This single phrase contained in the President’s Report at the 20th Annual general Meeting of the Grenville Cooperative Credit Union illustrates one of the major thrusts of this financial institution as it continues to ready itself to meet the demands and challenges of the future.

The 20th AGM held at Bain’s Conference Center, Grenville St. Andrew’s on Thursday May17 was conducted under the theme, Cementing the Rural Economy by Practicing the Core Values of Credit Unionism.

This commitment as outlined in the theme of the AGM has seen the Grenville Credit union continuing to spread its wing to include as many persons in the rural communities as possible and offering them the means and the support to improve on their personal lives and at the same time help to develop their communities.

In fact this 20th AGM counted among the attendees members of the recently launched Belmont Estate branch of the Grenville Credit Union. In his report President Mr. Leroy Cadet urged each member to make a new pledge to work harder, to be loyal to the credit union and not forget that “we are our brothers’ and sisters’ keepers” describing this as the pillar on which the Credit Union Movement is built.

Cadet said that while each year brings new challenges to the credit union, the institution has not only risen to the challenges but has learnt many positive lessons that makes it stronger, clearer in vision; resolute in its determination to be responsible stewards and servants of the members and more prudent in the execution of duty.

Cadet said that as a result of the resolve of the board and management of the credit union the institution continues to be financially strong.
The President continued that the theme chosen helps the credit union to focus on critical issues. He said the Grenville Credit union has provided opportunities for the development, expansion and establishment of many small businesses in the communities and will continue to do so---the work of a caring credit union.

Cadet believes that board, management and members constantly reminding themselves of the core values of credit unionism is the only way to sustain growth and financial viability.

He is convinced that the reason so many persons come to the Grenville Credit Union each year is because of their trust and confidence in the credit union’s caring relationship with them.

Cadet said while operating with many distractions, the board of directors was able to launch a number of new initiatives, improve the quality of governance, review and institute new policies and maintain more direct oversight in the management of the credit union.

He added that some members have had to go beyond the call of duty to ensure that the board complied with its mandate.

The president expressed confidence that the membership, staff, committees and board of directors have a unity of vision and a strong resolve as to where the credit union will go in the future.

MR. LEROY CADET, PRESIDENT, GRENVILLE CO-OPERATIVE CREDIT UNION AT THE OFFICIAL OPENING OF THE BELMONT ESTATE BRANCH

He told the members that they continue to be the engine of the credit union and therefore they should do their part by capitalizing on all the services available to them and by encouraging family and other villagers to join the Grenville Credit Union.

He said “we can only make the rural economy stronger when the rural residents know what we have to offer and we give more persons the opportunity to access our services. Each person in the rural communities must become financially stronger to become less vulnerable to poverty and other negative factors”.

The AGM which was conducted in an atmosphere of professionalism and a businesslike sense of purpose was also addressed by a representative of the Grenada Cooperative League who exhortrd the Grenville Credit Union to continue doing its best to spread credit unionism in the rural communities and to continue operating along the lines of sound practices and maintain the principles of credit unionism.

An official of GARFIN, Mr. Stephen Horsford congratulated the Grenville Credit Union on holding its 20th AGM saying the many financial institutions do not even reach ten years far less twenty. He informed members of the credit union that GARFIN was there to protect them and not to pressure them.

HON. LAWERENCE JOSEPH AS HE OPENS THE BELMONT ESTATE BRANCH

He explained that while GIFSA was formed some years ago to regulate offshore financial services its operations did not extend to other financial institutions that were not regulated by Caribbean Central Bank as the regular commercial banks were.

GARFIN was formed to fill that void and it ensures that credit unions and other non-bank financial institutions operate in a transparent, prudent and professional manner and that the interests of all stakeholders in these organizations are served. One of the features of the AGM is to replace persons who had served out their time on the various committees. Some of them were eligible for a second term.

Outgoing on the Board of Directors were Ms. Ann Edmund and Mr. Kenrick Thomas. Mr. Thomas was nominated for a second term of three years and Mr. Rodney Mc Intyre added to the board.

Mr. Wilmoth Panchoo was outgoing on the Credit Committee. Ms. Ann Edmund took his place and will serve until 2010. Mr. Rodney Baptiste had come to the end of his term on the Supervisory Committee and was elected to serve for another three-year period.