On Saturday March 20, 2010 RHAND Credit Union Co-operative Society Limited successfully hosted its 62nd Annual General Meeting. It was simultaneously convened at the UWI Sport and Physical Education Centre, St Augustine, (Trinidad) and Works Conference Centre at Old Government Farm Road, Shaw Park, (Tobago) via video conferencing. The meeting commenced at 1:30pm with Eight Hundred and Twenty-Two (822) members in attendance – 684 Trinidad and 138 Tobago.
Mr. Trevor Percival, President of the Board of Directors delivered the Welcome Address. He briefly touched on the subject of the current economic downturn and its effects on the Credit Union during the past financial year.
The President’s address was followed by:
- The minutes of the last AGM and Special General Meeting
- Reports from the Board of Directors; Credit Committee; Supervisory Committee; and the Independent Auditor – Panel Kerr Foster.
Members from both locations were encouraged to voice their opinions regarding the information being disseminated. Issues raised were the:
- Level of interest rates and insurance coverage for RHAND’s “RHANDeposit”
- New office building that is to be constructed in Woodbrook
- Fate of the Credit Union when it is governed by the Central Bank of Trinidad & Tobago.
- Need for RHAND to make a genuine effort to help members who may be retired or unemployed.
- Credit Union’s short term investment portfolio
Mr. Hayden Blades, President of Business Insight Limited discussed the external environment in which RHAND operates; the general economy; and the implications for the Credit Union. Mr. David Maynard, General Manager, presented the 2009 Financial Statements. He stated that RHAND Credit Union is driven by two key watch words; accountability and performance. The high point of the meeting was his declaration of dividends of 3.5%.
On a lighter note, Mr. Ainsley Andrews, Manager Credit Administration; oversaw the draw for RHAND’s recent “Bottle & Spoon” loans promotion. Members of the audience were invited to select three winners from the box of application forms. Two members from Tobago – Kathrina Baptiste and Lorna Richardson and one from Trinidad – Mr. Rolly Parahoo were winners.
The Sharon Fyfe Initiative – “SAVE THE COPPERS FOR CHARITY” was launched. Members will be encouraged to make donations of their five and one cent pieces to be used to assist homes for underprivileged children.
The Election of Officers and voting followed and the meeting closed with Motions for amendments to existing Bye Laws.
