Future of Credit Unions Discussed at Annual General Meeting

(ZIZ News) — The Cooperative Credit Union is looking at new ways of doing business as it charts the way forward for the institution.

During its Annual General Meeting [AGM] on Thursday evening, President of the Cooperative Credit Union, Marilyn Johnson said credit unions around the world are facing numerous challenges and in order to survive, it cannot be business as usual.

She said they must capitalize on the Credit Union’s unique strengths.

“We cannot compete with the banks, we’re not banks. However, Credit Unions have specific principles and values which set us apart from other financial institutions and we think that if we use these distinctive characteristics of Credit Unions and leverage them, we can provide better services for you and increase the value that we bring to you, the members,” Johnson noted.

The AGM took the form of an interactive meeting to discuss plans submitted by the executive board.

President of the St. Kitts and Nevis National Credit Union League, Analdo Bailey led the discussion and noted the importance of pooling the expertise of everyone involved.

He said, “We believe that by combining our efforts, our resources, our talents, our expertise, we believe that the challenges that currently face the organisation that they’ll pale in comparison to the resources that we have available to us, if only we would combine our efforts.”

The Annual General Meeting also included reports from the Credit Committee and the Supervisory Committee.

The event was held under the theme “A Better Financial Future for All”

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