{"id":323718,"date":"2024-06-04T11:24:54","date_gmt":"2024-06-04T15:24:54","guid":{"rendered":"https:\/\/dominicanewsonline.com\/news\/?p=323718"},"modified":"2024-06-04T11:24:54","modified_gmt":"2024-06-04T15:24:54","slug":"nccu-implements-institution-wide-changes-sees-robust-growth","status":"publish","type":"post","link":"https:\/\/dominicanewsonline.com\/news\/homepage\/news\/nccu-implements-institution-wide-changes-sees-robust-growth\/","title":{"rendered":"NCCU implements institution-wide changes, sees &#8216;robust growth&#8217;"},"content":{"rendered":"<figure id=\"attachment_323721\" aria-describedby=\"caption-attachment-323721\" style=\"width: 680px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-323721\" src=\"https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2024\/06\/NCCU-Roseau.jpg\" alt=\"\" width=\"680\" height=\"510\" \/><figcaption id=\"caption-attachment-323721\" class=\"wp-caption-text\">NCCU Roseau<\/figcaption><\/figure>\n<p>President of the National Cooperative Credit Union Ltd (NCCU), McDowill Paul is reporting an increase in the company&#8217;s membership from 51,734 at the end of 2022 to 52,628 at the end of the year in review, an increase of 894 new members or (1.72%). He presented the annual report for the fiscal period under review January 1, 2023, to December 31, 2023,\u00a0 providing its achievements, operational highlights, community involvement, and strategic direction.<\/p>\n<p>The NCCU held its 14<sup>th<\/sup>\u00a0Annual General Meeting (AGM) at the Castle Bruce Secondary on Sunday.<\/p>\n<p>\u201cIt is undeniable that without our dedicated and loyal members who continue to make the NCCU their financial partner, our institution would not be where it is today,\u201d he said. \u201cWe welcome our new members to the NCCU family, and we implore that you take advantage of the many products and services tailored specifically for your needs.\u201d<\/p>\n<p>In addition, Mr. Paul said the Member Share Capital grew to $7.1 Million as of December 31, 2023, from $6.6 Million at the end of December 2022.<\/p>\n<p>\u201cThis reflected an increase of $0.5 Million (7.58%), which signifies the confidence that the membership has placed in NCCU,\u201d he stated.<\/p>\n<p>Furthermore, he said, it has been a year of excitement highlighted by the official launch of the new NCCU brand and logo.<\/p>\n<p>\u201cThis is not just a logo change but an institution-wide change where we aim to take our rightful position as the leading financial institution in Dominica,\u201d Mr. Paul stated.\u00a0\u201cWe began this journey in the year by further transforming the NCCU into a member-oriented organization, providing you, our members, with\u00a0the change that you so desire.\u201d<\/p>\n<p>He continued, \u201cThis includes an even stronger focus on offering excellent products and efficient services throughout all our seven (7) branches across Dominica.\u201d<\/p>\n<p>However, he indicated that despite a challenging and competitive financial environment, the NCCU has demonstrated resilience and achieved significant milestones throughout 2023, which has translated to a solid performance for the year under review.<\/p>\n<p>Meanwhile, Mr. Paul pointed out that the NCCU strategic plan which was completed in 2023 and subsequently approved in 2024, focuses strongly on providing efficient member services.<\/p>\n<p>\u201cThe Member Care Centre was officially opened in 2024 as one of the initiatives designed to provide prompt and efficient attention to member queries [and] throughout the year, we took action towards the manifestation of this initiative,\u201d he explained. \u201cIn addition, we continued to focus heavily on the provision of innovative financial products as we successfully launched the Beyond the Mortgage credit facility and continued the seasonal \u2018Get It Now\u2019 loan and \u20185% Snap Mortgage\u2019 credit facility.\u201d<\/p>\n<p>Mr. Paul further explained that their\u00a0strategic initiatives have led to an unprecedented growth of $77 Million or 16.8% in our Loans Portfolio, the highest increase in the Loans Portfolio since the existence of the NCCU.<\/p>\n<p>In conclusion,\u00a0\u00a0he said the year 2023 has been a period of substantial progress and notable achievements, \u201c for our Society\u201d. And despite the challenges posed by the external economic environment, its strategic initiatives have propelled the NCCU forward, \u201cand we have seen robust growth and improved operational efficiency across our Branches. \u201c<\/p>\n<p>He added that the NCCU\u2019s focus on innovation and commitment to excellence continues to drive its competitive edge, ensuring that the organization not only meets but exceeds the expectations of its members.<\/p>\n<p>\u201cAs we look ahead to 2024, we are well positioned to capitalize on new opportunities and navigate any challenges that may arise,\u201d Paul noted.<\/p>\n<p>He said\u00a0the Board of Directors and Management Team remain committed to upholding the highest standards of governance and accountability, with a clear focus on sustainable growth and member value creation.<\/p>\n<p>&#8220;Our financial health remains strong, with significant gains in key performance indicators, reflecting the effectiveness of our adaptive strategies and the dedication of our members,\u201d he stated.<\/p>\n","protected":false},"excerpt":{"rendered":"President of the National Cooperative Credit Union Ltd (NCCU), McDowill Paul is reporting an increase in the company&#8217;s membership from 51,734 at the end of 2022 to 52,628 at the end of the year in review, an increase of 894&#8230;","protected":false},"author":13,"featured_media":323721,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","footnotes":""},"categories":[235,9],"tags":[],"class_list":["post-323718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-homepage-carousel","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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