DOMLEC lauds merger of credit unions

Colin Cover

The Dominica Electricity Services Limited (DOMLEC) has lauded the merger of credit unions here as one which Caribbean leaders should emulate.

Five credit unions amalgamated into the National Cooperative Credit Union last year.

This not only speaks well for the credit union movement here but also for regional integration, according to Colin Cover, DOMLEC’s General Manager.

He was speaking Wednesday at the launch of a joint initiative of the DOMLEC and NCCU on Wednesday.

“We could look at collaboration and cooperation rather than just competitiveness. I certainly think that the credit union movement in Dominica has sent a signal which I hope, even our political leaders will look at and emulate,” he emphasized.

Officials of the company have said that the amalgamation will strengthen the credit union movement at a time when the cost of doing business is rising. Government has welcomed the credit union merger as a significant milestone in the life of credit unions on the island.

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  1. OLT
    August 5, 2011

    Prepaid, Pay-as-u-go, when electricity comes to that level as a big milestone, it means DOMLEC is a failure.

  2. 1979
    August 4, 2011

    the leaders know that divided the people will have less power, and so only a leader who wants to empower the people will envision the merging of the region….it is evident that our leaders main requirement is to preserve their power over the people. and that is as simple as it is….

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