Dear BPWCCUL (Barbados Public Workers’ Co-operative Credit Union) Limited members, some of you have expressed concern with the actions taken by the Board to acquire Capita, the apparent reluctance by the Board to be forthright with information regarding CAPITA’s operations and the manner in which decisions relating to Capita are being made.
It is possible that everything done by the Board is legitimate and that CAPITA is a good investment. However, it is not sensible for the members to blindly allow the Board to oversee almost $1 billion, without being fully transparent in and accountable for its actions.
It is suggested that the members demand a special general meeting to consider all matters relating to Capita, including its acquisition, operations and future direction. After considering all of the matters, the members can then make a decision to accept the Board’s actions regarding CAPITA or remove the Board and elect a new Board to execute the members’ wishes regarding CAPITA.
If you are in support of convening such a meeting, please print the attached Demand and have it signed by as many members as possible. You can periodically report here on the number of signatures collected. When fifty signatures have been secured, the members in possession of the signed forms can arrange to meet, copy and deliver the signed forms. If you sign the attached Demand, you need to be prepared for the possibility that the Board may resign. You should therefore give some thought to suitable replacements to lead BPWCCUL before the meeting is convened. If fifty signatures are not secured, you should consider this matter closed.
Please distribute the attached flyer to assist in disseminating this message to members of BPWCCUL.