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Saint Lucia Observes 74th International Credit Union Day


by Germina Hippolyte

Saint Lucia joined 86,451 credit unions in six continents in 118 countries worldwide in commemorating the 74th anniversary of International Credit Union Day on Oct. 20.

The 2022 theme is “Empower Your Financial Future with a Credit Union”.

Hon. Emma Hippolyte, Minister responsible for Commerce, Manufacturing, Business Development, Co-Operatives, and Consumer Affairs, in her address to the nation, urged Saint Lucians to get acquainted with the benefits of being a credit union member.

“If you are not yet already a member of a credit union, I urge you to seek out these themes which boast the importance of one and every type of co-operative enterprise. I am calling upon all Saint Lucians to make it your duty to empower yourself with some knowledge on the co-operative model, and on the various types of co-operatives such as credit unions. While you are surfing the web, I urge you to google co-operatives with the interest of membership, if only to identify with the model’s advantages, achievements and potential to restore our world.”

The honourable minister recognized and thanked Saint Lucia’s credit unions for the compassion displayed to members during the height of the COVID-19 pandemic.

“We thank you for the designing and execution of loan demand packages that assisted our Saint Lucian people during the COVID-19 pandemic. Your moratoriums and loan rescheduling resulted in an increase demand for credit union loans. Hence, the Saint Lucian Credit Union sub-sector featured prominently within the CCCU report as executing a successful loan strategy during COVID-19.

“Our credit union sub-sector recorded the highest demand for loan services within the region during the period 2020/21. This demonstrates that the membership has confidence in their credit union’s ability to empower their financial future.”

International Credit Union Day was first celebrated in 1948 to raise global awareness for the credit union movement. The day gives credit unions worldwide a chance to celebrate and spotlight the achievements of the credit union co-operative model.

SOURCE: Government Information Service

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