From late March until the end of April, Desjardins caisses and branches in Quebec and Ontario hold their annual general meetings (AGM). Around this time, members get a chance to voice their opinions and vote on important topics. Here are a few good reasons to attend your AGM and exercise your democratic right to vote.
1. You participate in the discussion about member dividends.*
As a cooperative, your caisse or credit union may report annual surplus earnings. Some of these funds are directly paid out to eligible members as part of the individual member dividend. Another portion is used to fund meaningful projects that are likely to have a positive impact on the local community. This is known as the community dividend.
During the AGM, members in attendance are encouraged to share their thoughts about various topics, including how surplus earnings should be split between the individual member dividend and the community dividend. Since each member only gets one vote, the outcome of the election is considered a democratic representation of everyone’s wishes.
2. You get to decide who will represent your interests on your board of directors.
Board elections take place at the AGM each year. By attending and casting your vote, you’ll have a say in who represents you during board discussions and decisions throughout the year. It’s a great way to make sure your board’s directors will be acting in the best interests of its members and clients, as per Desjardins’s mission.
3. You make yourself heard and influence caisse or credit union decisions.
The AGM is an important event that fosters dialogue between members and the board of directors. It's a great opportunity to speak up and let other members know about the issues you care about.
Do you think your caisse or credit union could financially support a promising citizen-led initiative? What about a project that would benefit the entire community?
At the end of the meeting, you’ll also have a chance to share your ideas and other points you’d like to discuss.
4. You get information about the financial situation and the financial commitments of your caisse or credit union.
During the AGM, the board of directors and general managers will go over your caisse or credit union’s financial results for the year, community projects that received support through the Community Development Fund, as well as donations and sponsorships.
The AGM is also an opportunity to understand the financial standing of your caisse or credit union and measure its socio-economic contribution to the local community.
5. You get answers to your questions.
Your board of directors makes decisions throughout the year to serve members and the long-term interests of the cooperative.
The question period at the AGM is an opportunity for you to ask the board of directors about specific decisions that were made. For example:
"Why did you make a change to the services available to members?
Why are surplus earnings higher this year?
How was the new location for a point of service determined?"
You'll be able to understand the reasons and the scope behind certain actions.
6. You get all that access… without having to take your slippers off.
Most AGMs are now streamed live. So you can participate and ask questions without being in the room. No need to be there in person to find out about past achievements, the current situation or future plans for the institution.
If your schedule doesn’t allow you to attend your AGM, a number of caisses and credit unions record the meeting so that members can watch it later. Within 4 days of the AGM, you should receive an invitation to vote on the distribution of annual surplus earnings (dividends) and on the election of board members, if applicable. You can also voice your opinion on these decisions online via AccèsD or onsite via one of the electronic voting booths available at certain Desjardins service centres. Voting only takes a few minutes.
Keep an eye on your inbox to find out the exact date of your caisse’s AGM and log in to AccèsD to download a copy of the voting form. It’s a great opportunity to let your voice be heard! After all ... A cooperative’s very purpose is to meet the needs of its members.
Look up the date of your caisse or credit union AGM.
* For members in Quebec only. Members in Ontario don't vote on the dividend.