BASSETERRE, St. Kitts – THE Foundation for National Development (FND) has made significant progress in its transition to become the FND Enterprise Co-operative Credit Union Ltd. (FNDECCU) after this week’s election gave the institution its first Board of Directors.
The FND has been around since 1985 functioning as a micro-credit institution. In the last five years, management held extensive discussions on how the FND could be expanded from merely a credit institution to become a full-service financial institution.
Following feasibility studies in August of last year, the FND Board of Directors decided to convert the organization into a financial co-operative credit union.
Yesterday (Oct. 21), the Board of Directors met amongst themselves in the Conference Room of the FNDECCU to elect an executive body. As a result, Ernest Pistana was elected President, Auckland Hector, Vice President, and Faron Lawrence, Treasurer, with Franklin Brand elected to serve as his assistant.
Althea Arturton was elected Secretary and Earl Thomas was elected to the post of Assistant Secretary. Diana Bowrin, Spencer Howell and Joseph Edmeade were also nominated to sit as members of the Board.
During the FNDECCU’s inaugural annual general meeting, held at the Ocean Terrace Inn last Saturday (Oct. 17), ten members were nominated to the Supervisory and Credit Committees of the new company.
To the Supervisory Committee, Anthony Kelsick, David Fox, Judith Rawlins, Cosbert Manchester and Kishona Williams were nominated.
Five were also nominated to serve on the Credit Committee, namely Cynthia Morton, Howard Richardson, Esrick Lanns and Beverly Williams. There was no challenge to any of the nominees.
Former FND Executive Director and current FNDECCU General Manager James Webbe told SKNVibes that he is very pleased with the new Board, as he noted that it will be instrumental in ensuring that the FND makes a seamless transition to a co-operative credit union.
“The FND was the best-run national development foundation in the region. These are brilliant people and most of them have been active in the work of FND for about 25 years.
“We were the best-run micro and small business development in the region, and without these people we would not have reached that status. So, I’m very confident that this new FND board will take the co-operative credit union from strength to strength,” Webbe stated.
He explained that the Board will govern the new company for the next three years, which would be critical in its overall establishment.
In a press release issued by the FNDECCU, the Board, management and staff thanked its customers for their patronage and loyalty over the years, and look forward to giving “even greater value” to the micro and small business community in the years ahead.
