VIRTUALLY on December 8th, 2026 at 4:30p.m.
NOTICE IS HEREBY GIVEN that a special meeting of the members of The Energy Credit Union Limited (the “Credit Union”), will be held VIRTUALLY on Tuesday December 8th, 2026 at 4:30p.m. Please contact our offices at 416-238-5606 ext 0 to register for this VIRTUAL event.
Notice of Special Resolution Requiring the Approval of the Members
The Board of Directors of the Credit Union has passed a by-law amending the General By-law, pursuant to section 98 of the Credit Unions and Caisses Populaires Act, 2020 (the “CU Act 2020”), and proposes, pursuant to section 100 of the CU Act 2020, that the members confirm it by a Special Resolution.
The text of the Special Resolution is as follows:
BE IT RESOLVED THAT the members confirm the By-law amending the by-laws of The Energy Credit Union Limited, as passed by the Board of Directors on October 1st 2026.
Summary of the By-law
The amending By-law primarily clarifies the Credit Union’s bond of association and related membership eligibility provisions. The proposed amendments revise the bond of association by removing the Ontario residency requirement and broadening membership eligibility to include persons and entities permitted under the CU Act 2020, the Regulations, the Rules and permissions granted by the Authority. The amendments also add eligibility for Gerdau, entities affiliated with the transportation sector, affiliated entities in those sectors, successor entities, and members formerly served by an acquired credit union, and confirm that qualifying corporations include successor entities resulting from a name change, merger or reorganization. Certain membership eligibility language previously approved by the members was inadvertently omitted from subsequent consolidated versions of the By-laws. The proposed amendment restores and clarifies that language to confirm the Credit Union’s intended bond of association and to align the By-laws with the Credit Union’s historical membership practices. In addition, the amendments add notice requirements for changes to the minimum number of paid membership Shares, clarify provisions relating to withdrawal or closure of membership and member records, update provisions relating to Board meetings, correct minor wording, permit quarterly Board meetings with additional meetings as needed, clarify director remuneration and expenses, revise the Chair of the Board term-limit provision from years to terms, and expand the annual meeting reporting requirement to allow a committee performing equivalent audit committee functions under applicable law to present the audit committee report.
Special Business at the Special Meeting of Members:
- To conduct member voting on the Special Resolution;
- To conduct such further and other business as may properly come before the meeting or any adjournments thereof.
DATED the 1st day of October 2026.
BY ORDER OF THE BOARD
Corporate Secretary
Notes:
- The resolution to be considered is a special resolution. The special resolution requires the approval of at least two-thirds of the members of the Credit Union casting votes at the meeting.
- Only members in good standing of the Credit Union (other than a member under the age of 18 years) according to its records as of the close of business on the 8th day of December 2026 (the “Record Date”) shall be entitled to vote on the Special Resolution.
- Pursuant to a resolution of the Board of Directors, voting on the Special Resolution will be conducted digitally at the meeting. Mail-in votes will not be accepted.
Please advise us of your intention to attend.
