Activities To Observe International Credit Union Day Begin With Address By Prime Minister Harris

Basseterre, St. Kitts, October 12th , 2020 (ZIZ News): Thursday 15th October will be celebrated by Credit Unions and Co-operators all over the world as International Credit Union Day.

To commemorate International Credit Union Day 2020, the St. Kitts Nevis National Co-Operative League Limited and its 4 affiliates, the Nevis Co-operative Credit Union Ltd, The St. Kitts Co-Operative Credit Union Ltd, and First Federal Co-operative Credit Union Ltd, and The Police Co-operative Credit Union Ltd will celebrate with a number of events.

The celebratory activities which will take place over a two-week period commenced on Sunday with a National Broadcast by the Prime Minister and Minister of Finance Dr. Hon. Timothy Harris who spoke of the role of the National Co-Operative League.

“ The league is the chief advocate and representative before all competent authority. It serves as the official voice of the cooperative movement representing its interest at the national, regional and international levels. The league is directed by eight delegates representing two from each of the four affiliate Credit Unions,” he said.

“In July 1995, the council was re-registered as the St. Christopher and Nevis National Cooperative League with a broader mandate to harmonize, develop and represent the entire cooperative sector in the country.”

He said Credit Unions are by nature and purpose designed to assist members. He said they go above and beyond to ensure their members reach financial success through personalised service.

“ Anyone who saves or borrows, can become a member of a credit union. They are cooperatives; therefore members control the institutions and elect directors. Like banks, they are available for savings and loans at reasonable rates, but unlike banks, there are no third party shareholders demanding profits before customer benefits. This means that any surplus profits are reinvested to improve their services or returned to their members as saving dividends.”

Outlining the significance of the theme for International Credit Union Day 2020Prime Minister Harris said it speaks to the difficulties being around the world.

“ This year’s commemoration is being celebrated under the theme “Inspiring Hope for a Global Community.” It is a most pertinent and relevant theme against the backdrop of the current worldwide challenges and the despair and uncertainty caused by the covid19 pandemic.”

The activities for International Credit Union Day 2020 will include visits to Radio stations including ZIZ radio at 10am on Tuesday.

The activities to mark this year’s celebrations will come to a close with the staging of the Credit Unions game show, entitled The Battle of the Credit Union Champions.

This will be held on October 29th and will feature 16 personalities and 4 teams from the 4 affiliates with a grand prize of $5,000 and all other prizes will be donated to deserving schools and charities.


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