St Vincent and the Grenadines Co-operative League

CO-OPERATIVE MONTH MESSAGE – 2015

Fellow Co-operators, October is the month when we join with our international family comprising of over 218 million members in 105 countries, in celebrating the uniqueness and virtues of our Co-operative Movement.

On behalf of the Board of Directors of the St Vincent and the Grenadines Co-operative League, I wish to extend to you the thousands of members of our Vincentian Credit Union and Co-operative family,{{more}} best wishes for a truly rewarding celebration of Co-operative Month under the theme “PEOPLE HELPING PEOPLE”.

Our theme “PEOPLE HELPING PEOPLE” is a reminder of what binds us to our core beliefs of pooling and sharing of resources and uniting for our collective good.

The socio-economic impact of the co-operative movement in St Vincent and the Grenadines is evidenced by the contributions of a consolidated sector of four credit unions, 15 general co-operatives and 87 school-based junior co-operatives.

In particular, our credit unions are a substantial base of the national economy. Adhering to democratic principles, sound financial management and effective internal and external regulatory systems, the Movement now has a combined membership of 74,000 persons, capital of EC$38 million, savings of EC$316 million and assets of EC$320 million.

Using the economically active population aged 15 to 64 as a measure of the degree of penetration, St Vincent and the Grenadines is at the top of the global ranking of countries with a growth rate in credit union membership of 94 per cent.

In facing the current realities, our credit unions are proactive in effecting change to serve a wider cross section of people by amalgamating and providing a broader array of business opportunities, including specialized facilities and services for small businesses, rural communities, women and youth.

Our future, the youths, are the centre of our attention. With extensive outreach to schools, credit unions are increasing the financial and business literacy of our youth ensuring that they expand their involvement in co-operatives.

Currently 32 per cent of the total membership of the co-operative movement in St Vincent and the Grenadines comprise youth 25 years old and under.

As we celebrate the distance we have covered in the national sphere, we take this time to also recognize our strides for unity and co-operation at the regional level.

The Credit Union Movement has long understood the oneness of the Caribbean region.

St Vincent and the Grenadines is a founding and active member of the Caribbean Confederation of Credit Unions, which emerged out of the West Indies Conference of Credit Societies (WICCS) in the 1960s. We have consistently maintained representation at the leadership level of the CCCU since its inception.

The St Vincent and the Grenadines Co-operative League and member credit unions will host the 14th Annual OECS Credit Union Summit from in August 2016. We were the proud hosts of this esteemed event when it was inaugurated back in 2003.

Through this medium, we will continue to foster the development of a common vision and strategy for the sustainability of the OECS Co-operative Sector.

Co-operatives live out their philosophy of ‘People Helping People’ every day and more so in times of disasters. I would like to take this opportunity on behalf of the member credit unions and co-operatives of the League, to express our support for the people of Dominica as they work to rebuild their communities and livelihoods in the wake of the tragedy caused by the passage of Tropical Storm Erika.

We are pleased to offer a financial contribution of EC$30,000 to the Dominica Co-operative Societies League to assist in the relief efforts of the Dominica Co-operative Movement in the aftermath of the tragedy.

The SVG Co-operative Movement stands in solidarity with the Co-operative Movement and people of Dominica and will continue to provide support and practical assistance wherever possible.

Our success as a Co-operative Movement lies in us always working together to achieve self-reliance through our philosophy of “PEOPLE HELPING PEOPLE”.

We have organized a month of activities to celebrate the cooperative difference, our proud cooperative heritage and the wonderful opportunities credit unions and cooperatives offer members. Details of the Coop Month programme can be had from the websites and social media sites of the League, credit unions and general cooperatives.

I take the opportunity to invite everyone to join with co-operatives all over the country, as we host our Coop Month of activities.

Brothers and sisters, I wish you a happy Co-operative Month, happy Credit Union Week and happy International Credit Union Day. Thank you.