~Welcome~

2013Annual General Meeting

OMISTA Credit Union 75th Anniversary

• $75 cash give-aways• In-branch festivities• Online contests• and more!

Our national anthem and moment of silence.

2012-2013 Board of Directors

Dennis WilliamsMemorial

Dedication

In memory of Dennis WilliamsYork Credit Union General Manager 1982-2010

In grateful appreciation of his dedication and love for the Credit Union System.

Presented in his memory April 16, 2013.

Dennis Williams Memorial Bursary

• $500 awarded to graduate of a Fredericton or Oromocto area high school

• Attending full-time post-secondary education

Board of Director Nominees

The following 3 candidates are running for the 2 available Director positions in Fredericton-

Oromocto. Please vote for ONLY TWO candidates to fill the 2 available positions.

Election of Board of Directors XGeorge ButtersSherry CyrScott MacAfee

Election of Board of Directors XPatricia DuffieldClaire FanningAmanda HacheyCharles LawsonMargaret Mayes

There are a total of 5 OMISTA Credit Union Board of Director

positions up for renewal. All members are invited to cast a vote

for each of the 5 positions.

The following 5 candidates are running for the 3 available Director positions in Moncton.

Please vote for ONLY THREE candidates to fill the 3 available positions.

Message from the President

• Welcome• Change in 2012• 2012 Financial environment

Message from the President

• Strategic governance

• CUDA training

Message from the President

• 75 Years in business

• CN (Shoppes) Credit Union, Saint Dunstan's Credit Union in 1953

Message from the President

• Corporate Social Responsibility

Transportation Discovery Centre

Message from the President

• Corporate Social Responsibility

OMISTA Credit UnionReading Is Wild

with the Moncton Wildcats

Message from the President

• Corporate Social Responsibility

Fredericton Blood Donor Clinics

Message from the President

• Board and management representation within Canadian Credit Union System

• Atlantic Board Chairs Association• Credit Union Act Review Committee• Atlantic Central Board• Roles & Relationship Committee• Atlantic CEO Group• Credit Union Manager’s Association• League Data Board• League Savings & Mortgage Board

Message from the President

• Awards

Message from the President

• Strategic Planning with Atlantic Central– Identification of five key

priorities

• 2013 positive change and responsible growth

Management Reportfrom the CEO

• 2012 Annual General Meeting

Management Report from the CEO

• Equity requirements– 10.5% equity by the end of 2019– Basel III– OSFI (Office of Superintendent of Financial Institutions)

Management Report from the CEO

• Branch adjustments and locations

Management Report from the CEO

• Financial services industry change

• Technology

• Mobile

Management Report from the CEO

• 2012 Service Anniversaries

Fredericton

Mehmet Yunli - 5 years

In Moncton

Ginny Colette - 5 years Marley Carson - 5 yearsValerie Miller - 15 years Kathy Doiron-Corriveau - 15 yearsBrenda Upham - 25 years

Management Report from the CEO

Farewell to Susan Welling, Accounting Officer

Over 34 years service

Management Report from the CEO

• Employee development

Management Report from the CEO

• Employee development

Cathy Hodder

Bachelor of Artsin Organizational Management

Fellowship to the Credit Union Institute of Canada

Management Report from the CEO

OMISTA 2013 - 2015 Strategic Plan

Financial Success

Customer Value

Internal Business Processes

Learning & Growth

Corporate Social Responsibility

Management Report from the CEO

• Roles & Relationship Committee

• New Atlantic Central CEO

Management Report from the CEO

Wealth Managementat OMISTA

– ACHIEVE Financial

JP Gallant, Andrea Gauthier, Sandy Cole, Ozzie MacKay

Management Report from the CEO

Wealth Management at OMISTA– Credential Financial Strategies

Dave Gorman Paula Allison

Management Report from the CEO

• Positioned for responsible growth

• Focused on You

Audit Committee Report

Sound and effective corporate governance is a priority for OMISTA Credit Union.

