2022 Candidate Nomination Package

Candidate Nomination Package FOR ELECTED OFFICIALS

Candidate Nomination information booklet for Elected Officials - Revised October 2022 | BPWCCUL Contents Candidate Nomination Package . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 FOR ELECTED OFFICIALS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 General Guidelines to Nominees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Nomination Packages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Submission Instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Nominee Restrictions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Election and Balloting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Polling Agents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Documentation for Nomination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Points to Note . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Responsibilities of Directors under the Co-operative Societies Act, CAP 378A . . . . . . . . . . . . . . . . . . . . . . . . . 7 Responsibilities of Directors under the Co-operative Societies Regulations, 2008 . . . . . . . . . . . . . . . . . . . . . . 7 Responsibilities of Directors under the Corporate Governance Handbook - BPWCCUL . . . . . . . . . . . . . . . . 7 Responsibilities of Directors under the Financial Services Commission Guideline No 1 . . . . . . . . . . . . . . . . 7 By-laws Related to the Board of Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Responsibilities of the Supervisory Committee under the Co-operative Societies Act, CAP 378A . . . . . . 8 Responsibilities of the Supervisory Committee under the Co-operative Societies Regulations, 2008 . . . 8 Duties of the Supervisory Committee under the Co-operative Societies Act, CAP 378A . . . . . . . . . . . . . . . 8 About the Supervisory Committee - Co-operative Societies Act, CAP 378A . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Supervisory Committee Guidelines - Financial Services Commission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 By-laws Related to the Supervisory Committee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Responsibilities of the Credit Committee under the Co-operative Societies Act, CAP 378A . . . . . . . . . . 10 Responsibilities of the Credit Committee under the Co-operative Societies Regulations 2008 . . . . . . . 10 Duties of the Credit Committee under the Co-operative Societies Act, CAP 378A . . . . . . . . . . . . . . . . . . . 10 About the Credit Committee - Co-operative Societies Act, CAP 378A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Credit Committee Guidelines - Financial Services Commission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 By-laws Related to the Credit Committee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Co-operative Societies Act, CAP 378A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Opening Hours and Contact Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 NOTES: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

Candidate Nomination information booklet for Elected Officials - Revised October 2022 | BPWCCUL 4

Candidate Nomination information booklet for Elected Officials - Revised October 2022 | BPWCCUL 5 General Guidelines to Nominees • Nominees are reminded that all forms and affidavits must be accurately completed with all required information Incomplete nomination forms will not be considered by the Credentials Committee of the Credit Union • As part of its fit and proper exercise the Credit Union will carry out mandatory judgment searches on all nominees seeking election to the Board of Directors, Supervisory Committee and Credit Committee The existence of any registered judgments would result in automatic disqualification as a nominee • Nominations will also be subject to review by the Financial Services Commission (FSC) against their fit and proper criteria • Nominees are reminded that the use of the intellectual property of the Barbados Public Workers’ Cooperative Credit Union Ltd, its subsidiaries and associated companies is strictly prohibited Failure to comply with this requirement would result in automatic disqualification from the election process The intellectual property includes, but is not limited to name, logo(s), slogan, documents, branch photos, windmill, etc • Nomination queries can be sent via email to nominations@bpwccul bb • To ensure that nominees are properly briefed on the roles and requirements of elected officers, nominees will be required to participate in educational workshops and nominee forums as a lead up to the Annual General Meeting Nominees will be provided with at least two weeks’ notice prior to the date of such workshops and forums Nomination Packages Nominations packages will be available at all branches of the Credit Union and on the Credit Union’s website at wwwpublicworkers bb Packages will include: 1) Letter from the Secretary of the Board 2) AGM Nominee Checklist 3) Nomination Form 4) Affidavit of Fitness to Serve 5) Biography Form 6) FSC Fit & Proper Questionnaire 7) AGM Nominee Letter of Consent 8) General Member Information Form* *(Two (2) valid (unexpired) forms of government issued photo identification and one proof of address not older than three (3) months from the date of submission of documents are required ) Submission Instructions Nominees are required to complete the Financial Services Commission’s (FSC) Fit and Proper questionnaire All requested information - i e a valid (not expired) Police Certificate of Character, a certified copy of the photo page of a valid passport and a curriculum vitae – must accompany the questionnaire Completed nomination forms and all required supporting documentation must be returned in a sealed envelope addressed to: The Credentials Committee, Barbados Public Workers’ Co-operative Credit Union Ltd Clarence Greenidge House Keith Bourne Complex Belmont Road, St Michael by the deadline stated in the enclosed letter from the Secretary, Board of Directors Nominee Restrictions • Nominees are not permitted to identify members for registration at the Annual General Meeting (AGM) • Nominees are not permitted to enter any designated counting area during counting of ballots

