Moderator: CIC officers
I think you make some very valid and interesting points that I agree with. If we are looking at how to keep the club functioning from a governance perspective I think due to the way we operate (i.e online with occasional votes) that the club could easily cope without the Secretary function (although we might need a Secretary in at least name only to comply with our rules - would need to check). I would be happy to step up and take on the Treasurer role if it meant the difference between the club folding or not, but not precious if someone else would like to do this.garindan wrote: ↑Wed Feb 24 2021 8:12pmSo I have thought about this and have some things to mention, below.
Firstly, as I set out previously, I think we should be sitting tight on these investments until the end of the first quarter of this year at the very earliest. There are multiple reasons for this and I think everyone should already be aware of them. Now there is potentially light at the end of the tunnel with Covid, it is even more important, in my eyes, that we don't simply sell everything and ruin the potential we have been developing over the past few years, with the investments we have made.
Secondly, I also think it would be a shame if the club folded. I don't think the ambition of the club has been met by any stretch of the imagination, when it comes to number of members intially envisioned. However, having said that, is that the fault of the club or that of the small the catchment from which it can attract members? I firmly believe it is the latter. Total membership over the years probably amounted to a fair and appropriate percentage of forum users. It would be unrealistic to expect a particularly high percentage of users to want to join the club and it is impossible to expand from a base number when imutual membership has flatlined, or more probably declined, over the duration the club has been active. In terms of what investment clubs are meant to achieve in practice it has been very in keeping with learning objectives.
Thirdly, whilst we have seen systems put in place for the investment club within imutual the key component is the logging of money invested by members and reports generated so calculations can be made. These are already active and shouldn't need further development. Ideas and recommendations of how these reports could have been changed to better reflect the needs of the club to monitor and attract new members have never been implemented, so the investment in technology is only really administrative for the treasurer and basic stats for the members. As a small club this isn't really an issue.
Fourthly, if imutual bins the club one of the only "interesting" elements to differentiate imutual from others and potential growth areas will have been cast aside. If the plan is basically to shut imutual down in the near term and not look for any future growth then this is not an issue.
Fifthly, recuiting officers from the membership is very difficult. Losing a secretary is not necessarily an issue. However, we do need a chairman and a treasurer. It wouldn't be right for one person to do both jobs for multiple reasons, including transparency. So even if I could do both roles it wouldn't be right. Therefore, we do need another volunteer to help steer the ship. Richard has said he would help pass over to a new treasurer, so as long as there is someone who can do that role the club is good.
Sixthly, and finally, there has been talk in the past of whether money outside of cashback could be invested in the club. I have always been against it to be honest. However, if it would be seen as helpful to get the club more active then I could potentially be talked round. I'd need to understand how that would make any difference to things.
So my overall view is I don't want the club to end, at least not at this point in time as I currently feel it is inappropriate. I don't have a problem with reviewing this at the midpoint of this year. If we end now I feel like the past few years of effort, persistence and patience - something we have matured into having - will have been a total waste of everybody's time and undervalues our investments.
If however there are people wanting to leave the club and don't share that view then, as I mentioned on a thread a few months ago, please speak up so it doesn't come as a sudden surprise. I am only aware of Richard wanting to withdraw as it currently stands, which is obviously unfortunate for many reasons.
Great, that's fine by me. We should have a formal vote, and then sort out your bank / dealing account access
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