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.

  • 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.