Savings Banks’ Union Coop General Meeting

The General Meeting of the Savings Banks’ Union Coop is held annually before the end of May at the cooperative’s registered office location in Helsinki, or in Espoo or Vantaa. The established practice is for the meeting to be held in March. The meeting is convened by the Board of Directors. An extraordinary General Meeting is held whenever the Board deems it necessary or one must be held for statutory reasons.

The agenda of the annual General Meeting includes the items listed in the central institution rules, including the central institution’s income statement and balance sheet for the previous accounting period, approval of the Group’s IFRS financial statements, selection of members for the Supervisory Board and Board of Directors, and appointment of the auditor.

The invitation to the General Meeting must be sent to the members at the earliest four weeks and at the latest one week prior to the meeting to the postal address in the possession of the central institution, or to an email address or other data communication link supplied to the central institution by the member for the purpose of delivering the invitation, or by issuing a notice of the meeting on the central institution’s Intranet.

At the General Meeting, a member has the same number of votes as his or her holding of central institution shares. The Savings Banks obtain additional votes in a way described in more detail in the central institution rules, so that additional votes may account at most for half the number of votes based on shares. However, a member may only vote using no more than ten per cent of the number of votes represented at the meeting. A member at a General Meeting only has a single vote, if, for reasons of his or her own financial difficulties, the member has been in receipt of financial support based on a cooperative decision, and the support fulfils the criteria detailed in the central institution rules.

Central institution member organisations owned by central institution members and those owned jointly with the central institution may participate in the General Meeting in that they have a right to speak but no voting right.