Credit Union Week 2023: Digital Transformation for Financial Inclusion
Credit Union Week is being celebrated this week and Prime Minister Hon. Terrence Drew opened the week encouraging the unions to continue embracing digital transformations.
He said this during an address on Sunday in line with the theme “Digital Transformation for Financial Inclusion”.
“Each one plays a pivotal role in the economic fabric of St. Kitts and Nevis, embodying the essence of community empowerment and financial inclusivity. As member-owned financial operatives, they provide a vital alternative to traditional banking institutions. offering accessible savings, loans, and other financial services to individuals and small businesses.
Particularly in a nation characterized by its close-knit communities, credit unions serve as engines of local economic growth. Channeling funds back into neighbourhoods and fostering self-reliance. Moreover, you have demonstrated exceptional resilience in times of economic turbulence, standing as steadfast pillars of stability and support for your members.”
He mentioned each of the four credit unions that operate in St. Kitts and Nevis, praising their community involvement.
“This theme underlines the commitment of our credit unions to not only adapt to this digital age but also to lead the way in ensuring that every member of our community has access to the tools and opportunities they need to thrive. It is imperative that we collaborate to devise innovative ways to accomplish this.
The St. Kitts Nevis National Cooperative League Limited has been a cornerstone of our nation’s financial landscape. For decades, it has played a pivotal role in fostering economic empowerment and social development.”
The Prime Minister went on to encourage them to continue being “lynchpins in St. Kitts and Nevis’ journey towards economic prosperity.”