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OECS credit unions standing firm in uncertain times
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| Published on Friday, August 21, 2009 | Email To Friend Print Version
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KINGSTOWN, St Vincent -- 'Standing firm in uncertain times'. That’s the theme under which the 7th Annual Organization of Eastern Caribbean States, (OECS) Credit Unions Summit will be held.
The event which will run from 20 August until 22 August 2009 in host country St Vincent and the Grenadines and will have more than 300 credit union representatives from across the OECS gather to exchange ideas, on how the credit union model of doing business can best be applied to find solutions to economic challenges.
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| OECS Credit Union Summit Press Briefing, (L-R) Manager of ECCCL Marlon Stevenson, President of SVG Credit Union Junior Bacchus and Manager of the SVG Credit Union League Angela Patrick. |
The three-day Summit was launched with an opening ceremony on Thursday at the Methodist Conference Centre, where Prime Minister and Minister of Finance of St Vincent and the Grenadines, Dr Ralph Gonsalves, will deliver the keynote address on the topic 'The Global Financial Crisis: Responding Today, Securing Tomorrow'.
The business segment of the Summit will feature a blend of panel discussions, general presentations and interactive workshops from financial analysts, business leaders and credit union experts who will share information on a range of topical issues.
International Credit Union Development Educator and outgoing Chairman of the World Council of Credit Unions, Melvin Edwards, will discuss financial sector harmonization in the OECS. Dr Basil Springer, a Change Engine Consultant with Caribbean Business Enterprise Trust Inc, will share his views on how credit unions could establish structured linkages with other co-operatives and small businesses, while economist and former Deputy Governor of the ECCB, Errol Allen, will focus on ways credit unions can invest their resources in a recessionary environment.
Manager of the St Vincent and the Grenadines Credit Union League, Angela Patrick, stated at a recent media conference to launch the Summit said that the theme chosen underscores the strength and empowerment that comes through co-operative ownership and practice.
Patrick also emphasized that through partnership, credit unions in the OECS continue to bring value to their members, communities and national economies under the most challenging conditions. President of the SVG Credit Union League, Junior Bacchus, said the idea of the Summit started in 2003, when the Union needed to place ideas, share knowledge and develop skills to manage the various Credit Unions throughout the region. He also noted that Credit Unions in the OECS have made a call to the governments to become more involved with the regulations in the financial sector.
“We have heard of some of the challenges in our financial environment, we have heard of banks around the world collapsing, businesses are folding up and we are finding out that governments are tightening the various regulations that are governing these sectors,” Bacchus stressed.
The 7th Annual Organization of Eastern Caribbean States, (OECS) Credit Unions Summit will climax with operational and policy recommendations that will assist credit unions to remain relevant, safe and competitive whilst advancing the social and economic well-being of their members. | | | | Reads : 896 | | | |
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