The National Co-operative Credit Union Ltd (NCCU) has recorded an unprecedented net increase of $77 million in its loans portfolio for the year 2023.
Chief Executive Officer of NCCU, Curth Charles made the disclosure while delivering remarks during the launch of its Member Care Centre held at the NCCU conference room on Wednesday.
“As we approach this significant event in the NCCU calendar, I thank God first and foremost for a successful year. And I am excited to share some highlights of our achievements and performance for the year 2023,” he said. “The NCCU recorded an unprecedented net increase of $77 million in our loans portfolio. This is the highest level of growth recorded since the existence of the NCCU.”
He continued, “We have reached seven-hundred and sixty-seven million in total assets with a total membership of over 52,000 members.”
Charles added, “I am also happy to report to you the members, a net surplus of $4.8 million for the financial year 2023.”
He believes that the NCCU’s steady growth over the years is fueled by the trust and support of its members and the innovation of new loan products and services.
“At the NCCU our team always strives to provide innovative financial solutions that [cater] to our members’ needs and [empower] our members in their financial journey and their well-being,” Charles stated. “But it is not just the members that define the NCCU, it is the stories of the countless individuals and their families whose lives have been transformed by the opportunities we continue to provide.”
Furthermore, he indicated that it is the investment in the community, “as your community financial partner that has strengthened the partnership between the NCCU and the Dominican community.”
“It is our unwavering commitment of dedicated volunteers who go above and beyond to serve their fellow men and women who form our massive member base,” Charles noted. “It is the dedication and hard work of our members of staff.”
He went on to state that although the financial institution has been going through a change of management process, the members and staff continue to go above and beyond to ensure that their duties are efficiently performed, “so that you, our members receive excellent services at whatever branch or department that you visit.”
Meanwhile, Charles extended a warm invitation to all members to join the NCCU at its 14th Annual General Meeting (AGM) scheduled to take place on Sunday, June 2, 2024, from 3:00 p.m. at the Castle Bruce Secondary School.
According to him, the AGM serves as a pivotal movement for the NCCU, “Providing a platform for us to reflect on our achievements and engage with our members, where you will be given the opportunity to share your insights and your suggestions and where our president of the Board of Directors, Mr. Paul will outline our vision for the future.”
“It is a time to celebrate our successes, address challenges, and chat about the course ahead,” Charles said.
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