Candidate Nomination information booklet for Elected Officials - Revised October 2022 | BPWCCUL 6 Election and Balloting Officers of the Board and Supervisory and Credit Committees shall be elected at the Annual General Meeting of the Society in each year as herein provided Every election shall be by ballot except where there is no contest An electronic tabulation process will be used to determine the successful nominees to the elected committees of the Credit Union Polling Agents Polling agents are appointed by nominees to observe the counting of votes on their behalf and therefore, polling agents must be identified to the Chairman/Assistant Chairman of Elections before voting commences at the Annual General Meeting Consent to Publish Biographical Information of Nominees Nominees should indicate on the Nomination Form whether they consent to the publishing of their biographical information on our website and other BPWCCUL communication channels prior to the Annual General Meeting If we see no indication of your consent to the release of this information, we will take it that you have decided not to avail yourself of this medium of exposure Documentation for Nomination Each nominee to the Board of Directors, Supervisory Committee and Credit Committee shall on or before the date and time stated in the enclosed letter from the Secretary, Board of Directors submit: 1) A completed nomination form to the Credentials Committee, Barbados Public Workers’ Co-operative Credit Union Ltd , Clarence Greenidge House, Keith Bourne Complex, Belmont Road, St Michael with the names of not less than four (4) proposing members of the Society along with their correct account numbers 2) A signed letter of consent confirming his/her willingness to be nominated for the Board of Directors, Supervisory Commitee or Credit Committee Where a polling agent(s) is/are selected, the name(s) of his/her polling agent(s) should also be submitted at that time 3) A brief profile of him/herself, along with a passport size photograph 4) A completed and signed Affidavit of Fitness to Serve, witnessed by a Justice of the Peace with the JP’s official stamp affixed to the document wherever possible 5) A completed Fit and Proper Questionnaire along with a valid (not expired) Police Certificate of Character, picture page of a valid passport and a curriculum vitae 6) A completed General Information Form (enclosed) accompanied by copies of two (2) valid forms of photo identification and proof of address These forms must be certified by a Justice of the Peace or other authorized individual Points to Note Where a nominee is elected, he/she must: 1) Meet with other members of the new Board, Supervisory Committee or Credit Committee within forty-eight (48) hours after the close of the Annual General Meeting 2) Avail him/herself to training opportunities provided through the Credit Union • Where he/she elects not to submit the nomination form in person, ensure that the nomination form is in order and submitted by a representative and that he/she receives a receipt for submitting the nomination form • Nominees must be present in person on the day of the Annual General Meeting However, in the event that you are unable to be present at the AGM, or may arrive after the start of the voting process, you should notify the Group CEO; Chairman or Assistant Chairman of Elections by emailing nominations@bpwccul bb • Nominee information and documentation submitted as part of the election process becomes the property of the Barbados Public Workers’ Co-operative Credit Union Limited The Credit Union is therefore under no obligation to return all or any documents received

