The acquisition of CLICO Holdings Limited, rebranded as CAPITA Financial Services, will lead to great things for the Barbados Public Workers’ Co-operative Credit Union Limited (BPWCCUL).
BPWCCUL?board president Terrol Inniss has told BARBADOS BUSINESS AUTHORITY that within the next five to ten years, if all things go according to plan, it could open a second CAPITA Financial branch in another Caribbean island.
CAPITA has a branch in St Lucia which is expected to be relaunched next month.
Inniss, who revealed the credit union was viewing the takeover as the one acquisition that could benefit the movement as a whole, said in their estimation, CAPITA’s investments would be “the flagship of the movement”.
He said the great news that CAPITA Financial was “bringing with it a company in St Lucia” meant that the BPWCCUL could also now offer services in that country.
“For all those financial services that we want to do as a movement, we feel CAPITA will be the engine behind those and as it brings with it a company in St Lucia, we can offer services there as well, so you can say that the BPWCCUL is now across the Caribbean.”
Noting that the acquisition led to the saving of jobs, protection of assets and more for CLICO, and a chance for further opportunities to improve sustainability of the credit union, Inniss said CAPITA would be extending its services, “moving through the Caribbean one island at a time”.
“The BPWCCUL is pleased to announce that the doors have been thrown open and we are willing and will welcome all the investments,” Inniss said. (CT)
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