Co-operatives cannot be taken for granted

Co-operatives here yesterday joined with more than 360 co-operatives with over 200 million members in 102 countries world-wide, to celebrate International Credit Union Day.{{more}}

The theme for this year’s celebrations was “Co-operatives united for a good – A better way.”

To commemorate the occasion on the local scene, a week of activities began with a church service on Sunday, October 13.

Other activities included the national schools co-operative awards, a leadership development forum, radio messages and a senior care day.

“As a credit union movement, as a co-operative movement, we believe that it is a time when we must promote our difference,” said Junior Bacchus, President of the St Vincent and the Grenadines Co-operative Credit Union League.

Bacchus was speaking on Monday, at the launch of Co-operative Week 2013. He said that co-operatives here are “very special.”

“Many times people may take us for granted, but here in this country, we cannot be taken for granted. We have over 62,000 members actively in six credit unions….”

He further stated that in an era that continuously poses economic and financial challenges for people around the world, this year’s theme honours the co-operative principles and positions co-operatives as an effective and sustainable alternative to other business models.

“Co-operatives have been an important player in the Vincentian economy for more than 60 years, and are as relevant today as they ever have been.”

The co-operative network in St Vincent and the Grenadines consists of 18 primary societies (credit unions and general co-operatives), 87 junior co-operatives, one secondary apex co-operative (the national League), and one credit union service organization (a micro-finance co-operative).

With more than 62,000 members, St Vincent and the Grenadines has the second highest per capita credit union penetration in the world. (AA)