CHARLESTOWN NEVIS (OCTOBER 15, 2009) -- A pledge of continued support to the Nevis Co-operative Credit Union came from the Nevis Island Administration (NIA), when Minister of Co-operatives Hon. Robelto Hector marked the start of International Credit Union Week 2009 when he delivered a televised address on Friday.
The Minister gave the assurance that the NIA would help to propel the Credit Union forward as they continued to build a strong institution for future generations.
While he touted the contributions of pioneering members, Mr. Hector noted that it was through their commitment and selfless service that thousands of Nevisians and residents enjoyed an ownership stake in a strong and progressive financial co-operative, the Nevis Co-operative Credit Union that they called their own.
Mr. Hector referred to the theme “Your Money your Choice your Credit Union” as one which recognised that one’s involvement in the financial institution was a personal choice and that the value of economic democracy was shared by all members.
“This principle is underlined by the fact that members participate voluntarily in the economic and social activities of their credit union.
“Choosing a credit union to be your financial services provider produces a sense of personal pride and loyalty to an organisation that is owned by you, who are also its only customers,” he said.
Mr. Hector referred to the safety and soundness of credit unions and the level of trust which consumer finance and business experts around the world had repeatedly highlighted more so in 2009.
Notwithstanding, he explained while today’s economic times posed serious challenges, it also provided an opportunity for the co-operative sector to demonstrate the differences between co-operatives and traditional business models.
“People are increasingly looking for businesses that are open, democratic and put people before profits and that is what co-operatives and the credit-unions are all about.
“Credit union leaders around the world agree that now is the time to come together and promote co-operatives in general and the credit union difference, in particular,” the Minister said.
Mr. Hector further explained that in this time of economic upheaval when control had largely been taken out of the hands of consumers, this year’s theme demonstrated that credit union members, through equal ownership and voting rights, were squarely in charge of their money and their credit unions.
He urged members of the Nevis Co-operative Credit union to reflect on the advantages of being a member of the organisation
“Value, trust and service to members are just some of the many benefits of being a credit union member. You are in charge of your money and your credit union,” he said.
The Nevis Co-operative Credit Union which has partnered with the NIA in areas of development of the people of Nevis joined with over 186 million credit union members across 53,000 credit unions in 97 countries worldwide on Thursday October 15, in observance of International Credit Union Day.
