19 Jul

The St. Kitts Co-operative Credit Union continues to offer benefits to its membership

The St. Kitts Co-operative Credit Union Limited held its Annual General Meeting on Tuesday 22nd June 2010 at the Ocean Terrace Inn. The meeting was attended by a fairly large representation of the membership and several areas were discussed such as the implementation of the new VAT and its implications to the average man.

As part of the Credit Union’s usual initiative to make its Annual General Meeting entertaining as well as beneficial to the membership, the St. Kitts Co-operative Credit Union Limited offered as part of the gift packages a trip to St. Martin with spending money totaling $500.00US. The gifts were presented through a raffle that used the numbers in raffle bags to correspond with the member register numbers. Volunteers were asked for and three brave members came forward to facilitate the raffle. Several members were lucky winners but the luckiest member was Mr. Jose Lloyd who won the trip to St. Martin. Mr. Lloyd expressed his joy in winning, and declared that he was indeed a very happy member as he never thought he would win such a prize. Mr. Lloyd also indicated that he would be using his prize very soon and he would ensure that he enjoys his trip.

The institution would like to take this opportunity to congratulate all the members that won prizes at the AGM and to also remind them that the opportunity to win another trip is still possible as the Credit Union is presently raffling a cruise for 2 on the Norwegian Pearl along with 2 return tickets to Miami as part of the package. The ports of call are Dominican Republic, St. Thomas, Tortola and the Bahamas. The monies collected for this raffle will go toward the account called the Disaster Relief Assistance Account which is an account set up to provide relief to members who have experienced a disaster or some illness and have requested assistance from the institution.

The St. Kitts Co-operative Credit Union will continue its efforts to ensure that its membership are shown appreciation on a daily basis as without the membership there would be no business.

15 Oct

International Credit Union Day 2009

BASSETERRE, St. Kitts – INTERNATIONAL Credit Union Day is being celebrated today (Oct. 15) the world over, and the Federation’s credit unions are using the chance to reflect on significant growth despite challenging circumstances.

‘Your Money, Your Choice, Your Credit Union’ is the theme that has been chosen for this year’s event.

In Nevis, General Manager of the Nevis Cooperative Credit Union Sydney Newton said the institution has witnessed significant growth since its 1972 establishment. He said while the company blossoms in the areas of savings and providing loans, it has had to meet many challenges to consistently remain a safe investment for its members.

“Our major accomplishment is the phenomenal growth of assets from under EC $1 million to now over EC $67 million. Of course, we have seen this in the areas of savings and the ability to provide loans for education, business and housing.

“The major challenge is maintaining sound operation in the light of the constant changes in financial systems, both from changes in regulatory framework and crises that from time to time arise,” he told SKNVibes.

Newton said it is critical to change with the time, taking advantage of technology. To this end, the Nevis Cooperative Credit Union now uses its website to disseminate information and to educate the public; offers internet banking; and boasts of a credit card service for the convenience of its customers.

The financial institution is gearing up to launch its international debit card service to compliment the launch of the junior cooperatives project in the schools, a move he suggests would be “in the best direction to serve our members better”.

In St. Kitts, a similar success streak has been recognized during almost three decades of service by the St. Kitts Cooperative Credit Union (SKCCU).

General Manager Sheryl Bass indicated that one of the major achievements of the credit union is improving the quantity and quality of services amid uncertain economic conditions.

“The SKCCU, like all other financial institutions, would have its ups and downs, but after 27 years we have weathered the storms well and we could not have done this without the unwavering commitment of our members.

“Credit unions are often referred to as sleeping giants, but I think we are realizing our potential as we try to cement our place in the financial services sector,” she stated.

During a recent interview with SKNVibes, Bass informed that one of the greatest challenges for the institution has been surviving as a small business in the face of what she described as “intense competition”.

However, she remains optimistic that that the future of credit unions is on a favourable path.

“I think we have a very bright future ahead of us. We just launched our credit card service and the Junior Saver’s Account, and we believe they will take off. Certainly we want to work at improving the quality of our service to our members and make sure our quality is second to none,” Bass concluded.

14 Oct

St. Kitts Credit Union donates over 70 books to public library

BASSETERRE, St. Kitts – THE shelves of the Charles A. Halbert Public Library have been refitted with new learning materials for children, thanks to the commitment of the St. Kitts Cooperative Credit Union (SKCCU).

In celebrating this week as Credit Union Week, the financial institution reaffirmed its commitment to the development of education on the island with a donation of over 70 pieces of literature for children and young adults to the library.

For this year’s celebrations the credit union has paid special attention to youth development with its new Junior Saver’s Account, and according to SKCCU General Manager Sheryl Bass, yesterday’s (Oct. 13) donation to the library fits well into the activities of the overall week.

“We thought that in a time like this, when we find our kids need to be doing things that are positive and will build character, that the gifts of books would be an excellent head start for them.

“We thought that the gift would be an excellent idea for the kids and we hope that indeed they would use it so that it can lead to positive lifestyles,” she said in a brief handing-over ceremony held at the library.

