MEMBERS WANT ANSWERS

CCNTV6

Members of the COPOS Credit Union are calling for answers as no dividends have been paid to their deposits for the past four years. This was confirmed by the general manager of the establishment who spoke with reporter Elizabeth Williams. More in this report.

Transcript

00:00What is happening for the past three to four years, we have not been able to get a dividend.

00:04When we address the management concerning it, they're saying that no auditing has been done

00:09for the past four years and it is impossible for it not to be audited because every year

00:14any financial institution would be audited every year in coming to the next year.

00:23So I'm not satisfied. So that's why I'm here this morning.

00:26Hundreds of people are affected in Tobago. A Corpus Credit Union member, Janelle Clinton,

00:31says the establishment continues to leave members in the dark as to what exactly is happening.

00:37And it is very, very unfair knowing that we're paying, we're paying, we loan everything.

00:43When we come and we ask or we call, we have to keep our AGM. Last year they keep AGM meeting,

00:48then they come and say they ain't paying no dividends. They owe we for four years. Even

00:54though you pay the AGM, you keep the AGM meeting. Pay for two years, let we feel good.

01:00Mama guy, we are something. We just sit down in the dark and we ain't doing nothing.

01:05We're taking place inside out here.

01:07Ms. Clinton told TV6 News that she was depending on the dividends to assist her

01:12in buying her daughter's school supplies for the reopening of school in September.

01:18It affected me very bad because school coming up, my daughter, I'm four, I'm three.

01:23I looking out for the little dividends to pay, buy my school books, nothing. They had to do

01:29better than that, man. Every day I just call, I don't just call here, I just call Trinidad.

01:33They like to tell you how dreaded it is. And they, you know, over the phone, they're beating

01:37you around the bush and hang up the phone. Plops, that is it. We can't get no kind of

01:42information from them. They need to do better than that, man.

01:44TV6 News contacted General Manager of Cooper's Credit Union, Niles Horsford.

01:49He confirmed the non-payment of dividends to members for the past four years.

01:54Mr. Horsford said there is a backlog from 2018 as a new regulation was introduced in

02:00the financial sector. And while audits of the credit union remain ongoing for 2021,

02:072022 and 2023, it is hoped that these would be completed by year end so that the payment

02:14of dividends to members can take place. Elizabeth Williams, TV6 News.

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