Cooperatives in SVG discuss future plans

Cooperatives in St Vincent and the Grenadines are looking inwards to provide a better future for the movement and its members in this country.

At a seminar, which was held on November 6, under the theme “Local Service, Global Good, Cementing Our Cooperative Future,” representatives from various cooperative entities discussed a number of factors which would help to provide guidance in the future of the cooperative movement.{{more}}

While speaking at the opening ceremony, registrar of cooperatives Cecil Jackson noted the theme and said that it indicates that cooperatives, locally and in the Caribbean, must examine a number of critical issues.

“Local Service, Global Good, Cementing Our Cooperative Future” points us locally and in the Caribbean to a number of critical issues, principles and best practices, which we must examine, utilize and incorporate into our strategic plans if our cooperative societies both financial and non-financial, are to remain relevant to needs of our members and wider Caribbean society. These principles include accountability, transparency, collaboration, networking, trust, commitment, membership, participation and good governance and all other critical success factors,” he said.

Jackson stated that the Government of St Vincent and the Grenadines has recognized the importance of cooperatives in national development and noted that the state will continue to provide an enabling environment in which these societies can develop and grow.

“The credit unions continue to impact significantly on the lives of their members throughout St Vincent and the Grenadines in a number of areas. We must continue to build the capital base of our cooperative institutions at the credit union level, within the cooperative societies and at the level of our secondary cooperative entities,” Jackson pointed out.

Director on the board for the Caribbean Confederation of Credit Unions (CCCU) Lennox Bowman expressed gratitude to members, staff, directors and successive governments for the support that they have provided over the years.

“Look at the development which we have experienced so far in a mere 55 years or so of being in St Vincent and the Grenadines,” Bowman said.

In his remarks, the CCCU board director highlighted the purpose of CCCU and stressed that in order for the organization to be successful, credit unions must support and build strong leagues.

Bowman, who is also the CEO of the General Employees Cooperative Credit Union (GECCU), highlighted the important contributions that cooperatives can make to a country.

“The economic transformation that we talk about all the time is to ensure attainable and sustainable growth, higher levels of employment in quality jobs, poverty reduction and improvement in human development indices,” he said.(BK)