Candidate Nomination information booklet for Elected Officials - Revised October 2022 | BPWCCUL 7 Responsibilities of Directors under the Co-operative Societies Act, CAP. 378A Every director and officer of a society in exercising his powers and discharging his duties shall: a) act honestly and in good faith with a view to the best interest of the society, and b) exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances (Section 70) The directors shall keep minutes of: a) all appointments of officers and committee members made by them; b) all the names of the directors present at each meeting of the directors; and c) all resolutions and proceedings at meetings of the society or the directors (Section 60 (1)) Subject to this Act, the regulations and the by-laws, the Board of Directors, however, designated shall: a) exercise the powers of the society directly or indirectly through the employees and agents of the society; and b) direct the management of the business and affairs of the society (Section 54(1)) 1) The Board of Directors may from time to time a) appoint from among its number any committee it considers necessary; and b) by resolution, delegate to any committee any powers that it considers necessary for the efficient conduct of the affairs and business of the society 2) A committee of directors that has powers delegated to it pursuant to subsection (1) (b) must consist of at least 3 directors 3) A member of a committee holds office until a) his/her removal by resolution of the Board of Directors; or b) he/she ceases to be a member of the Board of Directors 4) A committee may exercise any powers of the Board of Directors that are delegated to it by resolution of the Board of Directors, subject to any restrictions contained in the resolution (Section 55 (1-4)) Responsibilities of Directors under the Co-operative Societies Regulations, 2008 • The directors of a society shall hold at least one meeting every month (Section 14) • For the purposes of Section 76 of the Act, the Board of Directors of a society shall appoint a secretary and a treasurer and, unless the secretary and the treasurer so appointed are members of the Board of Directors, the board shall have the power to fix the remuneration for their service (Section 15 (1)) Responsibilities of Directors under the Corporate Governance Handbook - BPWCCUL • The Board of Directors, as the internal governing body, must exhibit high ethical standards in all personal and professional interactions Each director must take an active role in the planning and decision‐making process, maintain a favourable Credit Union image and maintain confidentiality and secrecy regarding proprietary information associated with financial matters and the functions of the Credit Union Responsibilities of Directors under the Financial Services Commission Guideline No .1 (Section 1) A policy is required for the review and approval by the Board of Directors of the risk management policies, and the regular updating of such policies (Section 3) The policy must ensure that the Board of Directors receives and reviews risk management reports on key areas of operations for which risk management policies have been established, including: • Credit Risk • Operational Liquidity Risk • Operational Risk • Capital Management • Market Risk (investments)

Candidate Nomination information booklet for Elected Officials - Revised October 2022 | BPWCCUL 8 By-laws Related to the Board of Directors (Section 32 (1)) Subject to the provisions of the Act, the general direction and management of the Society shall be entrusted to a Board of Directors consisting of nine (9) members Five (5) shall form a quorum (Section 34 (1)) The Directors shall be elected at the Annual General Meeting of the Society in each year as herein provided Every election shall be by ballot except where there is no contest No member may be elected to the Board of Directors unless he holds twenty-four (24) fully paid shares in the Society and has been a member for at least six (6) months (Section 38 (2)) Directors shall be elected at the Annual General Meeting and may hold office for two (2) consecutive terms of three (3) years each, before retiring for a minimum of one (1) year, provided that at least three (3) members shall retire each year (Section 39 (1)) Where persons are to be elected for varying terms, the member receiving the highest number of votes cast, is to be declared elected for the longest or longer term as the case may be Responsibilities of the Supervisory Committee under the Co-operative Societies Act, CAP. 378A (Section 216) 1) The Supervisory Committee shall meet at least once every three (3) months, and, where no auditor has been appointed pursuant to section 215(2), shall meet at least every month, and shall at each such meeting examine the affairs of the Credit Union 2) The Supervisory Committee shall keep minutes of its meetings and shall, a) within seven (7) days of each meeting report the results thereof in writing to the Board of Directors; and b) submit a written report to the Annual General Meeting of the members of the Credit Union Responsibilities of the Supervisory Committee under the Co-operative Societies Regulations, 2008 (Section 17) For the purposes of section 212 of the Act and subject to the Act and by-laws, the Supervisory Committee of a society shall: a) appraise the policies and operating procedures of the society and make recommendations to the Board of Directors and to the Credit Committee; b) attest to the monthly returns filed in compliance with section 127(2) of the Act; c) receive and investigate any complaints made by members of the society about the management of the society; d) monitor the management of the society; e) ensure that the society complies with the provisions of the Act, these Regulations and the by-laws; and f ) verify the assets of the society and monitor whether the assets are properly protected Duties of the Supervisory Committee under the Co-operative Societies Act, CAP. 378A (Section 212) The Supervisory Committee shall examine the books of the Credit Union, confirm the cash instruments, property and securities of the Credit Union and confirm the deposits of the members and perform such other duties as are prescribed by this Act, the regulations and the by-laws of the Credit Union

