News
June 19, 2009
SVGTCCU hosts 31st AGM

At the opening ceremony of the thirty-first annual general meeting of the SVG Teachers’ Corporative Credit Union (SVGTCCU), it was revealed that the organisation has exhibited growth despite the current trend of economic uncertainty.{{more}}

Making his final address as President of the SVGTCCU at the meeting held on Wednesday, June 10, Curtis King announced: “Despite the many challenges in 2008, the credit union increased its assets by $5.8 million or 10.5 per cent, over the 2007 figures.” King further revealed that of the $14 million requested in loans, $13.9 million was approved, and that the organisation provided all finance needed for the construction of its new headquarters, which is nearing completion.

In 2008, the SVGTCCU registered 1,004 new members, and according to King, the union fully adopted international accounting and financial reporting standards. This is in keeping with the organisation’s commitment to “further enhance… accountability, transparency, good governance and sound management.”

Some improvements made in the 2008 period include: payment of interest at the rate of 5 per cent on shares that existed before the introduction of permanent shares; proposed payment of 4.5 per cent on loan rebates; increasing of the disaster fund from $31,000 to $45,000; allocation of $45,000 to the student bursary, and allocation of $60,000 to the organisation’s development fund.

Whilst congratulating the SVGTCCU on its achievements, King beseeched all involved to continue putting in hard work and commitment. “We must not… become complacent. We must use the gains of 2008 to further advance the movement in 2009.”

King also expressed profound appreciation to the various committees, sister credit unions and leagues for the cooperation extended throughout his presidential reign. “You have provided me with a great opportunity to serve… I hope that together we have worked in harmony to advance the movement from where we met it to where it is today.”

Secretary Cheryl Evans presented King and Vice-President Junior Bacchus with plaques commending their excellent service to the union. Bacchus, too, gave his last address in a management capacity.

Evans also presented prizes to the winners of the SVGTCCU schools essay competition. In the primary school division, 1st place ($1,000) went to Sue-Ann Lewis, of the Argyle Primary School; and 2nd place ($500) went to Ronique Thorpe, of the Belmont Government School. In the secondary school division, 1st place ($1,000) was awarded to Shemanti Browne, of the Troumaca Secondary School; and Tammi-Ann Jack, of the Adelphi Secondary School, won the 2nd prize of $500.(JSV)