Central Co-operative Credit Union Ltd. holds successful 17th AGM

The Central Co-operative Credit Union Ltd. (CCCUL) recently completed another successful Annual General Meeting (AGM).

The 17th AGM was held on Tuesday, July 29, 2025, at the God’s Family House of Worship in Zicack, Portsmouth, under the theme: “Together We Win, Building Our Future as One.”

According to a press release issued on Friday, August 15, 2025, CCCUL is celebrating 17 years as an amalgamated, member-owned, member-governed, and member-managed financial co-operative, serving over 17,620 members in Dominica and abroad. The Board of Directors and Management took the opportunity to highlight the society’s success during another challenging financial year in Dominica.

Among the notable achievements for 2024 were:

• Increase in Accumulated Surplus: $2,082,830
• Growth in Share Capital: $1,152,164
• Increase in Total Assets: $172,252,809
• Net Surplus: $995,845
• Growth in Loan Portfolio (Net): $91,380,673

Furthermore, the release noted that the society’s cash flow position remains strong, stating: “We anticipate being able to meet all our loan demands.”

A key highlight of the AGM was the unanimous vote by members for a dividend of 5 percent on permanent shares.

“We exhort our members to continue utilizing the products and services offered by their Credit Union,” the release added. “As we channel through the vagaries in the economy—the rising inflation, increased migration, and job losses resulting in delinquency and an extremely competitive financial situation—the members of Central Co-operative Credit Union Ltd. remain confident in its Board of Directors.”

Two directors who completed their first term were re-elected: Mr. Alganan Ericson Degallerie and Miss Pearlisa Morvan.

A new director, Mr. Micah Walter—who previously served on the Credit Committee—was also elected to the Board.

At its first meeting earlier this week, the executive of the Board of Directors was elected as follows:

• Miss Arthlyn Nesty – President
• Mr. Micah Walter – Vice-President
• Mr. Lisle Bruney – Treasurer
• Miss Pearlisa Morvan – Secretary

The Board of Directors, Management, and Staff extend their gratitude to all members for making Central Co-operative Credit Union Ltd. their financial institution of choice. “We look forward to continuing to serve you,” the release concluded.