GAWU Credit Union declares $14.5M profit
The Guyana Agricultural and General Workers Cooperative Credit Union Society Limited has declared a $14.5M profit for last year.
According to a statement from the union, the Guyana Agricultural and General Workers Union (GAWU), the credit union held its 17th Annual General Meeting on Sunday at the Umana Yana, Kingston, Georgetown, which saw an attendance of some 300 members drawn mainly from entities where GAWU enjoys bargaining rights.
The Report of the Committee of Management was presented by Rooplall Persaud, Secretary of the Society for the period November 23, 2009 to September 2010 highlighting the year’s activities of the Society.
The report of the Auditor was also presented as well as the Report of the Supervisory Committee. The Society had made a profit of $14,574,223 for 2009.
According to GAWU, during the AGM, five resolutions were approved relating to the disbursement of the surplus with $8.2 as Dividend Payments; $1.6 as Interest Rebates; $98,000 to the Social and Entertainment Fund; $1.7 to the Audit and Supervision Fund and $2.85 to the Statutory Reserve.
Eleven persons were elected to the Management Committee including Bevon Sinclair, Ramnarase Tiwari, Roopall Persaud, Charles Cadogan, Walter Raghoo, Indar Persaud Singh, Richard De Freitas, Gaietri Baron, Aslim Singh, Seepaul Narine and Derek Thakur.
Narda Mohamed, Kavita Bishun and Ameeta Carrol were elected as members of the Supervisory Committee.
According to the GAWU statement, over the past year the membership of the Credit Union grew by over 300 members to over 7,000 currently.