The adoption of by-laws for the new entity, presentation of the financial statements and reports, election of volunteers and the approval of a 6 percent dividend on member shares, were among the highlights when members of the National Co-operative Credit Union Ltd (NCCU) met on May 31 at its 1st general meeting to review the Society’s performance for the two-month period, November 1 to December 31, 2010 .
The meeting was held at the St. Gerard’s Hall in Roseau under the theme, “One Big Family”.
NCCU President Dexter Ducreay reported to the membership that the Society recorded solid financial performance in the two months under review earning gross revenues of $4.67 million and realising total comprehensive income of $654,442. He described this performance as creditable noting that most institutions experience losses for a period of time after a merger.
According to the board of directors’ report, the Society intends to pursue consolidation over the next three years and will focus on streamlining processes, improving inter-branch communication, training staff and volunteers, promotion of services and offering additional incentives to members.
After a lengthy and enthusiastic election process, 38 of the 39 volunteers, who steered the NCCU from November 1, 2010 to May 31, 2011, were returned to office.
Prior to the adjournment of the meeting, a decision was taken to reward members who made the time to attend and participate with a $50 deposit to their accounts.
The NCCU is a financial co-operative and was established on November 1, 2010. It is an amalgamation of the Vieille Case, St. David’s, St. Paul, Roseau and La Salette Credit Unions. The Society has a roll of over 36,000 members and assets in excess of $340M.
i hate that stressful place!
way to go!!!, they tried their utmost to remove the Board and disrupt the meeting, but the members got the power.
$4.67 million & $654,442 but yet still ual gave d guy $1000.00 for his logo and still removed $400.00………movie directors u r not actors!!!!!
you idiot!!!!! the prize was addvertised; he had a choice to participate or not
you expected the prize to be million dollars then…. aa is survivor nor
Well done Mr. Ducreay and the BOD and all the other comittees of the NCCU. Let the team take NCCU to new heights. I no that the haters and their cronies wanted to remove the BOD, but they were shock. I hear that they are in hiding. Their own selfish agenda will not go forward. Power to the people, who re elected the BOD and all the other committees.
Well done Mr Ducrary and the TEAMS. For the people and by the people. Indicates to me the unnecessary need for a GOVERNMENT to intervene adminstratively
POWER TO THE VOLUNTEERS
Well done.
commendable indeed!