THE Department of Co-operatives and Friendly Societies of the Ministry of Labour recently appointed a nine-member Interim Management Committee (IMC), to manage the affairs of the Clerical and Commercial Workers Co-operative Credit Union Limited (CCWU) for six months.

Made under the authority of the Co-operative Society Act, Chapter 88:01, the appointment grants the Chief Co-operatives Development Officer (CCDO), Janaknauth Panchu, the power to assume control of any co-operative, friendly society, or credit union deemed to be mismanaged or lacking transparency.

According to the ministry, the installation ceremony was attended by Minister of Labour, Joseph Hamilton, who explained in his remarks that the ministry’s intervention followed a formal petition from members of the CCWU who requested Government assistance in restoring proper management.

Additionally, Minister Hamilton emphasised that the IMC must act in the best interest of the Credit Union’s membership and reaffirmed that no management committee holds authority above the general membership, whose rights and shares must be respected equally.

The newly appointed IMC has been mandated to regularise the membership of the credit union so that it will be consistent with the rules; ascertain the assets of the credit union as it relates to the building, and differentiate the workers’ union’s assets from those owned by the credit union; perform any other duties that may be required to ensure that there is accountability and good governance in place; prepare the foundation for a Special General Meeting to have an elected committee of management; and to ensure that all records of the credit union are updated for audit up to December 2024.

The Ministry of Labour affirmed that it remains committed to promoting transparency, accountability, and effective governance within all cooperative societies and credit unions across the country.