President of the Board of Directors of the National Cooperative Credit Union Ltd (NCCU), Mc Dowill Paul is reporting an increase in the company’s membership from 52,628 at the end of 2023 to 53,448 at the end of 2024.
At the NCCU’s 15th Annual General Meeting (AGM) at the Goodwill Parish Hall on Wednesday, he remarked, “We are pleased to report an increase in membership from 52,628 at the end of 2023 to 53,448 at the end of 2024, an addition of 820 new members, representing a 1.56% growth rate.”
“The continued growth and success of the National Co-operative Credit Union Limited (NCCU) would not be possible without the unwavering support and commitment of our dedicated members,” Paul acknowledged.
On behalf of the NCCU he welcomed its new members and encouraged them to take full advantage of the company’s diverse range of products and services designed to meet their financial needs.
Furthermore, Paul said Member Share Capital experienced significant growth, increasing from $7.1 million at the end of December 2023 to $7.5 million as of December 31, 2024.
“This increase of $0.39 million (4.72%) is a testament to the trust and confidence our members place in NCCU as their preferred financial institution,” he revealed.
He continued, “The National Co-operative Credit Union has achieved significant growth in its Loan Portfolio, increasing from $534 million at the close of 2023 to $580 million as of December 2024.”
This he said represents an impressive growth of $46 million, or 8.6%, over a twelve-month period.
“NCCU has long played a pivotal role in community support and partnership through donations and sponsorships [and] in alignment with our tagline to serve as Your Community Financial Partner, we significantly increased our financial support, doubling the value of sponsorships and donations from $102,789 in 2022 to $204,715 in 2024,” Paul revealed.
He went on to state that these contributions not only enhance the lives of its members and their families, “but also strengthen the bond between NCCU and the communities we serve.”
Additionally, Paul stated that through continued investment in community development, “we reaffirm our dedication to fostering meaningful, lasting impact.”
I want to hear what the UWP’s financial experts have to say about this — Thompson Fontaine, Ibo France, Meme, Juanita, and the “most educated” one among them. If everyone in Dominica is supposedly broke, how exactly did membership increase by 820? Something isn’t adding up. Maybe Skerrit paid McDowell Paul to make that statement.
It is inspiring to see how the NCCU continues to grow and strengthen its community. The steady rise in membership feels like the progress in 99 Nights in the Forest where every step forward reflects trust, dedication, and the power of working together toward something lasting and meaningful.
The significant increase in Member Share Capital from $7.1 million to $7.5 million (a rise of $0.39 million or 4.72%) is a strong indicator of the members’ trust in the NCCU. This growth reflects a solid financial foundation and the confidence that members have in the credit union.
Paul’s statements highlight the positive trajectory of NCCU in terms of financial growth and community involvement. The increases in member share capital and the loan portfolio not only signify robust operational performance but also reinforce NCCU’s role as a trusted financial institution in the community. The doubling of community support further emphasizes their commitment to partnership and development within the community.
People management and the increase of members also become heavier and require higher levels of management. Do you think the same as me?
I want to hear the UWP financial wizards on this one.Thompson Fontaine,Ibo France,MEME,Hmmmmm,,Juanita, and the most educated Him.Everybody in Dominica BROKE how is it that membership in creased by 820?.Maybe Skerrit pay MC Dowill Paul to make that statement.
@Clown
You are a shameless buffoon. So you think its because of Skerrit. Your dumb idiot, why can’t you go to school.
When you dont understand what you read stay quiet. Sac sot!
Do you understand what you read, lol. An increase in Membership of the National Cooperative Credit Union Ltd (NCCU), shows that people got extra money, and so they can put aside in savings which they do at the NCCU taking up membership, if you do not have extra money after you pay expenses them you cannot save. This data from the NCCU can indicate some form of economic measure. You are so blinded by your political partisan beliefs and never have nothing sensible to say or make an informed opinion, but instead quick to call people names, so long.
You must be a clown
As people get older. They open accounts. So of course they gonna see a rise in members
Plus NBD keep taking money out of peoples accounts. So peeps shutting accounts and moving to NCCU. You really doh have no sense