AGM

2021 Conexus Annual General Meeting – Highlight Reel

On April 13, 2021, our board of directors, employees and members came together online for our second fully virtual Annual General Meeting (AGM). You can watch the full recording of the AGM.



Presenters:

  • Joel Mowchenko, Chair of the Board
  • Eric Dillon, CEO
  • Annette Revet, Chief Transformation Officer and Corporate Secretary
Also in attendance was our Parliamentarian, Stuart Wicijowski, our external auditor, Carrie Carson (Deloitte), and 102 members and guests.

2021 Highlights

COVID-19:

2020 will forever be shadowed by the COVID-19 pandemic and, as banking was designated a critical service to society, Conexus made several changes to the delivery of banking services to members. These included:

  • New protocols at Conexus with a focus on digital first banking  
  • Increased Member Contact Centre capacity where wait times were less than 1 minute
  • e-sign integration, cleaning protocols, financial support programs, and much more
  • Monitoring all financial relief programs provided by the federal and provincial governments
  • Conexus was one of the first credit unions to administer CEBA
  • Supported over 3,000 business members since March, 2020
  • Provided over $91.2 Million in support to these businesses
  • Built a Business Government Funding Centre of Excellence
  • Dedicated team of 8 advisors to answer all questions about all programs available, how to apply, documentation needed, etc.
As the COVID-19 pandemic continues, Conexus is committed to being here for our members with the same, unwavering support.

Contribution to Community:

In 2020, Conexus invested over $1.5 million to support non-profit and charitable organizations across Saskatchewan. Below is a video showcasing a few of our community partners, the important work they do and why we are so passionate about working alongside them to support our province through a challenging time.

Conexus Building Communities Project:

This year in lieu of a special guest speaker, we took the opportunity to highlight the partnership with the University of Regina, and the completion of the Conexus Building Communities project with the culmination of the new head office building on College Avenue in Regina. This project is achieving the outcomes we aspired to accomplish such as our support to help save College Avenue’s historic buildings including the soon to be opening of Darke Hall, growth of the tech ecosystem through our business incubator, Cultivator, and Conexus Venture Capital Inc., and the evolution of how team Conexus works better to respond to how banking is evolving.

Cultivator:

Over the past 2 years, Cultivator has seen tremendous growth with highlights from the past year including:

  • Incubated and provided resources, mentorship and space to over 50 startups
  • Great growth by our startups:  
    • 176 jobs created
    • $8.4 million revenue generated
    • $17.8 million public funding obtained
    • $13.4 million private capital raised.
  • Hosted virtual ecosystem events including 24 Hour Startup, CultivateSK and Sask Startup Summit
  • Launched several in-residence program partnerships

Conexus Venture Capital (CVC) Inc.:

In 2020, CVC’s first fund, Conexus Venture Capital Fund #1, saw over $11 million raised and invested in 5 companies. More than just funding, those involved in CVC Inc. provide guidance on operations, growth and more to many of the portfolio company boards. In 2021, there is a plan to launch a new fund focused on Canadian agtech, food-tech and agri-business innovation.

CEBA & Kindness Capital:

As a financial institution administering CEBA, Conexus received administration revenue of $210,000. Rather than adding it to our books, we decided to reinvest it back into Saskatchewan communities by creating the Conexus Kindness Capital Fund. 42 recipients from across the province were awarded $5,000 each for the amazing ways that they gave back to their community during the pandemic.


Financial Results:

Even during this difficult year Conexus was able to continue to add additional capital to ensure we have the strength to withstand any additional difficult conditions in the future, while also continuing to deliver on our purpose and have the resources to continue to invest in the future of Conexus. Some of the 2020 highlights include:

  • Asset growth of 1.86%
  • Risk Weighted Capital of 14.23%
  • Return on Assets at 0.34%
Click here to read the full report on the consolidated statements on our website.

Board of Directors Update:

As announced March 3, Bradyn Parisian, Cindy Fuchs and Joel Mowchenko (re-elected) were elected by acclamation. Bradyn, Cindy and Joel’s terms officially began at the end of the April 13 meeting.
We would like to thank the outgoing directors Karin Ferris and Leah Clement for their dedication and contribution to the Conexus Board. We would also like to recognize Kara Marchand and Sandi Kitts for their 5 years of service to the credit union system by serving on the board.

Conexus is available year-round to answer questions. Click here for the list of ways you can reach us.