The role of the Members Committee
The role and duties of the Committee will be determined from time to time by the Board in consultation with the Committee and may amongst other functions:
(a) provide avenues for interested members to contribute to the improvement of services to members;
(b) act as a source of personnel for committees, taskforces and focus groups established by the board to provide advice to the board;
(c) act as a source of alternate directors;
(d) provide an avenue for Board succession through participation in professional development and by exposure to Board and company policies and procedures.
The structure and composition of the Members Committee
The structure and composition of our Members Committee is outlined in the company’s constitution. Currently, the Members Committee is comprised of eight elected members. Four of the positions fall vacant each year.
Criteria for Nomination
An individual is eligible to be a member of the Members Committee if the person:
(a) is a member of the company;
(b) is not disqualified or prevented by law from being a director of a company;
(c) has not had a personal representative or trustee appointed to administer the person’s estate or property because of their mental incapacity;
(d) is not a Director or an employee of the company;
(e) provides the company with information and consents to the company determining if the person is of appropriate fitness and propriety to be a director of a company or whether they are disqualified or prevented by law from being a director of a company.
You cannot be a member of the Members Committee if you are a disqualified person under section 20 of the Banking Act 1959.
Please note that a member of the Members Committee is not a director of Teachers Mutual Bank Limited but is required to meet the standards required of a director of a company.
The electoral cycle and timeframes
If there are more than four candidates, the four vacant positions are filled by a ballot, which is sent out to all members. This process is managed by an independent Returning Officer.
The first step in the process is the annual call for nominations. This normally takes place on a specific date in August as determined by the Returning Officer. The call for nominations and other relevant information about the election is provided to each member by the Returning Officer.
The period of office for each position is two years. This commences at the end of the Annual General Meeting (AGM) at which the election is announced and ends at the close of the second subsequent AGM.
Nominating for a Members Committee position
Once nominations have been called, candidates are required to:
- Obtain a Nominations Pack from the company through the contact details included with the call for nominations information.
- Thoroughly read the nominations pack and material on this website.
- Complete the necessary forms and declarations.
- Submit all required materials to the Returning Officer in ample time before the close of nominations.
The nominations pack is available from the company once nominations have been called. It is a collection of essential background information, forms and declarations to be completed in order to nominate for a position on the Members Committee.
Candidates are encouraged to consult other relevant resources to assist them in meeting the requirements for fitness and propriety expected of a candidate for a position on the Members Committee.