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<p>Hi all,</p>
<p><br>
</p>
<p>Just thought I'd dive into a bit more detail about the term
deposits and why we're calling this general meeting.</p>
<p><br>
</p>
<p>UCC maintains savings, largely in term deposits, authorized by a
resolution (<a moz-do-not-send="true"
href="https://www.ucc.asn.au/infobase/minutes/2016/AGM2016_resolution.txt">https://www.ucc.asn.au/infobase/minutes/2016/AGM2016_resolution.txt</a>)
under the club's Investments Policy (<a moz-do-not-send="true"
href="https://www.ucc.asn.au/infobase/policies/appendix.ucc">https://www.ucc.asn.au/infobase/policies/appendix.ucc</a>).
The term deposits currently have an interest rate of 2.90% p.a.,
and are due to mature (end) and roll over on 29 March 2021.</p>
<p><br>
</p>
<p>At current, we have $37,530.41 in the term deposits, plus an
additional $2,064.50 subject to the same restrictions.
Unfortunately, due to record low interest rates, we are not going
to be able to achieve an interest rate on a term deposit that is
acceptable under the current resolution. For example, the current
Westpac term deposit rate is 0.25% to 0.35%.</p>
<p><br>
</p>
<p>We will need to set aside the current resolution, and pass a new
one that ensures both that we aren't locked into low interest
rates for a long time, but also that doesn't subject the club
savings to an excess risk. I believe the club has discussed and
discounted using a managed investment fund before, although the
maths likely stack up quite differently in a world of a 0.1% RBA
cash rate.</p>
<p><br>
</p>
<p>I'd be interested to hear feedback and ideas from members, and of
course hope to see you at the general meeting.<br>
</p>
<p><br>
</p>
<p>Cheers,</p>
<p><br>
</p>
<p>James Arcus<br>
<i>UCC Vice President 2021</i><br>
</p>
<p><br>
</p>
<div class="moz-cite-prefix">On 15/3/21 3:38 pm, Grace Fowler
(23165486) wrote:<br>
</div>
<blockquote type="cite"
cite="mid:ME2PR01MB2434BFB1DE680EF68965CE14B76C9@ME2PR01MB2434.ausprd01.prod.outlook.com">
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font-size: 12pt; color: rgb(0, 0, 0);">
Hey guys,
<div><br>
</div>
<div>This is the official notice that the next UCC General
Meeting is scheduled for 5pm, Thursday 25th of March.</div>
<div><br>
</div>
<div>The meeting is planned to be held in the Guild Council
Meeting Room, unless otherwise stated. If you need help
finding the meeting room, you can go to the UCC clubroom
beforehand and we will all head over together. This being a
General Meeting, the clubroom will be closed while it's
running.</div>
<div><br>
</div>
<div>Please ensure you have completed a membership form and paid
before the meeting if you wish to vote or count towards
quorum.</div>
<div><br>
</div>
<div>If you wish to add any items to the agenda, please send
them to <a class="moz-txt-link-rfc2396E" href="mailto:secretary@ucc.asn.au"><secretary@ucc.asn.au></a> at least four days prior
to the meeting in order for them to be incorporated into the
agenda.</div>
<div><br>
</div>
<div><br>
</div>
<div><br>
</div>
<div>Hope to see you there!</div>
<div><br>
</div>
<div><br>
</div>
<div><br>
</div>
<div>Kind regards, </div>
<div>Grace Fowler</div>
<div>Secretary</div>
<br>
</div>
<br>
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<pre class="moz-quote-pre" wrap="">_______________________________________________
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