Minister of Co-operatives, Hon. Eugene Hamilton has officially declared Open Credit Union Week 2019

By: Chaïra Flanders

Basseterre, St. Kitts, October 14, 2019 (ZIZ News): Minister of Co-Operatives, Hon. Eugene Hamilton has officially declared open Credit Union Week 2019.

While delivering his official address to the nation on Sunday, the Minister assured that in St. Kitts and Nevis, the credit union movement shows strength and is growing.

He said as of December 2018, the Nevis Co-operative Credit Union Limited; St. Kitts Co-operative Credit Union Limited; Police Co-operative Credit Union (St. Christopher and Nevis) Limited, and FND Enterprise Cooperative Credit Union Limited which is now First Federal Cooperative Credit Union Limited have combined assets amounting to EC $378.8 million and used the opportunity to congratulate the members and staff of the credit union sector for reaching yet another milestone.

“Together they comprise a membership of more than 27,500, with assets amounting to EC $378.8 million, savings (reflected by Shares & Deposits) amounting to EC $313.3 million, and loans amounting to EC $258.3 million as at December 31st, 2018.” he explained.

Minister Hamilton said the local credit union movement has also seen a significant increase in membership growth.

He said, “The local credit union movement has also seen a more than 10 percent growth in membership – a remarkable accomplishment achieved in no small part due to its annual week of activities, which raises awareness of the good work that the affiliate members are doing.

He then encouraged the public to keep in tuned with activities and media appearances expected from representatives of the St. Kitts and Nevis National Co-operative League throughout the week.

Minister Hamilton commended the St. Kitts and Nevis National Co-operative League for its “stellar performance” and wished it continued success.

Credit Union Week 2019 runs from Sunday, October 13th to Saturday, October 19th

The week of activities will coincide with International Credit Union Day, which is being celebrated on Thursday, October 17th under the theme “Local Service; Global Reach”.

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