A strategic alliance between Belmont Estate in Hermitage, St. Patrick’s and the Grenville Co-operative Credit Union is set to be a catalyst for the economic development of the rural community of Hermitage and surrounding areas.

The establishment of a branch of the Grenville Credit Union on the compound of the Belmont Estate represents the realization of a dream for many people but it also represents the value of good partnerships and what can be achieved when business entities come together to make a positive difference.

Certainly the establishment of the Belmont Estate branch began long before either of the entities responsible knew it or had ever started to discuss the idea. There is a maxim that everything that happens had already been decided only we did not know it yet.

The two stimulants obviously took place separate of each other, unaware of and uninfluenced by each other but the manifestation of each would merge both sources.

The Grenville Co-operative Credit Union as a forward thinking and progressive organization aware of the needs of a changing society is forever looking for new and better ways to serve its customers/members. It is constantly on a quest to find methods of expanding its membership and is giving as many people as possible access to its quality services.

The management of the Belmont Estate on the other hand, also a progressive thinking establishment looking to break out of the old archaic way of interacting with workers thought that it was not sufficient to have just a you work and we pay you relationship with its staff. In their mind it was critical to do more to ensure the overall long term development of the staff, their families and the community as a whole.

Both entities pursuing their dreams along different paths will eventually meet at an intersection point and the result is the Belmont branch of the Grenville Co-operative Credit Union.

Hitherto unusual in the local business community, Managing Director of Belmont Estate Mrs. Shadel Nyack-Compton and her husband Attorney-at-Law, Mr. Jerry Seales saw the need for financial services to be readily available to their employees, farmers and the community.

It was a vision that would eventually lead Mrs. Nyack-Compton and Mrs. Sybil Henry-Martial who was at the time Business Manager at Belmont Estate to approach the management of the Grenville Co-operative Credit Union with the idea.

After much negotiation plans were in place for a 2004 opening of the branch.

However, Hurricane Ivan would not have it so and his passage delayed the plans to open. In 2006 discussions resumed now with Manager of Accounts at Belmont Estate, Mr. Jillian Thomas, Manager of Grenville Credit Union Mr. Devon Charles and Project Manager Mr. Terrance Baptiste.
Since both organizations were committed and resolute in their individual determination to make a positive difference the discussions bore fruit and the evidence of those cumulative efforts and hard work is the already very busy Belmont branch.

The opening of the branch took place in the presence of such personages as Speaker of the House of Representatives, Hon. Lawrence Joseph who is solicitor for the Grenville Credit Union and himself a member; Parliamentary Representative for St. Patrick’s East and Leader of the Opposition, Hon. Tillman Thomas and Minister of Sports, Community Development and Co-operatives, Hon. Roland Bhola.

 

Also present were Present of the Grenada Co-operative League, Pastor Stanford Simon; Manager of the General Employees Co-operative Credit Union in St. Vincent, Mr. Lennox Bowman who gave the feature address: members of the board, management and staff of the Grenville Credit Union; management and staff of the Belmont Estate; representatives of other credit unions and other invited guests.

Giving a background to the idea of a credit union on the compounds of the Belmont Estate, Mrs. Nyack-Compton said the initial discussion between herself and her husband to fine a means to further financially empower their staff focused on starting their own credit union at Belmont.

However when Mrs. Henry Martial began consultation with her business associates in the regional credit union community they strongly advised against starting a credit union as the regional trend was toward amalgamation.

They advised engaging the Grenville Co-operative Credit Union which was recognized as a model in the OECS for being efficiently operated and organized.

The evening’s activity was evidence of the results of those discussions.

Nyack-Compton challenged other companies and private enterprises and organizations to become proactive in the empowerment of their stakeholders and employees. She attempted to dispense the myth of estates being insensitive to the needs of their employees saying “we want the world to know that this is a fallacy and not a fact and that certainly Belmont Estate is all about the advancement of its people”.

President of the Grenville Co-operative Credit Union, Mr. Leroy Cadet recognized the new branch as being in pursuit of the mission of the credit union to bring its services and benefits to all persons and as such took the decision to cooperate with the Belmont Estate to establish the branch.

The guest speaker, Mr. Bowman spoke of the phenomenal growth of the Grenville Co-operative Credit Union in a relatively short time and gave some sound advice for maintaining that growth and continuing to develop.

President of the league, Stanford Simon, Hon Tillman Thomas and Hon. Roland Bhola all praised the two entities for the positive step they have taken in the interest of the members and employees and made their own observations of what is happening now and the way forward for the future.

Before the activity ended newly registered members of the Belmont Estate branch were presented with their certificates of membership. As an added bonus the first 200 people to register and purchase their first $100.00 worth of shares were given an additional 10 shares worth another $100.00. In addition persons who had difficulty coming up with the first $100.00 necessary for registration were given the option of paying in 4 easy installments.

The Master of Ceremonies for the evening’s activity was Grenville Co-operative Credit Union’s Project Manager for the opening of the Belmont Estate branch, Mr. Terrance Baptiste and the vote of thanks was given by Public Relations Officer, Mr. Dominic Jeremiah.

The ribbon was cut by Hon. Lawrence Joseph and guests were treated to refreshment to the sound of the local band and entertainment from a group of dancers and drummers.