WHILE SEVERAL BUSINESSES across the island have felt the pinch of harsh economic times, the Barbados Public Workers’ Cooperative Credit Union Limited (BPWCCUL) is reporting growth of more than ten per cent in its asset base.
BPWCCUL board of directors president Terrol Inniss, speaking after a service at the Church of the Nazarene, Bank Hall, to mark their 41st anniversary, revealed that the union’s 2010-2011 financial year had been a very good one, showing growth in all areas.
Inniss said while growth through membership had not been as robust as years before, the ten per cent growth in its asset base “was outstanding in these financial times”.
He attributed the organization’s growth to the great service it had been providing to their customers, many of whom had been “breaking down the doors seeking mortgages”.
“The mortgages are not stopping. . . . As the late Prime Minister David Thompson pointed out, Barbadians find it extremely important to own a piece of the rock and we have been providing great rates for them,” he noted.
Highlighting that the island’s largest credit union had been voted number one among credit unions and banks by the National Initiative for Service Excellence, Inniss said the credit union had also been putting systems in place to accommodate some members who had been facing difficult periods.
“We are working with them to make sure that we do the things that would help them continue to survive in these tough times. We have found that by working with our members, it has contributed to the hallmark of our success,” he added.
The BPWCCUL will continue to celebrate its month of events with the Olive Trotman Memorial Lecture on May 20 at the Lloyd Erskine Sandiford Centre at 8 p.m. (CT)
