​Tandia’s first webcast AGM a safe success

April 9, 2020 (Burlington ON) 

Tandia’s 6th Annual General Meeting took place as scheduled on Tuesday April 7, offering members the opportunity to hear senior leaders present Tandia’s results for 2019.  Originally planned as a traditional gathering at the Burlington Convention Centre, in response to the unfolding COVID-19 pandemic the format of the AGM was transitioned to an exclusively online webcast event. For the first time in the Credit Union’s long history members and presenters were all able to participate in this annual event virtually from the comfort and safety of their homes.

The evening’s presentation commenced with some words from the Board Chair Wayne Joudrie. He reminded the audience of Tandia’s core values - Respect, Integrity and Innovation - and he related each of these values to the challenges that the current COVID-19 pandemic has presented.  He remarked, “We continue
​to find ways of serving our members respectfully and we remain committed to supporting members that have been impacted directly by COVID-19 and just a few weeks earlier, educators who were losing income due to rotating job actions.   We will continue to help ensure your financial welfare and as evidenced by this webcast we are always looking at new and improved ways of providing service.” He concluded his remarks assuring attendees that Tandia is committed to ensuring the safety of its employees and members while continuing to honour Tandia’s obligations as a deemed essential service.  

Up next was Tandia’s President and Chief Executive Officer Richard Davies. He began his remarks by acknowledging the challenges being faced in the world economy, in Canada and in Tandia’s local communities. He reiterated the Board Chair’s remarks, affirming Tandia’s commitment to the health and financial
well-being of members and employees.

A highlight of Mr. Davies’ presentation was the announcement of the upcoming relocation of the Hamilton James Street Branch to 288 Barton Street West at Locke Street North. The area of the new branch will see significant future economic development by the city of Hamilton and real estate developers over the next 5-10 years. The branch relocation is slated to happen this summer and more information will be shared with members well in advance of the official opening date.          

Mr. Davies concluded his remarks with sincere thanks to Tandia’s employees for their contributions to the achievements of 2019 and their outstanding dedication and professionalism to ensure ongoing excellent service for our members.

Sandy Alward, Senior Vice President of Finance and Administration was introduced and presented the 2019 financial performance highlights. Most notably Mrs. Alward expressed, “Tandia’s investment portfolio increased by $88 million or 114% over 2018 as we had excess funds available.  Members can have peace of mind knowing that our liquidity is very strong during these uncertain times.  If required, we also have access to additional liquidity through new Government programs and our unused borrowing facilities, providing us with sufficient resources to meet member needs.”

This year there were three vacancies for the Board of Directors. As there were no new nominations for Directors, the three incumbents were acclaimed. Tandia welcomed back to the Board for a new three-year term Directors: Jackie Aird, Nancy DiGregorio and Sharon O’Driscoll. 

Results of voting which took place online in advance of the Annual Meeting from March 9 - 20 were announced. The Special Resolution and By-law Amendment both required two thirds of the votes cast to be in favour. The requirement was met and each of these was passed:

  • Special Resolution – Head Office change to 3455 North Service Road, Burlington
  • By-Law Amendment – Board of Director Numbers

Members are encouraged to view or download our 2019 Annual Report from our website or request a mailed copy. The next Annual General Meeting will take place on Tuesday April 6, 2021.

For more information, please contact:
Jane Morreale, Manager, Communications
1.800.598.2891 ext. 1174 jane.morreale@tandia.com

Tandia Financial Credit Union is a cooperative financial institution with a vision to be the financial services provider of choice in its communities and a continued commitment to serve education and government employees in Ontario. Tandia partners alongside its members each and every day to help them build healthy and prosperous futures. With a branch network that extends from Brant County through Greater Hamilton, Halton and the GTA, Tandia serves 29,000 members and administers over $1.2 billion in assets.