New panel in place for credit union mediation

Members of co-operative societies now have a new arbitration body to address their claims and disputes.

Minister of Small Business Entrepreneurship and Commerce Dwight Sutherland announced at his Warrens Office today that the Co-operative Societies Appeals Tribunal under the Co-operative Societies Act Cap.378A has been launched and will be made up of three members.

He introduced veteran attorney-at-law Anthony Reece as Chairman, active member of the Credit Union Movement Hally Haynes as Deputy Chairman, while Operations Manager of the Barbados Teacher’s Co-operative Credit Union Limited Davidson Ishmael will serve as a member.

Sutherland, who indicated that the tribunal will have jurisdiction to hear appeals against the decision of the Registrar of Co-operatives Brent Gittens or an arbitrator, explained that the department regulates and supervises 25 non-financial co-operatives and also has oversight of 39 friendly societies co-operators.

“Within all businesses you will have challenges. The tribunal is here as a key cog in building out co-operatives successfully to ensure that any challenges will be dealt with outside the court of law. Members within the co-operatives from time to time may have challenges and of course Mr Gittens, once he comes up with a decision those members within the co-operatives may not agree with the decision of the Registrar of the Co-operatives and they have a right to go to arbitration. That body is the co-operatives tribunal,” he said.

“We have making up the tribunal experienced persons who the Government feels are fitting to lead any arbitration or any dispute that will arise from time to time among the members of the co-operatives. And I want to thank these members publicly for accepting the offer on behalf of the Cabinet of Barbados,” Sutherland added.

The Minister said the model was critical to Government’s mandate to building out the economy.

He said the co-operative business model has proven that it was a great platform for creating wealth that was owned and controlled by the masses. This, he added, is demonstrated by the existence of financial co-operatives with an estimated asset base of $2.4 billion, a membership base of over 200,000 and well over 500 employees.

“Since this Government came to office, having seen six non-financial credit unions formed, I am confident that the whole people centred approach to wealth creation will be managed effectively and efficiently by these members, both the registrar and the tribunal,” he said.
anestahenry@barbadostoday.bb