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Int'l Convention 2015

CCCU International Convention
Cancun, Mexico
June 20th - 23rd, 2015

Caribbean Credit Unions and the Foreign Account Compliance Act (FATCA)

The proposed regulation which is expected to be finalized by December 31, 2012 and if finalized as proposed, require non-U.S. credit unions to register with the IRS...

icon FATCA (403.66 kB)

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Home News Please Help During This Critical Time of Need
Please Help During This Critical Time of Need PDF Print E-mail

On December 24, 2013, Dominica, St. Lucia and St. Vincent and The Grenadines, were severely affected by a weather system which resulted in widespread flooding, landslides and loss of life. As a result, CCCU requested these Affiliates to advise of the extent of damage to Credit Unions and their members, so that assistance could be mobilized.

Whereas Dominica has reported that Credit Unions and their members were not unduly affected despite the damage to several elements of the infrastructure, St. Lucia and St. Vincent and The Grenadines, have experienced major damage and dislocation.

The Co-operative Credit Union League of St. Lucia has advised that based on surveys conducted among Credit Unions and their members who were more severely affected by this disaster, financial assistance required to provide much needed relief to distressed members, is estimated at two hundred and twenty three thousand dollars U.S. dollars [US$223,000].

The St. Vincent and The Grenadines Co-operative League has also advised that although no Credit Unions suffered any direct damage, a number of the 15,296 residents directly affected by the disaster, were either direct members of Credit Unions and other co-operatives , or dependents of these members.

Because of the extent of the damage in St. Vincent and The Grenadines to the homes of Credit Unions members and small businesses owned by them, the loss of crops, livestock and damage to farm lands of members of Agricultural Co-operatives, the widespread erosion which damaged the road networks and water mains, the overall financial impact cannot be easily quantified but significant financial assistance is required to provide immediate and on-going relief to members.

The CCCU is co-ordinating a response and is hereby issuing an appeal to all Affiliates and their member Credit Unions as well as individual Credit Union members, for donations to the CCCU Development Foundation to be used to assist these two [2] Affiliates which were hardest hit.

Contributions are urgently required and will be immensely appreciated.

 

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