National Cooperative Credit Union now official after merger

A section of the audience at the launch of the National Cooperative Credit Union.

Four credit unions on the island have been formally amalgamated with the Roseau Cooperative Credit Union to form the National Cooperative Credit Union (NCCU)

A special ceremony was held to mark this “historic” achievement last night at the Roseau branch office.

The Vielle Case, St Paul, St David, La Salette credit unions have merged and are now in a better position to conduct their financial transactions, President of the NCCU Dexter Ducreay said at the ceremony last night.

“The amalgamation has enabled our members to perform transactions at any of the five branches. I am pleased to report that our members have seen the benefit of originally registered at one branch but can now do business at any of the five branches. It is therefore hoped that cooperators will further take advantage of the benefits of amalgamation,” he stated.

Ducreay said that the members of the amalgamation can also enjoy two new services from the NCCU. “I want to inform our members that among our ray of services, we have added two new ones. Number one, we’ve signed an MOU (Memorandum of Understanding) with the Central Cooperative Credit Union. That MOU enables our members to perform limited transactions at Central Credit Union. As you know, Central Credit Union has two branches – one in Goodwill and one in Portsmouth,” he stated.

“So we’re targeting that new service, in particular the members of the Vielle Case branch. They can now go to the central branch in Portsmouth and withdraw. Number Two, members can now purchase LIME top-up using the CUCALL service,” he said.

Meanwhile, Minister for Community Development Gloria Shillingford said that the amalgamation marks a truly significant milestone in the life of credit unions in Dominica. She highlighted that the amalgamations brings the new NCCU to a membership of over 36,000 members and assets of over $330 million.

Representative of the Vielle Case Branch Cletus Joseph said that the amalgamation did not come without its challenges.

NCCU awards were presented to a number of persons who contributed to the movement over the years. Recipients included Hudson Savarin (deceased) and Kenneth Richards.

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35 Comments

  1. 123
    November 28, 2010

    As an employee of the old RCCU, I hope this merger achieves the aims it has been set up for. I hope that the next step is to forge closer links to the central cu, if these two entities can join forces in the near future it will give the CU movement the kind standing it would need to seriously compete with the banks and provide quality service to its members. But they also need to lobby the Gov’t to enact modern legislation that does hold back CUs, as the current Co-Operative Societies Act of 1996 does. GOD BLESS THE CREDIT UNION MOVEMENT

  2. interesting
    November 27, 2010

    I’m going to miss my relationship with Vieille Case Credit Union…….you guys were great. Hope that kind of service does not change now that you/we are in the “big” league. Congrats.

    • mouth of the south
      November 27, 2010

      of course it going to change lol,,,,they rubbing shoulders with bigboys now,,,,they apart of the r.c.c.u family eh,,,,,,,so u know is nice haircut n victoria secret style that going to go there

      • 123
        November 28, 2010

        why are you making such ridiculous statements? The is no more rccu, its a new entity. engage your brain before typing

        • mouth of the south
          November 28, 2010

          well if u were following my posts on d.n.o u’d know i engage my brain,,,,,well we may be strangers online so u don’t know me,,,but lemme tell u,,,i don’t get uptight bout life,,,,we are here so lets be happy n have fun,,,,,crack a joke,,,,crack more jokes if needs be,,,release a stress,,,,now if u had go with the flow n add sumting witty then on this sunday morning we would have started someones day in high spirits but u wanna be uptight n take tings serious,,,i know who i am,,,i don’t type in perfect english cuz i don’t need to,,,,so peeps doh come n check for typo on d.n.o but i got 1’s in cxc including english,,,,,i mean duh have some fun u n i will leave a merry and long life,,,,we all know there’s no more r.c.c.u but lets be real,,,thats the family isn’t it,,,r.c.c.u is going to pass on their work culture onto all the smaller ones believe that,,,,r.c.c.u is high class service n seen,,,nothing wrong with that but at that point these smaller ones will lose focus and touch with there local base,,,,,employees gonna start having big egos believe that,,,,salaries are gonna raise so is more style n stunting believe that also,,,,so the blogger ‘interesting’ was concerned bout these loss of touch n focus that would bring,,,,,the smaller ones are not gonna operate like the same next door institution again,,,,u won’t be able to march to the managers office n have a chat,,,,all these connections are vital to people living in rural areas,,,,there manager may not have final say,,,,its now in the hands of them big boys in roseau cmon,,,,u think r.c.c.u board is gonna play second or third fiddle in the n.c.c.u,,,,,u would be well foolish,,,see how mr ducreay is already the president of the n.c.c.u,,,,u think they gonna drive all the way to vielle case to see the needs of the people first hand,,,n if they do how often??? there won’t be no face to face meetings but teleconferencing,,,,,so all in all n.c.c.u will be similar to a banking institution,,,,,so have some fun on this sunday morning n don’t be so uptight

    • Anonymous
      December 3, 2010

      Things wont change we are the same staff members

    • Anonymous
      December 3, 2010

      :-? we a one big family and it remains so

  3. Chou Poule
    November 27, 2010

    Well done amalgamating credit unions. This certainly was and is the right move for La Salette. No regrets.

  4. PAIN
    November 26, 2010

    Hope the merge will work better and members will benifit more.

    Mr Ducreay took some time out to explain to members the MOU signed with the CCCU.

    but the Prime minister of Dominica refuses to eplain to Dominicans the MOU treaty signed with China and Venezuela!

