Cletus Joseph reflects on Credit Union movement

Cletus Joseph

President of the Dominica Co-operative Societies League Ltd (DCSLL) Cletus Joseph has called on Credit Union members to remember that Credit unions are “not-for-profit financial cooperatives” that provide an effective and viable alternative to other financial institutions whose sole objective is to maximize profit.

Credit union members around the globe are today (Thursday, October 18) commemorating International Credit Union Day and reflecting on the movement’s impact and achievements through the years.

Since 1948, International Credit Union Day has been celebrated annually on the third Thursday of October. Each year, the international event affords the opportunity to recall the movement’s history and promote awareness of and support for the credit union difference.

This year’s theme, “Members Matter Most,” celebrates the important economic and social contributions which credit unions make to their communities worldwide.

“They (Credit Unions) exist to serve their members, providing a safe place to save money and access affordable loans. Dominica is one of these countries, and let me extend greeting and congratulations to our 66,000 plus members,” Joseph said.

Credit unions, he disclosed, are recognized as “a force for positive economic and social change and have provided significant value in both developed and emerging nations.”

“Let us also spare a thought for our members in the Diaspora, while at the same time remember our members/pioneers who have passed on, or who can no longer make a contribution to the movement,” Joseph noted. “To persons on island who have not yet become members, I urge you to do so at the earliest opportunity and become a part of the Credit Union Family.”

International Credit Union Day is sponsored by World Council of Credit Unions (WOCCU) which is the international trade association and development agency for credit unions worldwide, and numerous national credit union trade associations and federations around the world.

Credit Unions serve more than 196 million members in 100 countries worldwide.

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1 Comment

  1. October 19, 2012

    Hmmmmm, that was then,(MEMBERS MATTERS MOST)Credit Union have lost their true meaning.

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