Aylmer Irish, CEO of the NCCU touts the benefits to members, from amalgamation of 6 credit unions, to form the National Cooperative Credit Union (NCCU). He advised that the initiative started in 2008 with executive members of the Vieille Case, St David, St Paul, La Salette and Roseau credit unions, but the amalgamation took effect on November 1, 2010, and gave rise to the NCCU, which then made up the big five.
Irish added that in 2014, the Castle Bruce Cooperative Credit Union approached the NCCU to join the financial institution. In January 2016 its assets and liabilities were transferred to the NCCU, creating the Big Six. That amalgamation ensured that the movement remains alive and well, and members who were unable to access certain services, are now able to do so, because of the pulling of resources.
Irish continued to highlight benefits such as access to various branches throughout the island, and easy access to high level staff members and qualified staff members that are now available to the entire institution. Irish added that the institution is now able to purchase in bulk, and thereby spread costs across the NCCU.
He further noted that the amalgamation also led the NCCU to achieve another milestone, as its assets have exceeded the half of a billion-dollar mark, thereby making it the largest credit union in the sub region, even as it is continuing grow and do well.
However, he assured members that notwithstanding its growth, and irrespective of the level of deposits, or savings balance; there is no extra charge to them, and access still remains available for all members”.
Current and past news stories.