The Guyana Agricultural and General Workers Union Cooperative Credit Union Society Limited, widely recognised as the “GAWU Credit Union,” proudly convened its 29th and 30th Annual General Meetings (AGM) on March 28, 2025, at the Union’s Headquarters located at 59 High Street and Wights Lane, Kingston.
During this essential meeting, we conducted a comprehensive review of our Credit Union operations for 2021 and 2022, following meticulous audits carried out under the supervision of the Cooperatives Department of the Ministry of Labour. In adherence to the Cooperative Act, these audits are crucial for transparency and accountability. We are pleased to announce that both audit reports delivered an unequivocal clean bill of health for our society. Our Treasurer, Seepaul Narine, confidently reported that the audits confirmed that our financial activities adhered to exemplary accounting procedures and were accounted for, underscoring our commitment to maintaining integrity in our financial affairs.
Secretary Sattie Basdeo reflected on our Credit Union’s remarkable progress since the 28th AGM in December 2023. Despite challenges, our society has not only persevered but also thrived. Membership has significantly increased as more individuals recognise the exceptional services we provide. This surge has substantially bolstered our financial holdings, showcasing the growing confidence in our Credit Union. The Society offers a seamless and convenient way for members to save towards achieving their personal objectives. Sattie expressed deep gratitude on behalf of the Committee of Management for the trust our members have placed in us and urged others to join our flourishing community.
The AGM also welcomed the report from our Supervisory Committee, presented by Secretary Kavita Bishun. She proudly shared that her team conducted thorough examinations since the last AGM, confirming that all transactions adhered strictly to our Society’s regulations.
After discussing the reports, our Treasurer moved to adopt the audit reports, which collectively revealed a surplus exceeding eight million dollars ($8,000,000). Following the guidelines established by the Cooperative Society Act, the AGM authorized statutory deductions towards the Statutory Reserve and the Audit and Supervision Fund. After these deductions, a resolution was passed to distribute five million five hundred thousand dollars ($5,500,000) to eligible members through dividends and interest rebates.
Additionally, we elected a robust eleven-person Committee of Management, including Gaietri Baron, Sattie Basdeo, Seepaul Narine, Aslim Singh, Porandatt Narine, Tarmattie Dyal, Harvey Tambron, Gordon Thomas, Julius Nurse, Bickram Singh, and Rikram Shrikishen. A three-member Supervisory Committee composed of Kavita Bishun, Raywattie Persaud, and Sasha Ruhoman was also unanimously elected.
The GAWU Credit Union stands proud of its resilience and growth. Despite facing significant setbacks with the closure of Skeldon, Rose Hall, East Demerara, and Wales Estate between 2016 and 2017, we have emerged even stronger. Our Credit Union is dedicated to helping members save and achieve their personal aspirations, and we take great pride in distributing a substantial portion of our surplus directly to our members.
