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(CCCU) Caribbean Confederations of Credit Unions, head organization for Credit Unions of the Caribbean, held its 3 rd quarterly board meeting at the Marriott Resort Hotel on Friday September 28th.
CARIBBEAN CONFEDERATION OF CREDIT UNIONS
COURTS CARICOM
 (CCCU) Caribbean
Confederations of Credit Unions, head organization for Credit Unions of the Caribbean, held its 3 rd quarterly
board meeting at the Marriott Resort Hotel on Friday September 28th. The
conference was scheduled for two days, the 28th and 29th of September. Members
of the Board of Directors, during a recess of proceedings on Friday morning,
met the press in an adjacent room of the Marriot.
The President of the
Confederation of Credit Union, Mr. Julian C. Jack of St. Vincent and the
Grenadines, alongside native son, Mr. Melvin R. Edwards,
chairman of the World Council of Credit Unions and specialist in development
finance and project management, headlined the press conference. Joining them
were regional as well as local Credit Unions representatives. The consensus of
the press conference seemed centered on the wholehearted push by members of the
Credit Union to gain the attention of CARICOM and to be included in policy
making governmental procedures, and most importantly to insist upon proper
legislations for Credit Unions throughout the region.
Mr. Julian Jack said of the
Credit Union's endeavors, "Our Business is that of coordinating all the
business of the entire league. We have about 273 Credit Unions in our region.
When we look at the movement we see some amalgamations taking place. We are
concerned about safety and soundness in the Credit Union, because members put
money in the Credit Union and when the time comes they're going to want it
back. We are encouraging as part of that safety net a question of regional
integration. We have made several calls for our voices to be heard at CARICOM
and at this time I'm not proud that we're not heard, but we will continue to
push until our voices are heard."
The Caribbean Confederation
of Credit Union was established in August 1972 as a successor to the West
Indies Conferences of Credit Societies, and it serves as the main trade and
development organization for financial and non-financial co-operatives in the Caribbean. The organization is
governed by a Board of Directors and claims as its operating philosophy '
cooperation, equality and mutual self-help'.
Mr. Melvin R. Edwards joined
his voice in accord with the President Mr. Jack, he said, "We put a high
price on good governance; we will self-regulate; but it is important that the
government has in place the proper regulatory body. That is one of our main
concerns." Other concerns, which Mr. Edward stressed, were the necessities
of minimization of antimony, money laundering, fraud and corruption in the
region.
According to Mrs. Yvonne
Rigard one Director on the Board and Lawyer for the CCCU, 75% of CARICOM
Leaders are Credit Union members themselves, it is her belief that CCCU needs
to remind those leaders of its importance, she said, "We need to say to
our government that we have lots of people in the Credit Union and that there
is power in association."
In concluding the press
conference, a cheque, on behalf of the Nevis Credit Union was handed over by
Manager Sydney Newton to the CCCU Development Foundation's Disaster Fund.
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