While celebrating Credit Union Week, President of the Board of Directors for the St. Patrick’s Co-operative Credit Union (SPCCU), Mr. Eugene Skerritt has expressed that ongoing efforts are underway to comply with several financial regulations.
As such, Mr. Skerritt said his organisation is working closely with regulations to enforce the continuous process to implement recommendations by the Financial Services Commission.
In a ZJB report Skerritt said: “These recommendations include the updating of members’ profile and the strengthening of compliance formation in the next few months. Ongoing efforts to be compliant will be intensified,” Skerritt explained.
The responsibility of the members during the process would include the provision of photo identification (ids), verify and update their current addresses, respond to the published list of abandoned properties, update their accounts, purchase more shares; and encouragement to make a greater effort to attend the AGM. The members were further urged to utilise the facilities provided by the Credit Union.
The Board President made the remarks to Credit Union Members and representatives from other financial institutions, last Thursday, in an address which marked International Credit Union Day.
In highlighting the opportunities, he said, “whether the members are rich or poor, from the villages or the cities at community at peace or conflict. The Credit Union are helping them create new opportunities everyday with access to safe or places to save their money, and secure affordable loans.”
He added that, members from all walks of life are able to make significant strides in their development including starting businesses, building homes and educating their children.
He also testified to the loans his parents were able to access and financing their children education, as members of the Credit Union.