Candidate Nomination information booklet for Elected Officials - Revised October 2022 | BPWCCUL 9 About the Supervisory Committee - Co-operative Societies Act, CAP. 378A (Section 211) 1) Every Credit Union shall have a Supervisory Committee who shall be elected by its members at the Annual General Meeting 2) The members of a Supervisory Committee hold office for such term as the By-laws provide and until their successors are elected 3) The Supervisory Committee shall consist of the number of members fixed by the By-laws, which shall be not fewer than three (3) 4) No person who is a member of the Board of Directors or Credit Committee or who is an officer of the Credit Union shall be a member of the Supervisory Committee 5) No member shall be a member of the Supervisory Committee unless he has attained the age of 18 years 6) A majority of the Supervisory Committee constitutes a quorum 7) A member entitled to vote at an election of members of the Supervisory Committee, if he votes, shall cast a number of votes equal to or less than the number of members of the Supervisory Committee to be elected, and the member shall distribute the votes among the candidates in such manner as he sees fit, but no candidate shall receive more than one (1) vote from each member 8) Where a vacancy occurs in the Supervisory Committee, the Supervisory Committee may fill all vacancies until the next Annual General Meeting of the Credit Union 9) The By-laws of the Credit Union may provide for the election and retirement of members of the Supervisory Committee in rotation, but in that case no member shall be elected for a term of more than three (3) years (Section 213) When a member of the Supervisory Committee fails to attend three (3) consecutive meetings of the Committee without, in the opinion of the Supervisory Committee, having a reasonable cause therefor, or fails to perform any of the duties allotted to him/her as a member of the Committee, his/her position on the Committee may be declared vacant by the remaining members of the Committee who may appoint a qualified person to fill the vacancy until the next Annual General Meeting of the Credit Union Supervisory Committee Guidelines - Financial Services Commission Under Guideline No 4 the Supervisory Committee of each Credit Union must establish and implement a complaints procedure that addresses the following items: 1) The Supervisory Committee shall establish and adhere to procedures for the handling of complaints from members and other customers of the Credit Union about the management of the Credit Union that are designed to encourage the resolution of such complaints 2) The Supervisory Committee may hear and resolve complaints from members or customers of the Credit Union 3) The Supervisory Committee shall maintain a record of written complaints received and the proportion of those complaints the Supervisory Committee believes have been resolved to the reasonable satisfaction of the member or customer By-laws Related to the Supervisory Committee The Supervisory Committee shall consist of three (3) members, none of whom shall be a member of the Board of Directors, the Credit Committee or an employee of the Society (Section 56 (1)) A vacancy on the Committee shall be filled by the remaining members of the Committee who may appoint a qualified member until the next Annual General Meeting at which a member shall be elected to fill the vacancy for the unexpired term (Section 56 (3)) The Supervisory Committee shall choose from its number a Chairman and a Secretary These offices shall not be held by the same person (Section 57) The Supervisory Committee shall meet at least once a month to perform the duties as performed in the Act, Regulations and By-Laws (Section 58 (1))

Candidate Nomination information booklet for Elected Officials - Revised October 2022 | BPWCCUL 10 Responsibilities of the Credit Committee under the Co-operative Societies Act, CAP. 378A (Section 209) 1) The Credit Committee shall: a) meet at least once every month; b) keep minutes of its meetings; c) submit a report to the Board of Directors stating, I the number of loan applications received, II the number and categories of loans granted, III the security obtained for such loans, IV applications denied, and delinquent loans; and d) submit an annual report on the matters referred to in paragraph (c) to the Annual General Meeting of the Credit Union 2) The members of a society may, by special resolution in a special meeting called for the purpose, remove a Credit Committee which fails to comply with paragraph (c) of subsection (1) Responsibilities of the Credit Committee under the Co-operative Societies Regulations 2008 (Section 28) 1) For the purposes of Section 206 of the Act and subject to the Act and by-laws, the Credit Committee of a Credit Union shall: a) recommend to the Board of Directors policies and procedures to be followed by the Credit Union for approving and granting loans made by the Credit Union; b) monitor, through reports from the Credit Union’s auditor and other officers of the Credit Union, loan procedures used by the Credit Union; c) consider all applications for loans, loan extensions and revisions of the terms of loans that are referred to it by the Board of Directors or an officer of the Credit Union; and d) consider reports of officers of the Credit Union that are submitted to it pursuant to that section 2) The Credit Committee of a Credit Union shall keep a record, with respect to each application for a loan or a renewal or extension of a loan considered by it, of: a) the name of the applicant; b) the amount of the loan applied for or the change in the terms or conditions applied for; and c) whether the application was approved, declined or deferred Duties of the Credit Committee under the Co-operative Societies Act, CAP. 378A (Section 206) The Credit Committee shall: a) consider all applications for loans which are not considered pursuant to section 208(2); b) make recommendations to the Board of Directors in respect of the loan policy of the Credit Union; and c) perform such duties as are prescribed under this Act, the regulations and the By-laws of the Credit Union About the Credit Committee - Co-operative Societies Act, CAP. 378A (Section 205) 1) Every Credit Union shall have a Credit Committee, which shall be elected by its members at the Annual General Meeting 2) The members of a Credit Committee hold office for such term as the By-laws provide and until their successors are elected 3) The Credit Committee shall consist of the number of members fixed by the By-laws which shall be not fewer than three (3)

