Senior Reporter
otto.carrington@cnc3.co.tt
Tensions flared outside the Works Credit Union office in Port-of-Spain yesterday as scores of frustrated members stood in protest, demanding transparency and an urgent Special General Meeting (SGM) to address what they describe as “serious governance breaches”.
Speaking on their behalf, former president Augustus Thomas, a long-serving member of the credit union since 1997, alleged the current board may have overstayed its term, ignored member petitions, and spent funds without an approved budget.
“Their term expired since May, and up to now they are still running the credit union without a budget,” Thomas told Guardian Media during the protest. “We are in November, and they continue to spend members’ money without approval. That is unconstitutional and unacceptable.”
Thomas said the supervisory committee signed off on the union’s financial accounts in June, which, according to the organisation’s bylaws, should have triggered an Annual General Meeting within one month. Instead, he claimed, the board did not act on the SGM request, and a member-driven effort to call the meeting was reportedly blocked.
Thomas said the supervisory committee signed off on the union’s financial accounts in June, which, according to the organisation’s bylaws, should have triggered an Annual General Meeting within one month. Instead, he claimed, the board did not act on the SGM request, and a member-driven effort to call the meeting was reportedly blocked.
“We collected 192 signatures requesting the SGM. The meeting was advertised, then suddenly pulled from the newspaper and the internet,” he said. “When we went to court, the matter was pushed to the Commissioner of Co-operative Development, and still, nothing happened.”
Thomas said both the Ministry of Finance and the Co-operative Commissioner were made aware of the situation but expressed concern that there had been delays in ensuring compliance with the Co-operative Societies Act.
“The commissioner’s silence is unacceptable,” he declared. “This is how the Hindu Credit Union and First National Credit Union fell apart. If this continues, Works Credit Union could be next.”
As members stood outside holding placards and voicing their anger, Thomas said the group’s next move would be to reclaim control of the credit union if the SGM is not called.
“This organisation belongs to us, the members. If they refuse to call the meeting, 192 of us will walk inside and take our seats. We are not going to court again,” he said, as members nodded in agreement. “We will take back our credit union.”
Thomas also alleged that some board members may be remaining in office for personal benefit. He added that, in his view, certain practices appeared to be inconsistent with the bylaws.
“My life savings and my children’s legacy are here,” Thomas said. “We will not let Works Credit Union become another Hindu Credit Union.”
Guardian Media reached out to the president of the credit union, Dawn De Souza, who opted not to comment on the claims made by the members. Efforts to contact the Commissioner for Co-operative Development on the matter were unsuccessful.
