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April Update from our Chairman

1 Apr 2016

This programme is delivered through a partnership between Police and Families Credit Union and NZ Police. We have started the programme with three pilot courses based in Counties Manukau, Police Infringement Bureau and Christchurch. The courses are being delivered by facilitators from the Commission for Financial Capability who you'll know through their "Sorted" website. Families are encouraged to participate in the course with an open day scheduled. Have a look at www.policecu.org.nz for further information.

There are two other aspects of the Board's governance that I want to share with you. Our equity now stands at $20m. This amount provides the Board and our Regulators with the comfort of knowing that even the most difficult stress tests can be met when considering the viability of your Credit Union. It also causes the Board to think about how best to use that equity to benefit you as members. The three year programme of financial capability courses has resulted from that thinking.

Lastly, Board members are very proud of our involvement in the governance of your Credit Union, by the members for the members. It has stood us well for the last 43 years and will continue to do so into the future. Later this year 3 Director and 2 Trustee positions will be open for election. Please note that the Trustee positions must, in accordance with our rules, be sworn police officers. If you are considering contributing to the governance of the Police and Families Credit Union please make contact with me at richard.middleton@policecu.org.nz to arrange a discussion. Your Board is very conscious that we need diversity on the Board to support our primary aim of good governance.

Great governance and astute management ensure that your Credit Union is one that you continue to use and support. The Board thanks you for your trust and confidence and looks forward to enhancing your financial wellbeing.

Richard Middleton

Chairman of the Board