The largest Cooperative Credit Union on the island has announced its share of contributions to clients, staff and those affected by Tropical Storm Erika.
President of the National Cooperative Credit Union (NCCU), Dexter Ducreay, said on Monday that EC$100,000 have been made available in vouchers for food, power top-up and medicine to be be handled by the Welfare Division.
Deferment of loan principle for up to six months as well as a waiver of interest rates for members and assistance to staff members, who were affected by the storm, are also part of the NCCU’s plan.
According to Ducreay, many of NCCU’s clients have either died, lost property or were displaced from the place they call home by Erika.
“We have been informed that well over 300 persons have been misplaced from their homes,” he said. “They are being housed in shelters, schools, community centers and family homes. Now that the storm has moved on, the humanitarian effort of housing, clothing and feeding the victims will be with us for some time. Our profound gratitude goes out to the government of Dominica, communities, business houses, and families for the involvement in the caring for Tropical storm Erika victims. NCCU is guided by seven cooperate principles, and one of these principles is people helping people. The effect of Tropical Storm Erika gives us the opportunity to place that philosophy into action by being compassionate, kind hearted and stands ready to assist in times of need.”
He urged all employees affected by the storm to report their loss to their supervisors.
As it relates to the vouchers, a list has been sent to the NCCU and the Welfare Division of the names of the over 300 eligible recipients.
The Welfare Division will then decide on the value of the voucher that each family receives.
Additionally, during the course of the month, information on the exact locations where the vouchers will be redeemable for food, top-up and medicine, will be sent to the Welfare Division so recipients will know where to utilize them.
Ducreay said the deferment and waivers of interests and loan payments will allow members to have some disposable income which could go into other areas of need.
Good example. The National Bank of Dominica (NBD) and all banking institutes should follow same. We tend to think that if a business does not sustain any damages from the storm, things are ok. But, no, on the other hand, business can slow down thus affecting your cash flow. So I call on the Banks, especially the NBD to give some support to persons who have business loans and mortgages to pay.
Great, great gesture by the NCCU. It’s really looking out for its members. Thank you, NCCU.