SVG Co-operative League News Bulletin

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Board of Directors Training


The SVG Co-operative League will conduct a training session for new and existing members of the Board of Directors of credit unions/co-operatives to foster better understanding of their “Roles and Responsibilities.
The objectives of the Training will aim to:

1) Enhance the knowledge and understanding of the strategies required to govern a financial institution;

2) Promote compliance with modernized legislation and regulatory systems;

3) To strengthen and develop new skills and techniques required to more effectively perform the duties of Directors.

This training session is scheduled to be held on Wednesday, September 20, 2017 from 2:00 pm to 4:00 pm at the SVG Co-operative League’s Conference Room, Lower Kingstown Park and will be facilitated by a representative from the Financial Services Authority (FSA).

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World Council Board Takes Office

World Council Presents New Members at Annual General Meeting 

VIENNA, Austria — Brian McCrory has been elected the Chair of World Council of Credit Unions Board of Directors. McCrory, who succeeded Daniel Burns, representing the Irish League of Credit Unions, formally took office during the World Credit Union Conference Annual General Meeting on Monday, 24 July in Vienna, Austria.

2017–2018 World Council Board of Directors
(Seated from left) Dr. Chul-sang Moon, Rafał Matusiak (Chair of the Governance and Elections Committee), Steve Stapp (Vice Chair), Brian McCrory (Chair), Diana Dykstra (Treasurer), Manfred Dasenbrock
(Standing from left) Mark Degotardi, Carla Altepeter, George Ototo, Kevin Sitka, Brian Branch (World Council president and CEO), Aaron Moses, Martha Durdin, Jaime Chavez Suarez and Dallas Bergl (not pictured).

“We are here trying to enhance cooperation among cooperatives. It is through these collaborations, not based on self-interest, but based on mutual interest we can capture, foster and enable cooperation on a global basis for our members, and our members’ members,” said McCrory. “We exist in the ecosystem of the financial services market, yet our DNA is very different so we must redouble our efforts to educate others. We ask our regulators to regulate not what we do but how we do it.”

Other new World Council directors at the 2017 annual general meeting included:

  • Kevin Sitka, Canada
  • Dallas Bergl, USA

World Council’s 2017-2018 executive committee is as follows:

Chair, Brian McCrory, Ireland

Vice Chair, Steve Stapp, USA

Treasurer, Diana Dykstra, USA

Chair of the Governance and Elections Committee, Rafal Matusiak, Poland

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Caribbean Confederation of Credit Unions expresses its willingness to work closer with the government of St. Kitts and Nevis.

BASSETERRE, St. Kitts, July 14, 2017 (Press Unit in the Office of the Prime Minister) – The new Executive Body of the Board of Directors of the Caribbean Confederation of Credit Unions (CCCU) has demonstrated its willingness to work closer with the Government of St. Kitts and Nevis in a number of areas that will redound to the benefit of the people of the Federation.

This view was expressed on Thursday, July 13, when members of the Board met with Prime Minister and Minister of Finance, Dr. the Honourable Timothy Harris, during a courtesy call at Government Headquarters.

Board members present during that meeting were President, Mr. Hally Haynes; Vice President, Mr. Joseph Remy; Secretary, Mr. Winston Fletcher; Treasurer, Mr. Lennox Bowman and General Manager, Mr. Ralph Wharton.  Permanent Secretary in the Office of the Prime Minister, Mr. Andrew Skerritt supported Prime Minister Harris during the discussions.

The officials deliberated on a wide range of issues including the state of the region’s financial and banking sector, regulatory framework in the region, the impact of de-risking and the withdrawal of correspondent banking relationships from caribbean banks, as well as the issue of anti-money laundering/combating the financing of terrorism (AML/CFT).

The Board members also updated Prime Minister Harris on plans for the construction of a new building to serve as the headquarters of the Caribbean Confederations of Credit Unions here in St. Kitts to the tune of over US$1 million.

The CCCU has been headquartered in St. Kitts since 2002, after being relocated from Barbados. However, the current building that houses the financial institution is more than 70 years old and is in a state of disrepair.

“The cost of our headquarters is going to cost us around US$1.3 million,” President Haynes told Prime Minister Harris. “We estimate that during the construction period about 40 persons or so will be employed on the facility. We projected that the construction should be over a period of 12 months and once we have the confederation building completed, it would be outfitted with the technological infrastructure to ensure that we can communicate with our constituency using ICTs.”

The Honourable Prime Minister Harris in turn expressed his appreciation to the Board on its decision to retain its headquarters in St. Kitts. “We are prepared as a Government to do what we can to ensure that the environment is the best one that you could have anywhere in the region.  I want to say thank you for choosing St. Kitts and Nevis to play this very important role and we would hope and envisage that as a result of your presence here more could be done for the development of the cooperatives sector in St. Kitts and Nevis and by extension within the OECS region,” Dr. Harris continued. It is expected that the new facility will house the CCCU’S administrative offices, a credit union museum and conference facilities.

The Caribbean Confederation of Credit Unions was established on August 17, 1972 in Dominica as the successor to the West Indies Conference of Credit Societies. It serves as the apex trade and development organization for credit unions and non-credit union co-operatives in the Caribbean.

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 Official Opening of the SVG Police Co-operative Credit Union Complex 

The St. Vincent and the Grenadines Police Co-operative Credit Union Complex

On Saturday January 28, 2017, the St. Vincent and the Grenadines Police Co-operative Credit Union (SVGPCCU) officially moved to its own home – the SVG Police Co-operative Credit Union Complex.  The credit union was housed at the Police Headquarters since its inception in 2003.

In his remarks, Bro. William Harry, the Founding Father of the (SVGPCCU) passionately revealed that hard work, pain, frustration and determination were some of the stepping stones to the realization of the credit union’s goals.  Remarks were also delivered by Mr. Cecil Jackson, Registrar of Cooperatives; Bro. Lennox Bowman, Director of the Caribbean Confederation of Credit Unions (CCCU) and Chief Executive Officer of GECCU; Bro. Dwight Lewis, President of the SVG Co-operative League and Bro. Junior Simmons, President of SVGPCCU.

Mrs. Seymonde Mulcaire, the Manager of SVGPCCU reported on the progress of the credit union from when it commenced operations in 2003 with a membership of three hundred and thirty (330) and five hundred and fifteen thousand dollars ($515,000) in assets.  Comparatively the current membership is two thousand one hundred and sixty-four (2,164) and the assets of SVGPCCU exceeds eleven million dollars ($11 million).

The Feature Address was delivered by Prime Minister, Dr. the Hon. Ralph E. Gonsalves, Min. of Finance and National Security. The ceremony culminated with the cutting of the ribbon and a tour of the building.


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