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CCCU directors pose for a picture with Premier Amory. Front row from left, Mr Trevor Alleyne (Secretary), Mr Christopher Samuda (President), Premier Amory and Mr Ashton Turney (Vice President). Standing from left, Mr Stanford Simon (Director), Mr Martin Guevara (CEO), Mr Julian Jack (Director), Mr Melvin Edwards (Director) and Mr Anthony Hall (Ex Officio Member). |
Charlestown Nevis (July 20, 2005) -- Premier of Nevis, the Hon Mr Vance Amory, has called for the recognition of the credit union movement by the Caribbean Community (Caricom) Secretariat.
Delivering the feature address on Wednesday at the 48th International Convention and the 34th Annual General Meeting of the Caribbean Confederation of Credit Unions (CCCU) at the Marriott Resort in St. Kitts, Mr Amory noted that the movement is a wider umbrella body representing more countries than Caricom.
I am proud to be associated with this very esteemed body, which has been at the forefront of the integration of the Caribbean people and will continue so to do even though you have not received recognition by the heads of government and the Caricom Secretariat and be accorded the honour of being part of their deliberations, said the Premier.
Mr Amory, who is still an active credit union member told the meeting that the sheer statistics, which are involved with the credit unions in the Caribbean, tell him that the region cannot speak effectively about the CSME without speaking about credit unions.
We speak of the freedom of movement of people, labour (trained/unskilled) and we speak of the mobilisation of resources, (but) how can we neglect of 1.6m members in credit unions, and how can we neglect the almost US$2bn worth of assets resident in the credit unions? posed the Premier. Caricom must be lobbied seriously for the CCCU to be accorded a seat of some sort within that umbrella organisation.
The session was chaired by the CCCUs president Mr Christopher Samuda, while the secretary, Mr Trevor Alleyne, introduced Premier Vance Amory, saying that he (Amory) is friend of the CCCU.
Premier Amory observed that the issue of the importance of credit unions to economic development is axiomatic, and added that it was necessary to ensure that there were new perspectives on the way forward in terms of consolidating and strengthening the movement, for it to continue to be a beacon of hope for the people of the Caribbean region.
The characteristics of the Credit Unions would suggest that because of their inclusiveness and their focus primarily on the ordinary man and woman in the ownership of the organisation and sharing in the profit of the organisation, that they are critical pillars for economic development.
He assured the meeting that, as governments everywhere they appreciate the impact and the importance of credit unions and the ripple effect, which the credit unions have throughout the communities in which they are residents.
He commented that credit unions in the Federation of St. Kitts and Nevis have done a tremendous job of ensuring that their members participate in economic activities of the country. He said: Our own (Nevis Island) Administration has utilised the capacity of the Nevis Co-operative Credit Union to manage a small half million dollars worth of funding to on-lend to small business owners who have the potential to engage in economic activity.
The Premier confirmed: Through this we are now seeing the benefits of more persons who may not have had the opportunity to access capital from an established commercial bank or even a development bank. They have been able to get themselves economically occupied so that they can lift themselves and their families up on to the social life of our country.
Thanking the CCCU for opening a Business Centre in St. Kitts, he encouraged everyone who is seeking an opportunity to invest and to share in the ownership of a viable institution, to become a member of a local credit union, as that would create an opportunity for persons desirous of accessing capital to have that opportunity.
Saying that credit unions are the vehicle for the empowerment of people, Mr Amory challenged them (credit unions) to broaden their memberships to those persons in the middle and upper classes so as to broaden the net to capture all and sundry to strengthen the structure of our credit unions, and concluded by telling them: Think big, think broad - because you have the people on your side.