The Credit Union Board of Directors remains an independent entity with the ability to effectively supervise management’s operation of the Credit Union.

Audit Committee Report

• It is the responsibility of the Audit Committee to meet periodically with the Credit Union management and external auditors to review matters relating to:– the quality of financial reporting– internal accounting controls, including the nature, extent and results of the

audits– recommend the engagement of external auditors– review and report on the Credit Union’s financial statements to the Board

of Directors

Audit Committee Report

• Guided by the Audit Committee Charter and other specific requirements the Audit Committee, consisting of seven directors, takes very seriously its authority to:Conduct and authorize investigations within its scope of responsibility

– Retain outside independent counsel, accountants, auditors and others as it determines necessary to carry out its duties

– Seek any information it requires from employees and external parties and meet as necessary

– Meet with any executive, the Risk Management Agency (RMA), the external auditors, and/or regulators without management being included if the committee so desires or at the request of any of these parties

Audit Committee Report

The Committee met the Credit Union by-law requirements by holding regular meetings to ensure that an appropriate level of due diligence has been directed towards effective risk management and control.

• The Committee obtained reasonable assurance that:– Financial, operational and regulatory objectives of the Credit Union have been

achieved– Governance and accountability responsibilities of Board and management have been

met– There is oversight of risk management, internal control, financial reporting and

compliance with regulatory matters

Audit Committee Report

• Together with management, the Audit Committee recommended Stevenson & Partners LLP to perform the annual external audit as required by law.

– Met with the external auditors to receive the audit plan and discuss in detail the areas to be covered

– Received full cooperation and support from management– After a review of the audited financial statements for the twelve month fiscal period

ended December 31, 2012 the committee recommended their acceptance and approval by the Board of Directors

Review of Financial Operations

• Management’s Responsibility for Financial Information

• Audited Financial Statements December 31, 2012

Review of Financial Operations

• Statement of Financial Position– See page 3 of Financial Statement package

Review of Financial Operations

Asset increase

5.80%

Review of Financial Operations

Loan increase

1.10%

Review of Financial Operations

Depositincrease

6.25%

Review of Financial Operations

• Transition to IFRS: First-Time Adoption– Three main areas of impact

• Loans to members• Property and equipment• Retained earnings

Review of Financial Operations

• Statement of Changes in Equity– See page 4 of Financial Statement package

Review of Financial Operations

Equity Building

Basel III

Review of Financial Operations

• Statement of Comprehensive Income– See page 5 of Financial Statement package

Review of Financial Operations

• Statement of Cash Flows– See page 6 of Financial Statement package

Recommendations of the Board of Directors

A. Appointment of Representatives to Atlantic Central

Recommendations of the Board of Directors

B. By‐Law AmendmentsARTICLE 1NAME

1. The name of the Credit Union shall be OMISTA Omista Credit Union Limited and shall hereinafter be called "the Credit Union".

Recommendations of the Board of Directors

B. By‐Law AmendmentsARTICLE 3MEETINGS

2. The rules of order for all meetings of members anddirectors shall be based upon the book "Call To Order" written byHerb Perry Robert’s Rules of Order.

Recommendations of the Board of Directors

B. By‐Law AmendmentsARTICLE 3MEETINGS - Voting

10.(1) If a body corporate or association is a member of the Credit Union,the Credit Union shall recognize an individual authorized by a resolution ofthe directors or governing body of the body corporate or association torepresent it at meetings of members of the Credit Union. ADDED: A copyof the resolution is to be presented to the Credit Union 10 businessdays before any Annual General Meeting or Special Meeting.

Recommendations of the Board of Directors

B. By‐Law AmendmentsARTICLE 3MEETINGS – Methods of Voting

14. (3) When a ballot vote is demanded, the ChairpersonPresident shall appoint scrutineers for the remote voting.

