SVGTCU has a new President

Cheryl Evans is now the President of the SVG Teachers’ Credit Union Ltd.

Evans, a Lecturer at the SVG Technical College, was elected by her colleagues on the Board to the prestigious position of President, following the 31st Annual General meeting of the credit union.{{more}}

Prior to taking up the post of President, Evans served on the Board for four years as Secretary; she also served on the Education Committee and on the Supervisory Committee for a number of years.

By accepting the post, Evans has become only the second female to be President of the Teachers’ Credit Union. She was preceded by Yvonne Francis Gibson, who held the post from February 1979 to April 1981.

The confident Evans assured the Board that under her presidency the credit union must remain a leader in the provision of services and benefits that impact positively on the lives of members, and by extension the Vincentian community. She declared that her management style will be one of inclusiveness and put the Board on alert that she intends to utilize their varying talents to ensure development. She called on the General Manager to ensure that staff continue to produce since they are an important cog in the wheel of credit union development.

Evans noted that the challenges are numerous – the down turn in the world economy, this country’s inability to compete effectively in the production of economic stabilizing goods and services, our high dependence on imports rather than on local products are all issues that could impact the growth of the credit union. She further stated: “We must be cognizant that these factors would slowdown our rate of growth since some members may become unemployed and or under-employed. This will have implications for savings and loan repayment. The credit union will have to constantly review its policies to ensure that our strategies are working. Our members will need to understand this.”

Notwithstanding these challenges, Evans was positive that the credit union will do well. She even ventured to say that 2009 may well be our best year to date, noting that historically credit unions thrive best during economic depressions.

The full Board that will guide the Teachers’ Credit Union for the next year reads: Cheryl Evans – President; Calvin Herbert-Vice President; Elton David-Secretary; Nathaniel Williams-Treasurer; Miriam Roache -Director; Dunstan Johnson-Director; Dwight Lewis-Director.

The credit union held its 31st Annual General Meeting on June 10, 2009. It reported to the members that they recruited 1004 new members in 2008.

It established a new Share Capital Account (Permanent Shares) and all 9045 members hold shares in this account. According to the report, the credit union did not pay a dividend for 2008, but all members who held the original share capital now called Share Deposit Account received interest on the account at 5% per annum. The total assets of the Teachers’ Credit Union at December 31, 2008, was EC$61.6 million.