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Annual Report 2018 EASTERN CREDIT UNION

21.2 Destruction of Ballots
A motion for the destruction of the ballots (physical and electronic) as well as the tally, moved by Mrs.
Pearl Yatali-Gonzales (Barataria Branch) and seconded by Ms. Rosita Sandiford was approved.

22.0 SUPERVISORY COMMITTEE REPORT
The Chairman of the Supervisory Committee, Ms. Stacy Alleyne, presented the Report. Some highlights of
the Report were the Committee’s:

• support for the implementation of a peer review system to evaluate both elected Officials and the
performance of Committees;

• recommendation that Management should explore the return of passbooks, especially to the
elderly.

22.1 Adoption
The Report of the Supervisory Committee was unanimously adopted on a motion moved by Mr. James
George Thomas (Port of Spain Branch) and seconded by Mr. Harvey Borris (Barataria Branch).

23.0 CREDIT COMMITTEE REPORT
The Credit Committee Report which was taken as read earlier in the proceedings was tabled for discussion
and the Chairman, Mr. Delroy Burris, provided adequate responses to questions raised.

The Report indicated that:

• The Committee dealt with an increased demand for share withdrawals and share-to-loan transfers.

• Nineteen (19) members sought meetings with the Committee for assistance, and all were dealt
with favourably.

• A total of 27,526 loans were approved by the Credit Union in 2017.

• While consumer loans accounted for the largest number of loans, the highest value of loans
disbursed was in the mortgage category.

The Committee recommended that a centralized Collections Unit be set up and assigned responsibility
for all loans in arrears, from day one to the realization of collateral held against those loans.

23.1 Adoption
On a motion moved by Mr. Gary Cross (St. Joseph Branch) and seconded by Ms. Loma Warner (Barataria
Branch), the Report of the Credit Committee, as amended, was unanimously adopted.

NAVIGATING THE FUTURE TOGETHER 17