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2009 AGM

Please see below for an overview of the Annual General Meeting held on Monday 27 April 2009

Voting Results Annual General Meeting 2009


Resolution Number of votes for * Number of votes against Number of votes withheld % in favour
To receive the Annual Report and Accounts 10130
(6913)		 186 61 98.20
To approve the Directors' Remuneration Report 9065
(6922)		 1114 199 89.06
Re-appointment of KPMG Audit Plc 9876
(6926)		 397 104 96.14
Election of Alan Thomas Ferguson Hunter as a director 9635
(6920)		 550 193 94.60
Re-election of Christopher Stuart Fairclough as a director 9583
(6920)		 628 166 93.85
Re-election of Avril Casson Willis as a director 9576
(6904)		 649 153 93.65

* (including discretionary votes given to the Chairman - number in brackets)

Download Member Review & Summary Financial Statement 2008 PDF

Furness Building Society Annual General Meeting Monday 27 April 2009

Monday evening saw the Society's 143rd Annual General Meeting take place at Abbey House Hotel, Barrow in Furness. The meeting was well attended by 91 members, staff, directors and professional contacts, which was a significant increase on last year.

After being welcomed by Deputy Chief Executive, Philip Shipman - Mrs. Avril Willis, the Chairman of the Board took the stand to address the audience and talked about the quite extraordinary events that took place in the financial markets, how the credit crunch which started in 2007 really began to bite and how many financial institutions disappeared, merged, or were partly or fully nationalised. The Chairman brought her speech to a close by saying "Finally, my key message to you (the members) is that the Furness has remained strong through all this financial turmoil. We remain a financially sound mutual Building Society with capital levels well in excess of those demanded by the FSA, our regulator. The outlook for 2009 and into 2010 continues to remain challenging, however we intend to ensure the Society continues to provide security for its members during the difficult months ahead."

Finance Director Steve Pryer delivered a very informative presentation regarding the financial strength of the Society, clearly and effectively explaining a number of key issues relating to the Society's balance sheet.

Rob Cairns, Chief Executive, took to the floor to address the audience in his usual open, honest and sociable manner and invited questions from the members. There were only a limited amount of questions which was a sign that the Chief Executive had delivered a very informative presentation which seemed to have already answered questions that may otherwise have been put forward - above all that Furness Building Society is Strong, Safe, Solid and Secure.

Before closing the meeting, the Chairman asked if there was any other business and it was a pleasure to have some of our affinity account partners in the audience who took the time out to thank the Society for the invaluable support it gave the many charities and sporting clubs throughout the North West of England through the affinity accounts the Society offers, these included Ray Short, British Heart Foundation, David Hill, a leading fundraiser with Save our Squirrels and Anne Sweeney from the Rosemere Cancer Foundation.

To bring the evening to an end, Philip Shipman had great pleasure in introducing Annie Mawson and her Celtic harp. Annie Mawson's Sunbeams Music Trust provides support, through the power of music, to special needs groups who suffer with physical disabilities, severe learning difficulties, behavioural and/or psychological problems, rare chromosome deficiencies and in some cases life threatening or terminal illnesses. Due to the severity of the problems they are unable to enter into all/most mainstream activities which are open to individuals with fewer disabilities. This group includes children with Autism who are unable, or find it profoundly difficult, to communicate or build relationships beyond the parental influence. Annie gave a thoroughly enjoyable performance which was very well received.

The evening ended with some light refreshments and a chance for members to get to know their Board of Directors a little better and to ask any further questions they may have had.