The Guyana Agricultural and General Workers Union Cooperative Credit Union Society Limited, known as the “GAWU Credit Union,” proudly held its 31st Annual General Meeting (AGM) on June 25, 2026, at the Union’s Headquarters located at 59 High Street and Wights Lane, Kingston.
During this important meeting, members conducted a thorough review of the Credit Union’s operations for the year ending December 31, 2023. This review followed detailed audits supervised by the Cooperatives Department of the Ministry of Labour. In accordance with the Cooperative Act, these audits are vital for ensuring transparency and accountability. We are pleased to report that the audit resulted in a clean bill of health for our Society.
The financial records revealed that for the year 2023, the Society achieved a surplus of $9,067,516 before statutory deductions. This is a significant accomplishment that reflects growing confidence in our Credit Union. Following statutory deductions of $1,813,503 to the Statutory Reserve Fund and $906,752 to the Audit and Supervision Fund, the AGM approved a series of distributions for eligible members.
In a landmark decision, the AGM authorized a dividend payment of $4,355,478, which represents 1.5% of the Society’s ordinary shares totaling $290,365,249. Additionally, members approved an interest rebate of $1,767,828, which constitutes 21% of each member’s interest charges for 2023. The AGM also authorized a contribution of $223,956 to the Social and Entertainment Fund. In total, these distributions amount to approximately $6.1 million returned directly to members.
The AGM received a report from the Supervisory Committee confirming that all transactions complied with the Society’s regulations. Members noted with appreciation that, following representations by the Credit Union, the Cooperatives Department reconsidered its position and adjusted the Audit and Supervision Fees for 2023 to $906,752 from an initial invoice of $3,425,620.
Additionally, the AGM elected a strong eleven-member Committee of Management, which includes Gaietri Baron, Sattie Basdeo, Seepaul Narine, Porandatt Narine, Tarmattie Dyal, Harvey Tambron, Gordon Thomas, Julius Nurse, Bickram Singh, and Rikram Shrikishen. A three-member Supervisory Committee, consisting of Kavita Bishun, Raywattie Persaud, and Sasha Ruhoman, was also unanimously elected.
The GAWU Credit Union takes pride in its resilience and growth. Despite facing significant challenges. Our Credit Union is committed to helping members save and achieve their personal aspirations, and we take great pride in distributing our surplus less the statutory deductions directly to our members.
