The 23rd Annual General Meeting (AGM) of the Guyana Agricultural and General Workers Union Co-operative Credit Union Society Limited was held on (Sunday) August 26, 2018 at the Society’s Registered Office, 59 High Street and Wights Lane, Kingston, Georgetown. The meeting considered, among other things, the Report of the Committee of Management which reviewed the work of the Society since its last AGM in September, 2016.
Members were pleased to learn from the Report that the audit of the financial records of the Credit Union for the financial years ended 2016 advised of surplus of $7,619,527. Attendees also heard the Report of the Auditor on the Society’s financial affairs for year ended 2016 and the report of the Supervisory Committee.
In keeping with the Society’s statutory obligations the sums of $1,523,905 was appropriated to the Statutory Reserve Fund for 2016. Whereas the sum of $761,953 was allocated to the Co-operatives Division of the Ministry of Social Protection representing Audit and Supervision fees for 2016.
By unanimous resolution, the AGM approved the sum of $4,376,050 as dividend and the sum of $935,325 as interest rebate to members for transactions during the years 2016 respectively. Also, the sum of $22,294 was allocated to the Society’s Social and Entertainment Fund for the year.
The AGM elected a new Committee of Management to superintend the Society’s operations until the 24th AGM. The Committee comprises Cdes Gaietri Baron, Sattie Basdeo, Seepaul Narine, Julius Nurse, Bhikram Singh, Harvey Tambron, and Aslim Singh. At the first meeting of the Management Committee, within the next two (2) weeks, members of the Committee will elect a Chairman, a Secretary and a Treasurer.
The Supervisory Committee comprising Cdes Kavita Bishun and Hugh Caines was also elected.
