GPSCCU Annual Report 2013
Minutes
Minutes of the 66th Annual General Meeting
of the Grenada Public Service Co-operative
Credit Union
of AGM 2012
Held on Thursday 25th April 2013
At the Trade Centre, Grande Anse St. George’s
AGM13/01 Call to Order and Welcome
The meeting began at 2:22 pm with the Credit Union prayer
led by Sis. Merina Jessamy and then the singing of the National
Anthem.
A moment of silence was observed in respect of all members
who had died since the last AGM.
Excuses for absences were given on behalf of members; Sir.
Reginald Palmer and Sir. Daniel Williams.
AGM13/02 President’s welcome
President, Bro. Phillip Telesford welcomed everyone to the
66th Annual General Meeting. He reflected on the birth of the
Credit Union 66 years ago through the dreams of 21 members
of the Public Service with a capital of $1000. He reminded the
membership that this was only possible through cooperation,
dedication and a deep rooted commitment to persevere.
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Bro. Telesford thanked the entire membership for partnering and
rallying with the Credit Union through the hardships suffered
throughout the years with Hurricanes Ivan and Emily, the BAICO
and CLICO write-offs and the global economic recession.
He expressed his satisfaction in reporting that in the year 2012,
for the second successive year, the GPSCCU reported a net
surplus of $2M before appropriations with a growth in Total
Assets of 10.7%, growth in Total Loans of 6.3% and growth in
deposits of 12.1%. For this he thanked the Management and
Staff for their hard work and dedication. This rate of growth, he
said, highlighted the need for larger office space at the Church
Street and Carriacou Offices.