| RCCU Holds 58th AGM |
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Reports Solid Financial Performance The approval of a 6% dividend on Member Shares and plans to introduce an international debit card, online transactions and to amalgamate with four sister credit unions were among the highlights when members of the Roseau Co-operative Credit Union Ltd met on June 8, to review the Society’s performance for the Year 2008. The Society staged its 58th Annual General Meeting (AGM) under the theme, “Maintaining Financial Stability in a Challenging Environment.”
RCCU President, Mr. Dexter Ducreay, reported to the membership that the Society recorded solid financial performance in 2008. Assets grew by 8.12% or $19.5M which propelled total assets beyond the $1/4B mark to $259.9M. The Society recorded a surplus of $2.67M, an increase of 22.12% over 2007. Members continued to save regularly resulting in a net increase in savings and deposits of 7.8% or $16.6M. A total of 1,176 new members joined the Society steering the membership roll to 24,542. The nominations to fill positions on the Board of Directors were accepted unopposed by the membership. Nominees Miss Rhoda Celaire, Mrs. Janice Jean-Jacques Thomas and Mr. Thomas Dorsett filled the vacant positions. Mr. Cecil Shillingford, Mr. Augustus Etienne and Miss Nadette Williams were elected to the Supervisory Committee. Newly elected members of the Credit Committee are Mrs. Julie Durand, Mr. Antoine Martin and Ms. Shirlyn Pond. 115 lucky members walked away with a total of $11,500 in prizes of $100 each from the eagerly anticipated Lucky Bird draw which was held at the end of the meeting. |
