GECCU weathering the storm for Vincentians

St. Vincent and the Grenadines is vulnerable to all sorts of disasters, natural and man-made, and GECCU is planning to helping Vincentians to weather the storms of the rainy seasons with the launch of their new loan ‘Weathering the Storm’.{{more}}

According to GECCU Vice-President Kenneth Douglas, the new loan symbolizes and capsulate the spirit of the GECCU song.

At a press conference held on June 15, GECCU General Manager Lennox Bowman said that storm related activities are the basic backbone of why this loan was started. “This new loan just builds on what GECCU has built up over the years,” Bowman went on to say.

The loan is available with attractive terms, and GECCU has planned an awareness and education campaign. The loan is meant for repairs to roofs, retaining walls, guttering and other parts of the property destroyed or damaged by a storm. GECCU says that it could possibly help the uninsured get affordable funding to insure their property.

The ‘Weathering the Storm’ loan has been available from Monday, June 18 and runs until the November 30, 2007. There is a capped ceiling of $20,000 that members of GECCU can apply for; the amount of money available to the individual will be based on estimates done on the property. You are given up to ten years to repay the loan at a rate of 9%.

Howie Prince of NEMO took the opportunity to congratulate GECCU for having great foresight, this he said, is an initiative that has the people at the centre. He also implored GECCU to have this loan available for longer than the hurricane season for as he said, “we are also susceptible to other natural disasters such as landslides.”