BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
ANNUAL REPORT 2014
8
PRESIDENT’S MESSAGE
Dear Members,
I am pleased to report that with your continued patronage
and our member-focused strategy, your Credit Union and its
subsidiary CAPITA Financial Services Inc. returned a commendable
performance again this year in the face of what can be deemed
turbulent times.
We, collectively as an institution and as individuals in our respective
households and social circles, must demonstrate an unwavering
level of resilience and resolve as we chart the path forward.
Your Credit Union has and intends to continue demonstrating
leadership in this regard.
The effects of the recession have threatened our way of life as
we know it, presenting unforeseen challenges to households and
more specifically to our members. Consequently, it was a fiscal
year in which we had to carefully navigate our cherished institution
through turbulent waters and with some uncertainty but also
some opportunity ahead. We will continue to proceed with a
mixture of caution and calculated ingenuity to buffer the impact
of the prevailing conditions while charting this path forward.
On a personal level, my fellow Board members and I empathize
with those affected by recent retrenchment measures. In response,
we have conceptualized a number of support initiatives, and
increased our outreach efforts, through a variety of channels such
as our website, telephone hotline, Contact Centre and Financial
Education Unit. In addition, we propose to increase traditional
appropriations to cushion the impact of the existing recessionary
economic period.
The Board is acutely aware of the many alternative financing
options which are available in the marketplace but we are also
confident that no other financial service provider exists for the
special purpose of catering to your financial needs in the way this
Credit Union does.
We give the assurance that the Credit Union will continue to
provide sound and creative solutions to combat the challenges
you may experience during this difficult period. We will exercise
flexibility, good governance and wise decision-making practices in
the execution of our member-focused strategy. These will serve
well our critical success factors for sustainability.
Moments like these caused us to engage in a measure of
introspection, as we place in perspective the reality of this our
expanding, indigenous financial institution. Forty-four years on, we
remain deeply indebted to and acknowledge the contribution of
our many pioneers, various elected committees, the representatives
association, management, staff and last but by no means least,
you, our members for your unwavering and committed loyalty and
patronage over the years.
I take this opportunity to place on record the Board’s sincerest
appreciation for the invaluable service of retiring directors Bro.
Cedric Murrell and Sis. Paula Byer. Their cumulative wealth
of knowledge and vast experience in their respective fields of
endeavour has enabled them to make inestimable contributions
to this Credit Union.
As Chairman of the Board and an outgoing director, I also wish to
express my profound appreciation and gratitude for being granted
the privilege of serving this esteemed institution at this level.
It was indeed an inimitable pleasure.
President
Bro. Glendon Belle
