News
Presenting NCCU's Executive for the Year 2018 - 2019
Thursday, 12 July 2018

PRESS RELEASE

 July 9, 2018

 NCCU ELECTS EXECUTIVE OFFICERS  FOR THE YEAR 2018-2019 

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The Board of Directors, Supervisory and Compliance Committee  and the Credit  Committee of the National Cooperative Credit Union Ltd (NCCU) met recently to elect executive officers for the Year 2018 - 2019.

Josephine Dublin continues to head the Board of Directors as President supported by Sonia Williams who was elected to the office  of Vice President. Candia-Carette-George was re-elected to the office of Secretary and Gerald Fregiste was elected as Treasurer.

The Board is entrusted with the general direction, control and management of the Society in keeping with the Co-operative Societies Act No. 2 of 2011 and the Co-operative Societies Regulations S.R.O. No. 26 of 2001.

 

President, Josephine Dublin

At the meeting of the Supervisory and Compliance Committee, Evadney Esprit was re-elected to head  this Committee as Chairperson. She will be assisted by Secretary, Hannah LeBlanc-Pierre.

   Two officers on the Credit Committee were re-elected. Cherika Lockhart-Hypolite and Keturah Deschamps will continue to coordinate the Committee's work and activities as Chairperson and Secretary respectively.

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The NCCU Board of Directors and the Committees each  consist of no more than thirteen (13) members who are elected at the annual general meeting.

 

Click here to view the composition of the Board and the Committees

 

 

 

 

 

Cherika Lockhart Hypolite and Evadney Esprit, Chairpersons of the Credit Committee and the Supervisory & Compliance Committee respectively.   

 

 
Theresa Royer Is Honoured by the Vieille Case Branch
Wednesday, 04 July 2018

On Saturday, June 30, 2018, the NCCU Vieille Case Branch honoured former manager, Mrs. Theresa Gustave-Royer, for over 30 years of dedicated and distinguished service to the credit union movement, 7 of which were spent with the NCCU.

Dubbed, "A Celebration of Success", the event was elegant, inspiring and befitting a credit union stalwart and giant.

Mrs. Royer was also recognised by NCCU at its 8th AGM on June 28, 2018.

Thank you Mrs. Royer. We wish you a happy retirement, good health and longevity.

 

Click here to view celebration photos!
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NCCU LTD 2018 High Schools Financial Literacy Seminar
Thursday, 28 June 2018

The National Co-operative Credit Union Limited (NCCU LTD) 2018 High Schools Financial Literacy Seminar was held on Tuesday, June 26th, 2018, at the PSU Conference Room from 10:00am to 12:00pm.

Forty-seven (47) students attended from the Orion Academy, the Dominica Community High School and the Social Centre Youth program along with 6 teachers.

The seminar was informative, practical and interactive and introduced the students to basic financial management and the NCCU Ltd. The sessions were facilitated by NCCU staff members Mr. Curth Charles, Chief Financial Officer and Ms. Michelle Bellot, Accounting Officer, Acting, St. Paul Branch.

Among the topics covered were financial behaviour, wants vs needs, goal setting, budgeting, saving, borrowing and making the right choices.

The students also received information on NCCU Ltd, joining the Credit Union and products and services for youth. Both students and teachers expressed gratitude for NCCU LTD's involvement with youth.
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NCCU Reports Growth in 2017; Remains Strong
Thursday, 28 June 2018

PRESS RELEASE

June 26, 2018

The cooperative business model has once again helped the National Cooperative Credit Union Ltd (NCCU) turn in a commendable financial showing for the Financial Year 2017.

When the Society's membership gathers at the Goodwill Parish Hall on Thursday, June 28, 2018, at 5 pm for the 8th Annual General Meeting, the Board of Directors will report overall growth and that "despite the ravages of Hurricane Maria" NCCU "remained strong".

Total assets climbed  to $588,069,125 as at December 31, 2017 com-pared to $518,315,489 in the previous year, an increase of $69,753,276 or 13.46%, fueled by an exponential increase in members' savings.

The Society recorded  a commendable, but lower, net surplus of $2,850,988 for the financial year ending December 31, 2017 as a result of a reduction in interest income following Hurricane Maria. At the end of August 2017, net surplus of $4,411,494 was recorded an increase of 8.79% or $356,357 over that of 2016. "The Credit Union was on course to celebrate the biggest year since the amalgamation in 2010 when the hurricane struck".

Other notable achievements for the NCCU in 2017  were the increase in membership of 2,853, driven by the transfer of 1473 members from the South-Eastern Cooperative  Credit Union, and an increase in Member Share Capital by 13.72% or $620,100 to $5,140,440.  As at December 31, 2017, NCCU's Total Equity stood at $67,169,711, an increase of $3,857,410 or 6.10%

Despite the challenging operating environment, operating costs did not increase significantly  and interest expense  was carefully managed declining by 3.2%.

Sharing our success with members and our communities remained  a priority in 2017  in keeping with Cooperative Principle No.7 -- Concern for Community. Fourteen scholarships were awarded to secondary school students and a large number of activities, needs and causes were supported. Significant assistance was provided for medical care.

The NCCU remains a viable and successful financial cooperative.  It  owes its continued success to the commitment of its members  to utilizing all the services and products offered to grow the Society.   We are indeed grateful for their trust and loyalty.

 

For further information contact:   

Mr. Aylmer A. Irish

Chief Executive Officer

255-2165 and 275-2549

 

 

 
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