Canterbury Surrey Hills Community Finance Ltd

Annual Reports

Corporate Governance

The Company adopted the following governance strategies, policies and procedures to ensure it complies with the law, including the Corporations Act 2001 and the NSX Listing Rules.

 

Board Governance Framework

The Board Governance Framework identifies and documents the roles and obligations of directors. The framework promotes ethical, considered and independent judgment of the matters before the Board, set out as a code of conduct. It highlights the statutory obligations on directors generally, and also sets out the expectations for directors in terms of time dedicated to Company affairs.

 

Monthly secretary reports

The Company Secretary reports to the Board each month about the various compliance obligations, and notes any outstanding matters. The Company Secretary manages all NSX and ASIC reporting requirements, and monitors compliance with the franchise agreement and Company constitution.

Compliance calendar

The Compliance calendar defines and lists the Company’s compliance requirements, and is reviewed by the Audit and Governance Committee annually. The Secretary reports individual items to the Board each month.

Share trading policy

Directors and Officers cannot trade in the Company’s shares except during two periods after disclosing the Company’s accounts, and provided they do not possess ‘inside information’.

Privacy policy
The privacy policy considers the privacy of shareholders, community groups and other stakeholders.

Company structure

The Company executive consists of our Directors, Company Secretary, Treasurer and Senior Manager. Directors are also involved in many practical roles, such as marketing and risk management.

The Board Governance Framework lists responsibilities that remain with the Board and those delegated to committees or officers, which are listed in the delegations register. This register identifies the officer with delegated authority and any limits that apply to that authority.

Board performance review

The Board Governance Framework identifies the processes for reviewing the Board’s and other officers’ performance:

  • The Audit and Governance Committee reviews the Board when directed by the Chairman. An external body may conduct this review.
  • The Chairman and the chair of the Audit and Governance Committee review the performance of the committees annually.
  • The Chairman reviews each director’s performance annually.

 

Role of the Chairman

The Chairman is responsible for a range of roles that deal with leading the Board and the Company. The Chairman’s principal role is to facilitate effective discussion and decision making at Board meetings.

The Chairman must be an independent non-executive director.

Role of the Treasurer

The Treasurer is responsible for ensuring accurate, legally compliant company accounts are maintained.

 

Role of the Company Secretary

The Company Secretary is responsible for providing high level expertise and advice on the governance structures and procedures adopted by the Company.

 

Role of the Senior Manager
The Senior Manager is responsible for banking operations. It links the Board to Bendigo Bank and its systems and procedures.

 

Board appointments

Shareholders elect directors for a maximum of three years, with retirements on a rotating basis. The Chairman canvasses each director’s plans to remain on the Board each year. The Board Governance Framework considers the ongoing succession planning for the Board’s composition. The Board has a skills matrix to identify the various skills and experience of its current members and to identify the skills to be recruited in the future. There is no standing Nominations Committee, but the Board appoints a committee when considering appointing a new director.

All new directors must satisfy a comprehensive due diligence process that meets the requirements of the Company’s and Bendigo Bank’s risk management systems. There is also an induction process for new directors, so they can learn as much about the Company and contribute to the Board’s functions as soon as possible.

The Board does not have a formal diversity policy because of the Company’s small size and the small geographic area it serves. The Board aspires to a greater gender balance, but is mindful that service on the Board is not remunerated on commercial terms and the limitations this creates.

Communication procedures

The Company aims to provide timely and relevant information to shareholders throughout the year. The Company releases newsletters (both electronic and hard copy) throughout the year, which are sent directly to shareholders. The Company also writes to shareholders directly about important matters.

The Company discloses information as necessary to comply with the continuous disclosure requirements of the Corporations Act 2001. The disclosures are published on the NSX website at http://www.nsxa.com.au/summary/CSH

Risk management

The Company has a formal Risk Management Policy and tools to identify and record risks and is monitored by the Audit and Governance Committee.

Bendigo Bank, as the franchisor to the Company provides each branch with an internal audit system for operational and lending risks. It reports the results of these audit visits to the Board and the Senior Manager. The Audit and Governance Committee monitors these reports and reviews any recommended changes.

 

Conflicts of interest

The Company maintains a Conflicts of Interest register to record each director’s ongoing material personal interests. The Company Secretary manages the register and reports to the Board every three months. Further, every Board and committee meeting has a scheduled item calling for participants to declare any actual or potential conflicts of interests with the scheduled agenda items.

The Company has a policy for managing actual and potential conflicts of interest. Conflicted directors must be absent from discussions on the conflicted issue. The policy also defines the process for obtaining products or services from a director, including ensuring the transaction is on arms length terms.

Political donations

The terms of reference for the Community Investment and Marketing Committee prohibit it from considering donations, grants or sponsorship for political or religious purposes, except in limited circumstances (such as fetes or events for the purposes of tolerance and understanding).

Share Registry

Who looks after the share registry?