    • Truth, Justice, Love, Peace and Unity
      November 27, 2010

      When are you going to leave the Prime Minister out of what which is not relevant to his Position? I do think it is time to stop this bashing of the Prime Minister. It does you no good and it does Dominicans no good. In addition, your bashing is ungodly. Furthermore, have respect for him and his status.

    • mouth of the south
      November 27, 2010

      i see those with the disease of skerrititist launch an attack on u wii lol!!!

    • USA
      November 27, 2010

      must everything be about the PM. He is the leader like or not get over it.

    • hj
      November 27, 2010

      everything is not about politics. Please get a life!

  5. kool
    November 26, 2010

    :) :-D :wink: :lol: :-P :mrgreen: :-o

  6. Mouth Fool
    November 26, 2010

    Isnt the name national credit union a bit presumpteous, Five credit unions cant constitute the Nation, arent the other fragmented crdit unions part of the Nation.Time will tell
    Do all the other Credit Unions demand that their members buy the $50.00Shares which is of no use to anyone

    • 123
      November 27, 2010

      Do you understand why that they introduced the $50 permanent shares? The old St Alphonsus CU was the first to introduce the concept. According to international accounting rules they were required to make their share capital more permanent, under the previous way they had it anyone could reduce shares daily. That was not in keeping with accounting rules. If a member doesn’t want to be a member, you can sell your shares, same way it is done in any other public company. So research before making STUPID comments.

    • Anonymous
      December 6, 2010

      national with the hope that others will fall in line dear. thats thinking ahead

  7. cherfond
    November 26, 2010

    Congratulations to the five (5) Credit Unions for their initiative and making that bold step for the development of our people and the economy on a whole. Hats off to all involved.

  8. massacre
    November 26, 2010

    yeah join up all the other credit union to better rip hardworking people off some more

    • Truth, Justice, Love, Peace and Unity
      November 28, 2010

      Hey there:

      I am extremely familiar with Massacre. What are you talking about? Credit Unions have served the people and also the poor ones much better than the banks ever did. This is why Credit Unions were established in the first place.
      Should you have a complaint after the amalgamation you reserve the right to contact the authorities. This is how we try to make Dominica/the world, a better place to live, work and conduct business.
      Your constructive views are important. I do hope that they will be welcomed should you inform the Credit Union accordingly. Therefore, take a stand for the betterment of Dominica, the village of Massacre and do not be negative. Nothing beats a failure but a trial. Be positive.

    • Truth, Justice, Love, Peace and Unity
      November 28, 2010

      I forgot to mention that Massacre and its people are very dear to my heart. I wish nothing but the best for them.

  9. Truth, Justice, Love, Peace and Unity
    November 26, 2010

    I simply state: Great news and for Dominica! I endorse progress.
    Dominica is moving on in all aspects. It takes visions, effort, patience and time of genuinely concerned Dominicans who view a different, new and progressive action to accomplish this. May no one think otherwise. They do not have to be politicians. God has given everyone a mind, brain and intelligence no matter what their status. In time, and especially as we attain adulthood with certain experience we do recognize that changes “for the better” must be implemented.
    Keep on moving on for the betterment of Dominica and Dominica nationals. In so doing, Dominica and its nationals are the beneficiaries for the present and in the future. My prayers and encouragement are with you.
    God is good and great! God who loves us all will assist Dominica and its nationals.
    Our Lord Jesus Christ said: “Do not fear for I am with you always.”
    God bless all those who were expended time and effort to accomplish this. It is an excellent achievement.
    Always do good and God will bless and grace those who do and multiply their efforts.
    Keep in mind whatever you do, do it lovingly, gracefully and peacefully. God is pleased with these virtues and will grant His godly wishes in His own good time.

  10. DRASTIC
    November 26, 2010

    :mrgreen:
    :lol: :-D :) 8)

  11. villager
    November 26, 2010

    is the st david credit union the castle bruce on? any one answer

    • A MERGER SUPPORTER
      November 26, 2010

      St David’s Credit Union is in RIVIERE CYRIQUE

  12. jane
    November 26, 2010

    i will die central central all the way

    • 123
      November 26, 2010

      then die

      • disgruntled
        November 27, 2010

        wat u doing alive still. stuips. y some Dominicans so foolish

  13. j
    November 26, 2010

    i hope the poor members of the small credit union that wasnt BIG enough to have directors will still be able to access small loans and not those BIG loans they keep talking about.

    • Anonymous
      December 6, 2010

      dont understand .all credit unions still have there branch managers and small loans are still granted to members.we look at the ability to pay

  14. ruhtra
    November 26, 2010

    what about the other credit unions? If this is national, why have they not joined?. Are we, members of the joint venture going to get dividents according to frofits?

  15. simple mind
    November 26, 2010

    I salute NCCU,the small can’t drag the big, but the big can carry the small…since the establishment of the NCB,has there been anything of this sort?

    • mouth of the south
      November 26, 2010

      central did it b4 nccu,,,,central is the amalgamation of st. alphonsus and portsmouth credit unions,,,,rccu was supposed to join central but they figure,,,uh uh we too big to let them small boys there put us in dere ting,,,,so they went n did there own

  16. fire in the hole
    November 26, 2010

    it would have been three if it wasn’t for the stubbornness n arrogance of the president of the second largest

    • Anonymous
      December 6, 2010

      in this world we need to join or come in support of each other. lets join hand to form one national credit union. marigot, central, woodfordhill and the other we a already missing you

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