AGM Info

As a Credit Union member, it is your responsibility to attend Annual General Meetings. According to the Co-operative Societies Act (2 of 2011) subsection 42. (1) ‘A co-operative society shall hold an Annual General Meeting (AGM) in each year not later than four (4) months after the end of the financial year of the co-operative society.’ The end of our financial year is 31st December and our AGM is held near April.

According to the By-Laws, the function of the AGM shall be:

• To confirm the minutes of the previous AGM

• To consider the report of the Board of the immediate preceding year’s work of the society.

• To consider the financial statements presented by the Board of Directors for the preceding year, together with a comparative statements for the year preceding it

• To consider the report of the Auditor

• To appoint an Auditor for the ensuing year

• To approve the financial statements and the auditor’s report or, if the account are not approved, to cause the Directors to forthwith notify the Auditor of any error or misstatement

• To receive and approve the report of the Credit and supervisory & Compliance committee.

• To elect Director, Credit Committee and Supervisory &Compliance Committee members for the ensuing year.

• To allocate the surplus from preceding year, subject to Section 123 of Act and Regulation 5.

We look forward to seeing you at our upcoming AGM; the tentative date set is

The Board of Directors