Recommendations of the Board of Directors

B. By‐Law AmendmentsARTICLE 4NOMINATION AND ELECTION OF DIRECTORS – Nomination Committee

2. (1) (a) The President may appoint, at least 30 days prior to the annual orspecial meeting of members where elections are to take place, anomination committee made up of at least three members and when adirector position is open for election from the branches situated inFredericton and Oromocto then at least one of the committee members willbe a member from one of the branches in Fredericton or Oromocto and atleast two of the committee members shall be members from the GreaterMoncton area;. ADDED: Directors seeking re-election to the Board ofDirectors will be excluded from serving on the Committee.

Recommendations of the Board of Directors

B. By‐Law AmendmentsARTICLE 4NOMINATION AND ELECTION OF DIRECTORS – Nomination Committee

2. (1) (c) The committee will receive the names of membersinterested in participating on the Board of Directors, up to fifteen(15) calendar days before the end of the month preceding theelection and . The committee will confirm whether those interestedpersons are eligible, and shall prior to the annual or special meetingof members advise those interested individuals that are not eligible;

Recommendations of the Board of Directors

B. By‐Law AmendmentsARTICLE 4NOMINATION AND ELECTION OF DIRECTORS – Nomination Committee

2. (2) The nominating committee shall submit their report to themeeting, ADD: but before the report is acted upon, thePresident or Committee Chairperson shall call three times foradditional nominations from the floor, and after a reasonabletime has elapsed, a motion to close nominations shall be inorder.

Recommendations of the Board of Directors

B. By‐Law AmendmentsARTICLE 4NOMINATION AND ELECTION OF DIRECTORS – Nomination Committee

3. The President or Chairman Committee Chairperson shallappoint such scrutineers as are required who shall distribute theballots and collect same, and when the vote is taken shall tally thesame, and provide the results to the President or CommitteeChairperson who shall announce the results of the election.

Recommendations of the Board of Directors

B. By‐Law AmendmentsARTICLE 4NOMINATION AND ELECTION OF DIRECTORS – Nomination Committee

4. Where there are two or more candidates for any positionvacancy on the board, a ballot with names of candidatesalphabetically shall be taken; however, if only one positionvacancy is open and only one person is nominated, the Presidentor Committee Chairperson shall declare such member candidateelected by acclamation.

Recommendations of the Board of Directors

B. By‐Law AmendmentsARTICLE 5DIRECTORS AND OFFICERS

1. (1) The board of directors in 2010 shall consist of 14 directors; 12 ofwhom shall have an account at one of the several branches situated inthe Greater Moncton area and 2 of whom shall have an account at one ofthe branches situated in either Fredericton or Oromocto.

1. (1.1)The board of directors in 2011 shall consist of 13 directors; 11 ofwhom shall have an account at one of the several branches situated inthe Greater Moncton area and 2 of whom shall have an account at one ofthe branches situated in either Fredericton or Oromocto.

Recommendations of the Board of Directors

B. By‐Law AmendmentsARTICLE 5DIRECTORS AND OFFICERS

• 1. (1.2 1) The board of directors in 2012 and following years shallconsist of 12 directors; 10 of whom shall have an account at one ofthe several branches situated in the Greater Moncton area andreside in the area and 2 of whom shall have an account at one ofthe branches situated in either Fredericton or Oromocto areas andreside within those areas.

Recommendations of the Board of Directors

B. By‐Law AmendmentsARTICLE 5DIRECTORS AND OFFICERS – Election of Officers

10. (4) The director receiving the highest number of votes will be elected,with a tie vote being resolved by a drawing of straws ADDED: additionalvoting until a successful majority vote.

Recommendations of the Board of Directors

C. Appointment of External Auditors

D. Approval of Optional Distributions

E. Approval of Preferred Share Dividends

Election Results

2013-2014Board of Directors

• New Business

Thank you for attending your

Annual General Meeting