Guyana Public Service Cooperative Credit Union is in Crisis

Nov 15, 2022 Letters

Dear Editor,

Last week I drove by the Guyana Public Service Cooperative Credit Union (GPSCCU) office on Hadfield Street and I was surprised at the extent of deterioration of the recently restored avenue between John and Lime Streets.

In April 2022 amidst pomp and ceremony, the Credit Union commissioned the restored avenue. That, together with its renovated Credit Union office building, made that section of Hadfield Street attractive and popular with residents of the area and general public.

Several people told me they drove along the avenue to feast their eyes, even though their destinations did not require they use that route. Not anymore – the rundown nature of the avenue in this short space of time has turned it into an eyesore, and should be a cause for concern by all members of the GPSCCU.

It is not only the avenue that has deteriorated; it is my information staff morale at the Credit Union is at its lowest, and members are suffering as a result. Services that up to recently were delivered in a day are now taking weeks, and premier products such as mortgages and car loans are denied or discontinued.

More importantly, the Credit Union has failed to hold its Annual General Meeting (AGM) in keeping with the statutes of the Guyana Cooperatives Societies Act, Cap. 88:01. A recent petition by members calling on the Committee of Management (CoM) to hold a Special General Meeting (SGM) has been disregarded by the CoM, and the matter is now a case before the courts.

Unfortunately, staff members are complaining that while all this is happening, some individuals are flouting the rules of the Credit Union. Their interests seem to be on utilising the resources of the Credit Union for their personal benefit.

Recently they have undertaken costly overseas travel to Jamaica, USA, Scotland and Panama. These trips I understand cost the society in excess of one million dollars per individual. Members are yet to receive any reports coming out of these trips.

The staff are also complaining that while ordinary members are being denied mortgages and car loans, other privileged members are availing themselves of those very facilities.

Editor, this situation is untenable and must be addressed urgently by members of the Credit Union.

Sincerely,

Joshua Luke