SVGTCCU gives cash rebate for 38th anniversary

The St Vincent and the Grenadines Teachers Co-operative Credit Union Ltd (SVGTCCU) marks its 38th anniversary with a cash rebate to its members. This is in addition to the six per cent dividend that will both be made available from the anniversary, May 24, 2016.

This is the first time that the rebate is being given as cash. Members are given three months to collect the four per cent cash rebate. If not collected after this period, the rebate will be credited to the individual’s loan account.{{more}}

“The SVGTCCU saw it fit to reward their members for their 38 years of commitment to the continuous development of the credit union that now boasts of over one hundred million dollars ($100,000,000) in assets. It also reflects the ideals of the first president, Sis Yvonne Francis-Gibson, expressed at the second Annual General Meeting held on March 22nd, 1980,” the credit union said in a release.

Francis-Gibson noted then that “in spite of the teething problems, progress was made, but this has to be an on-going thing. Progress must be continuous if the objectives of co-operatives must be met. Let us, working together, help to remove the barriers that stand in the way of progress and strife for a viable credit society based on the maxim, one for all and all for one”.

The release said this maxim remains and is supported by the new tag line: ‘SVGTCCU, Your Total Credit Union’. The SVGTCCU provides services to all Vincentians from birth via the ASP saving plan, through to maturity via the Retirement Saving Plan, with returns of five per cent and six per cent respectively. With a 99 per cent approval rate, a variety of loan products are available to members. This includes the Revolving Loan that is accessible immediately upon joining the credit union.

As part of the anniversary celebrations, the SVGTCCU held their annual Family Fun Day on May 16, 2016, at the Rawacou Recreational Site. It was a blend of the credit unions’ stalwarts and the up and coming youthful members battling in fun games.

“On this occasion of the 38th anniversary, the SVGTCCU recognizes the contribution of all its volunteers, members, stakeholders and staff, then and now. Special mention must be made of the CEO, Bro Julian C Jack who has been at the helm from inception. Your prudent management has taken assets from $64,366 as at December 31st,1979 to $107,200,772 as at December 31st, 2015. Happy Anniversary,” the release from the credit union said.