Credit Union AGM this weekend

The sixteenth (16th) Annual General Meeting (AGM) of the Guyana Agricultural and General Workers Cooperative Credit Union Society Limited Reg# 2000 will be convened on 6th December, 2009 at Umana Yana, Kingston, Georgetown at 09:00h.

Close to 400 members are expected to attend the meeting many of whom are drawn from Guysuco’s eight sugar estates and other entities at which the Guyana Agricultural and General Workers Union (GAWU) enjoys bargaining rights. In attendance will also be Credit Union members who are not unionized.

At the AGM, members will deliberate on reports from the Committee of Management and the Supervisory Committee of the Society. The reports will reflect on the Society’s work since the last AGM and will cover the period 1st November, 2008 to 30th September, 2009.

Members attending the AGM will approve the percentage of dividend as well as the percentage of interest rebates not greater than six (6) per cent for the former and up to one hundred (100) per cent for the latter. Last year the Credit Union paid out G$7.9M as dividend and G$2.2M as interest rebate.

The Credit Union realized a surplus of G$15.2M for 2008 of which G$ 10.6M will be shared to members as dividends and interest rebate. The remainder would be allocated to the Society’s Statutory Reserve, the Education Fund, the Social and Entertainment Fund and the Audit and Supervision Fund, the proceeds which are paid to the Co-operative Division of the Ministry of Labour, Human Services and Social Security.

An eleven member Committee of Management and a three member Supervisory Committee will be elected before the AGM is concluded.

The GAWU Cooperative Credit Union Society Limited is proud to meet every year to review its work, to share its surplus and to elect new office bearers.