BoardRoom Pty Limited manage and maintain the shareholders register on the Company’s behalf:

Boardroom Pty Limited

Level 12, 225 George Street

Sydney NSW 2000

 

Telephone:      +61 2 9290 9600

Fax:                 +61 2 9279 0664

Email:              enquiries@boardroomlimited.com.au

Web:                www.boardroomlimited.com.au

 

How do I buy or sell shares?
You can buy and sell shares listed on the stock exchange through an NSX broker. You can find a list of brokers here. You must have all your share certificates to sell shares. The share registry can tell you what certificates you should have.

If a shareholder passes away, the share registry has forms to transfer the shares.

The share registry also has forms for making an off-market transfer.

 

What do I do if I lose my certificates?
You can complete forms from the share registry to replace lost or stolen certificates.

Can the Company buy my shares back from me?
No, the Company can only buy shares if shareholders approve a defined Share Buy-back Scheme. There is currently a share Buy-back scheme in place. See information below.

 

NSX Announcements

Share Buy-Back Program

Latest Community Projects

Redbacks on their way to earning $25,000

]Ashburton Community Bank® Manager, Kathy Koulouris and Senior Manager, Nick Coker recently launched a Home Loans Campaign at the Ashy Redbacks.
The club will be rewarded each time a member or supporter moves their home loan to the Ashburton Community Bank®. Denise Garrett (pictured) is the first Ashy Redback member to do this earning $1,000 for the club. If nine other club members do the same the club will earn $25,000. We are proud supporters of the Ashy Redbacks and wish them every success for the 2017 season.

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Community Cup Winners

The inaugural Women’s team from the Hawthorn Amateur Football club were recent victors of the Community Bank® Cup defeating Canterbury. The game was played in stunning Melbourne sunshine and was a great celebration for the club and their support of women’s football.  Surrey Hills Community Bank® Branch Manager, Maggie Stamoulis presented the cup to team Captain Sarah. We wish the team every success for the remainder of the season.

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AbiliTEA for Autism awareness

Learning for Life recently launched a program Autism AbiliTEA to build awareness about autism and raise funds to provide life-changing intensive early intervention programs to children with ASD from families in financial need.  Adam Osmani and Madeleine Smith from the Balwyn Community Bank® Branch attended the event held in Balwyn.

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Celebrating a summer of Cricket at North Balwyn.

Staff from the Balwyn Community Bank® recently attended the North Balwyn Cricket Club end of season presentation night. Players, families and friends attended and the club sponsors were recognised. The Balwyn Community Bank® has been a long term supporter of the North Balwyn Cricket Club. We have provided more than $20,000 to the club in sponsorship.

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Supporting local Children and families

Kathy Koulouris, Manager of the Ashburton Community Bank® recently presented a cheque to The Edge Community Fund in support of the Annual Easter Raffle. The raffle raised $4,500 which will provide support to at least 15 local children and their families. It will assist these children attend camps, sporting activities and other opportunities they wouldn’t normally be able to participate in. The Community Bank® is a proud supporter of this important organisation.

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Piggy out and about at the Roberts McCubbin Primary School Fair.

The Surrey Hills Community Bank® Branch Manager, Maggie Stamoulis was joined by staff Jo May and Kamna Madan at the Roberts McCubbin Primary School Family Fair. Piggy made a special appearance and school and local families enjoyed the festivities on a perfect autumn day. The school has formed a new banking relationship with the Surrey Hills branch and we were pleased to be a gold sponsor of the Fair. We are looking forward to building a strong and valuable working relationship with the school.

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Women's team up and running

Director, Dick Menting and Senior Manager, Nick Coker recently attended the Old Carey Grammarians first game of the season taking on rivals Old Scotch. Old Scotch were victorious on the day.
Old Carey launched their women’s team who are all set for an exciting and historic first season.  The Balwyn Community Bank® branch has a long standing relationship with Old Carey and we wish them well for a great season ahead.

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Ashburton Village Festival- a celebration of community

The Ashburton Community Bank® were the proud Major Sponsor of the Ashburton Village Twilight Festival. An estimated 12,000 people enjoyed the summer sunshine and the great variety of activities on offer. Piggy was busy entertaining festival goers and enjoying time on the Ashburton Community Bank® stage. The Festival provided a great opportunity for the community to enjoy the vibrant Ashburton Village and wander down the normally busy
High st.

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Keeping score at Surrey Park

Maggie Stamoulis, Manager of the Surrey Hills Community Bank® branch recently attended the 2017 season launch at Surrey Park Sporting Clubs. Maggie is pictured with Rohan Sutherland from the Junior Football Club and Bernard Tanner representing the senior players.  The Community Bank® has provided funding to support the installation of a new electronic scoreboard at the club. We have a strong relationship with this club and wish them all the best for a successful year.

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A big welcome to Roberts McCubbin Primary School

The Surrey Hills Community Bank® branch is pleased to have established a relationship with Roberts McCubbin Primary School in Box Hill South. Branch Manager, Maggie Stamoulis recently presented school Principal Marg Pickburn and Fair coordinator Britta with a cheque for the school’s upcoming Family Fun Fair. The Surrey Hills Community Bank® Branch is looking forward to the Fair and to building a great working relationship with the school.

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