MR. BRIAN CAMPBELL, MANAGER

Speaking to the manager of the Communal Mr. Brian Michael Campbell gave an insight into the philosophy of the management and board of the credit union and their vision not only for the Communal but for the credit union movement in Grenada. In Campbell’s professional judgment the reason for awarding the Communal Credit union of the year in 2005 could only have been significant growth in the assets of the institution and its steady membership increase, (the Communal had been registering around 100 new members per month). Other stringent application of policies and principles that were implemented and/or applied throughout the year would have influenced the decision.

It is immediately obvious even to the causal onlooker that Campbell runs a tight ship. This is evidence by the professional and organized air of the operations at the Communal and the fact that they get results.

Asked what set him and the institution apart from the others Campbell said his years of experience in the business would definitely be a factor.

THE NEW COMMUNAL BRANCH AT THE ESPLANADE MALL

He described himself as a businessman that is very concerned about results adding that the only thing that can reveal or confirm the effectiveness of the organization is results.

This philosophy then causes him to drive himself and the people under his management hard. Although sometimes his business approach may not go down well with all involved his ultimate concern is good service to the members /customers and the bottom line for the institution. “Ultimately success of failure depends on results”, he insists.

Campbell believes that the success of the credit union or any other business for that matter depends on strong decisive leadership base on knowledge, analysis and sound judgment.

He therefore sets the goals of the Communal with the board, the members and the staff of the organization but does not necessarily let the staff dictate what direction should or should not be followed.

Campbell has over the years observed the increasing prominence of credit unions on the financial landscape of the region. He has seen the credit union concept go through the metamorphosis from small obscure groups of generally low income individuals trying to pool their resources to the financial movers that they are today.

The Communal manager wants to see people get away entirely from the idea that credit unions are for small people depositing “two pence here and two pence there.”

He said credit union is big business now and it is therefore necessary to get the right people, adequately trained to manage and guide the institutions.

The Communal for example he pointed out is entrusted with over $20 million of members’ money to manage and therefore the responsibility to manage people’s money underlines the need for prudent knowledgeable management. Management must be supported by properly selected staff either fully trained or trainable, put them in the right place and with the manager’s guidance the right results can be reasonably expected.

Managing a credit union, Campbell said is much more than collecting people’s money and disbursing loans from time to time.

Today there is a greater responsibility to manage funds, a greater responsibility to find the proper level of investment to ensure that the institution has a reasonable balance and to manage your loan portfolio in such a way as to get the best returns.

All these considerations and others necessitate a lot of strategic planning and strategic management. These qualities must be combined with a quick sharp eye and a seriously analytical approach to business.

The manager thinks the fact that many members of the Communal’s board have a good knowledge of what credit union is all about is very important.

He says his board is comprised of a group of people who know what they want and where they want to take the organization. There are some very qualified people on the board in different areas and the blend does help.

Although they do not always agree on everything everyone has the organization at heart. He added that in every organization or structure it is important to have people who will disagree so that when an agreement is arrived at you get the best of everyone.

The vision of the Board of Directors of the Communal is to ensure the survival of the credit union. To constantly meet the prudential standards required by the World Council of Credit Unions and ensure proper high level service to the members.

Campbell said service to the members is the main thing because if you don’t have members you don’t have a business.

Campbell is not perturbed by the GARFIN bill introduced in the territories to govern financial institutions and people who deal with large sums of money.

He said credit unions are already self regulated and once they have proper systems in place with the right staff to handle the various areas they have nothing to fear since they do their own audits regularly anyway.

NORMA JEREMIAH, ESPLANADE BRANCH MANAGER

Campbell himself has a deep background in auditing, the Communal does its own audit annually and there is in place a Supervisory Committee which keeps a close eye on the affairs of the institution. He said those institutions that are not compliant with the regulations will either have to shape up or get out of the sector. Overall though he feels credit unions are well organized and they will be alright once they have their internal management systems in place.

About the new Communal branch established at the Esplanade Mall the manager said there was a cry from the membership for easier access to the credit union’s offices which is presently located on Green Street.

Some members had problems with the walk up from the terminus which involves negotiating some fairly steep hills. The other option is to take another bus which involves additional costs.

In 2005 the credit union did a survey among members on where they believed another branch should be established and the main suggestion was the Esplanade Mall. The management made recommendation to the board it was given serious thought and the decision taken.

The branch was opened for business on December 18th, right on schedule and is now providing a. The management made recommendation to the board it was given serious thought and the decision taken.

The branch was opened for business on December 18th, right on schedule and is now providing a valuable service for the membership saving them time and money.

It is doing so, Campbell said with no noticeable decline in the number of visits to the Green Street office so one is not suffering for the benefit of the other.

The future of the credit union movement continues to be bright Campbell said. The Communal has set itself the task of attracting more and more new membership so the there will be more benefits for members.

At the end of each year Communal members get interest on their savings plus a 7% dividend on their shares and this percentage has been consistent for the last several years.

For the future credit unions have to be more cooperative and collaborative. They must try to work together and have projects that are similar in nature then movement will be seen, the Communal boss believes.

The banks will always fight and threaten the credit union sector but the movement must maintain its niche and its share of the market. Credit unions he said must work harder to do something about services like ATM and other up to date financial services.

Other services like checking account facilities are also important and credit unions should approach the Eastern Caribbean Central Bank as a body and negotiate for access to the Clearing House.
The professional accountant envisages linkages among credit unions throughout the OECS community with a central office in one of the islands.

If the banks can do it why can’t we have a central office in the OECS and have all our monies channeled there he asked. Credit unions can then go to this institution for loans rather than the other banks. “If this is the case we will have real interest in our own bank and work harder for its growth” he said.

The Communal, with the combined efforts of its manager, its board and dedicated staff has vowed to stay at the top of the sector in Grenada and work for its development throughout the region thereby helping to assure a bright and prosperous future for credit unions and credit unionists.