Annual General Meetings

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.

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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 accounts 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. Feel free to view our AGM report for 2022 below.