Banking - Changing bank accounts
As part of registration with the C&S Program, consistent with USYD policies, USU clubs are required to hold bank accounts in their club’s name.
“All property of the Society shall be vested in the Executive and shall be dealt with in such manner as directed by the Society in an Ordinary Meeting.”
- only elected executives of the club can be signatories
- Large changes to a soceity's financial activity must be endorsed at an OM, GM, or AGM. Changing who is an account signatory, the method of operation of an existing account, or opening a new bank account requires a motion to be passed at a formal meeting.
“All payments of the Society shall be by cheque or electronic bank transfer, authorised by at least two members of the Executive, one of whom must be the Treasurer.”
- USU clubs' bank accounts' methods of operation must require at least two executive signatories to approve transactions out of the account.
How motions related to bank accounts should be prepared
- Prepare to hold an Ordinary Meeting (or General Meeting).
- An Ordinary Meeting requires at least 3 days’ notice to the USU, including submitting a complete Agenda. We recommend providing it earlier, so there can be time for amendments before the minimum required time to publish to your members (also 3 days).
- The motion should be includes as a motion on notice and specified the agenda.
- Pick a date and time to ensure you’ll meet quorum. Organising OMs to fall alongside other events can be a good strategy,
- Hold the meeting and put the motion forward with a vote for approval by members. Like all motions, this should be moved and seconded by an Ordinary Member in attendance.
- Submit the minutes and other post-meeting documentation to the Clubs Team through MyUSU.
- After the meeting is approved, the USU will issue a signed letter endorsing the motion from the meeting
If you have any further questions, please feel free to contact the Clubs Office.
This article was last updated on September 11, 2026