Some EC $1500 was pumped into the project, but according to Bass, the investment is a part of the vision of the credit union to advance the lives of its members and the general public at large.

She said, “The SKCCU is indeed committed to the education of our members. As a matter of fact, it’s one of our core principles that we will educate our members and ensure their betterment.”

The gesture was warmly welcomed by the library staff. Librarian Carrolyn Henry expressed her thanks and stated that the donation will bring a new interest in reading for many young lives.

“We are indeed grateful, as we are always in need of fresh material for the kids. When we have new books to encourage them to read more and to encourage their friends to read as well, it is a wonderful thing,” Henry said.

The credit union’s week of activities continues today (Oct. 14) with the official launch of the Junior Saver’s Account and tomorrow with the celebration of International Credit Union Day.

15 Mar

St. Kitts Co-operative Credit Union Launches Two New Products

BASSETERRE, St. Kitts – TWO new services are in line to be launched this week by the St. Kitts Cooperative Credit Union (SKCCU) and a bounty of benefits are anticipated to be enjoyed by the members as a result.

As part of the SKCCU’s special week of activities, company officials have informed that the institution will be officially launching a Junior Saver’s account and a credit card service to its members.

As of tomorrow (Oct. 13), children as young as seven-years-old would be able to live out the adage ‘saving for a rainy day’ by opening an account for just EC $5. There will be no stipulations to deposit or withdrawal, and a 3% interest rate would encourage the juniors to save more.

To keep a heightened level of interest in the new account, junior savers will be awarded for consistent deposits and for reaching their savings goal.

Marketing and Human Resource Manager Julie Charles said the new service is expected to cultivate a spirit of financial discipline, as it would allow them to better manage their money.

“It gives the child a sense of independence and a wider understanding of money management. It’s about building financial confidence in children by teaching them how to save. Plus, we have tied savings to a goal, and once children are educated toward that they would understand if I can save this I can get that,” Charles said.

The credit union official also revealed plans for Thursday’s (Oct. 15) official launch of the company’s credit card service. Charles said that the credit card is necessary and reflects the main objective of the credit union, which is to move its members to higher financial levels.

The new service will be provided through a partnership with the Caribbean Credit Card Corporation and will offer international visa cards to its members.

“This new service will be open to all our members and shareholders. A lot of them would love to have a credit card, but some banking institutions may pose financial barriers for them,” she noted.

Charles concluded that both new services are appropriately launched this week as credit unions around the world celebrate International Credit Union Day on Thursday and the Eastern Caribbean celebrates Financial Information Month.
POST YOUR COMMENTS
Congratulations to the SK Cooperative Credit Union for reaching thus far. The Management and Staff need to be commended. They are extremely helpful, easy to relate to, just considerate. Please continue the good works. You are the first class banking stars of St Kitts. Continue to be the best at whatever you do. Proud to be a member.
Member (14-Oct-09 10:16 AM)
Am so proud of my bank.They are really a people oriented bank.Congrats on these new initiatives.Keep up the good work.
love my bank (14-Oct-09 09:43 AM)
It’s always good to see younger and younger persons interested in money! I guess the savings will encourage the little children to do whatever they can to acquire money and save it. I have an eight year old who only likes to play. It will be good if he stops playing and focus on making money and saving it instead. You are never to young to earn! Thanks a lot Credit Union!
Paper Chaser (14-Oct-09 08:52 AM)

17 Oct

Invitation to prequalify for the Credit Union Scenic Homes

The St. Kitts Co-operative Credit Union Ltd headquartered at Bladen Commercial Development is about to establish a housing project within the Douglas Estate area of St. Peters, St. Kitts.  Contractors in St. Kitts are invited to prequalify for biding for construction contracts. Application forms can be collected, filled out and returned to the St. Kitts Co-operative Credit Union Ltd, Bladen Commercial Development, Basseterre.

 

 

Particulars of the Project

 

The proposed development is approximately 30 acres of land located at Douglas Estate,

St. Peters – It is just above the Carifesta and Clico homes and near to the Ambassy Shores homes.

 

No of House Lots

 

Approximately 192 house lots with sizes ranging from 4,000 sq ft to 8,000 sq ft.

 

Size of homes

 

Approximately 930 sq ft to 2200 sq ft

 

Target market

 

Upper lower, lower middle income to middle-middle income persons.

 

Infrastructure

 

The Credit Union will be responsible for the necessary infrastructure. This includes roads, water, and electricity.

 

The roads are of varying sizes complete with not one (1) but two (2) round-a-bouts tastefully landscaped.  The largest road being the residential collector, is the main road or boulevard with its center island lined with beautiful palm trees.  This is approximately 40 feet wide and allows for traffic to flow on either side.

 

 

Completed application should be returned to the SKCCU Headquarters no later than       November 30th 2008

 

  1. O. Box 713 Wellington Road/New Street, Basseterre, St. Kitts Tel: (869) 465-2272/9014/2571 Fax: (869) 465-9296/4661892/466-8991

E-mail: Stkittscreditunion@yahoo.com                 Website: www.skccu.com