The Ministry of Social Protection said it is sorely disappointed with the conduct and behaviour of the Committee of Management of the Guyana Public Service Co-operative Credit Union which it accused of acting against the interest of its members and against the principles of prudent management styles.

In a statement issued by the ministry’s Department of Labour it was stated that members of the society who are in excess of 14,000 and have not been paid dividends for several years now because of the society’s inability and in some respects blatant refusal to hold an Annual General Meeting (AGM).
An AGM is usually held upon the completion of the Audit of the Accounts of the Society in conformity with the Provisions and Regulations as are contained in the Co-operative Societies Act, Chapter 88:01, of the Laws of Guyana.

“For more than one year now, the Ministry of Social Protection under whose supervision Co-operative Societies fall has been advising the Guyana Public Service Co-operative Credit Union (GPSCCU) on the necessary legal steps to be followed to ensure that the Audit of its accounts were completed so that the Annual General Meeting (AGM) could be held, to facilitate, among other things, the payment well deserved dividends to the members.
On the contrary, the Committee of Management demanded that the Ministry permit the society to continue enjoying a certain unfair advantage which had prevailed in the past, and which had been developed under suspicious circumstances.”

According to the ministry in spite of the several meetings and exchange of correspondences which clearly outlined its position of discontinuance of the unfair advantage to the Guyana Public Service Union Credit Union, its Committee of Management continued to defy the Ministry’s advice and even threatened to institute legal proceedings if the unfair advantage, which, for all intent and purpose was discriminatory, was not allowed to continue.

“In a final attempt to develop an amicable solution to the matter, the Ministry invited the Committee of Management to a meeting scheduled for 1:30 pm on 25th July, 2017. Rather than attending the meeting, the Committee rudely responded to the Ministry’s invitation and suggested that it would attend only when it was convenient to them to do so. That position adopted by the Committee is not only disrespectful but reflective of a desire to enjoy preferential treatment which borders on corruption.”
“The Ministry wishes to advise all members of the Guyana Public Service Credit Union that it is not to be held responsible for the Annual General Meeting (AGM) not being held at this time or any other time earlier.

Finally, the Ministry wishes to advise all Co-operative Societies and more particularly Credit Unions that the current dispensation does not allow for preferential treatment to anyone. The Law will be applied fairly, and equitably to all and sundry. At this time, we have no interest in divulging the parameters of the unfair advantage which the Guyana Public Service Credit Union enjoy, but if we are forced to do so then by all means that will be done,” the statement signed by Keith Scott Minister within the Ministry of Social Protection said.