The G.U.T. Credit Union is a financial cooperative. This means that we are owned by our members. It also means that members have the opportunity to direct the policy and strategic decisions of the Credit Union by serving on the Board of Directors or other volunteer committees.
What do the committees do?
The Board of Directors is responsible for creating policies and approving the overall budget of the Credit Union. Take a look at our most recent Annual Report for an overview of how we’ve been doing.
The Credit Committee ensures that that there is compliance with the loan policy and reviews and approves certain loans.
The Supervisory Committee monitors the Credit Union to promote the safety of the Credit Union’s assets and ensure that good governance is adhered to. This committee acts as internal auditors for the Credit Union.
Volunteers for these committees should:
- be 18 years or older
- be a Citizen of Grenada
- Hold at least 100 shares-i.e. $500.00
- be a member of the Credit Union for at least 1 year
- be a Regular saver-at least $60.00 per quarter
- be in good financial standing -not a delinquent borrower