Candidate Nomination information booklet for Elected Officials - Revised October 2022 | BPWCCUL 11 4) A majority of the Credit Committee, constitutes a quorum 5) Where a vacancy occurs in the Credit Committee, the Board of Directors may fill the vacancy until the next Annual General Meeting of the Credit Union 6) The By-laws of the Credit Union may provide for the election and retirement of members of the Credit Committee in rotation, but in that case no member of the Credit Committee shall be elected for a term of more than three (3) years (Section 208) 1) The Board shall determine the terms and conditions upon which the Credit Committee shall approve loans to members 2) The Credit Committee may, upon such terms and conditions as the Board of Directors specifies, authorize the treasurer, manager or other employee of the Credit Union to approve loans to members 3) Any person authorized by the Board of Directors to approve loans under subsection (2) shall submit a written monthly report to the Credit Committee stating the number of loan applications received, the number of loans granted and the security, if any, obtained for such loans 4) The responsibilities and duties of any person authorized to approve loans under subsection (2) are concurrent with the responsibilities and duties of the Credit Committee Credit Committee Guidelines - Financial Services Commission Each Credit Union is required to implement a policy that addresses the following: 1) Authorised types and classes of credit instruments; 2) Limits and prohibitions on credit exposures, including concentration; 3) Assessment criteria and security requirements for each authorized credit instrument 4) A credit assessment and monitoring system; 5) Defined and prudent levels of decision making authority for approving credit exposures; and 6) Management of delinquent and doubtful loans By-laws Related to the Credit Committee The Credit Committee shall consist of three (3) members, none of whom shall be a member of the Board of Directors, the Supervisory Committee or an officer or employee of the Society (Section 53 (1)) Any vacancy on the Committee shall be filled by the Board of Directors, but such member shall hold office only until the next Annual General Meeting, at which a member shall be elected to fill the vacancy for the unexpired term (Section 53 (3)) The Credit Committee shall hold such meetings as the business of the Credit Union may require but not less frequently than once per month Due notice of such meetings shall be given to other members of the Committee by the Secretary of the Committee (Section 53 (7)] A majority of the Credit Committee constitutes a quorum (Section 53 (8))

Candidate Nomination information booklet for Elected Officials - Revised October 2022 | BPWCCUL 12 Penalties Co-operative Societies Act, CAP. 378A (Section 250A (1)) Any person who contravenes paragraph (c), (d), (e), (f ) or (g) of Section 57 of the Co-operative Societies Act, CAP 378A i e : • is not a member of the society; • is convicted of an offence involving fraud or dishonesty; • is convicted of an offence under this Act; • is the auditor of the society; • is convicted on indictment of an offence in connection with the promotion, formation or management of a body corporate, is guilty of an offence and is liable on summary conviction to a fine of $10,000 or to imprisonment for 2 years, or to both (Section 250 (3) & (4)) (3) Any officer or member of a society who willfully contravenes the by-laws of the society relating to his duties or functions as such officer or member is guilty of an offence (4) A person guilty of an offence under this section is liable to a fine of $2,000 or imprisonment for 6 months or to both

Candidate Nomination information booklet for Elected Officials - Revised October 2022 | BPWCCUL 13 Opening Hours and Contact Information Branches Belmont Road Broad Street Emerald City - Main Branch Emerald City - Supermarket Carlton Complex, Black Rock Mile & A Quarter, St. Peter Opening Hours: Monday to Thursday: 8:00 AM - 3:30 PM Friday 8:00 AM - 4:00 PM Saturday : 9:00 AM - 12 NOON The times are subject to change Mailing Address: Olive Trotman House Keith Bourne Complex Belmont Road St Michael BB14000 Barbados Phone: (246) 622-9000 (PBX) Fax: (246) 437-8745 Website: www publicworkers bb Contact Centre Information Phone: (246) 622-9000 E-mail: contact@bpwccul bb From the USA, Canada and the Caribbean Toll free: 1-866-800-6146 From the United Kingdom Freephone: 0808-234-1327

Candidate Nomination information booklet for Elected Officials - Revised October 2022 | BPWCCUL 14 NOTES:

RkJQdWJsaXNoZXIy MTA2MDM=