viii) corporate seal; (ix) bylaw amendment procedure; (x) limited liability of directors, officers and other non-compensated persons; and (xi) indemnification of directors, officers, employees and agents.
Recommendation of the CCA Board of Directors:
The Proposed Bylaws were drafted by the Bylaw Committee appointed by CCA’s Board of Directors with substantial input from an attorney and a consultant specializing in association law and regulation, and has been reviewed by the CCA Board of Directors who believe that the proposed Bylaws create a governance framework that will serve CCA and its members well for many years to come. For the reasons set forth above the CCA Board of Directors recommends that the members in attendance at the Annual Meeting vote to approve the Proposed Bylaws.
Visit www.myconsumers.org/CCA to view full text of the Proposed Bylaws.
Consumers Cooperative Association
Please note the proposed Bylaw Amendment relates to Consumers Cooperative Association, a sponsor of Consumers Credit Union. The proposed Bylaw Amendment in no way relates to or will impact the Bylaws of the credit union.