BUSINESS MONDAY: Year of Success

NOTWITHSTANDING the impact of the COVID-19 pandemic, the Barbados Police Cooperative Credit Union Limited (BPCCUL) has had a  successful financial year to March 31, 2021.

This was the thrust of the message which the President, Hally Haynes delivered to members at their recently held annual general meeting (AGM).

“We continue to be confronted by the challenges of COVID 19,” he said.

He remarked that the pandemic has caused “us as a movement to recalibrate how we operate in the financial space, it allows us to re-engineer our operations, and it has given us an opportunity to ensure that we have systems in place for the delivery of services to members.”

Haynes said that local health officials have advised the COVID-19 environment will be with us for a while and therefore it was important that they operate as best as possible in the circumstances.

“The year under review our institution has responded to the needs of our members, which signals the difference between a credit union and a financial institution.”

Stating that the BPCCUL is a people-centred institution, Haynes said they were there to ensure they respond to the needs of members.

The BPCCUL President made it clear that the credit union movement has been playing a critical role to members in the face of COVID. “..Nationally we have put moratoriums in place, we have refinanced  loans to members, have had discussions in place and putting  systens in place to help them during the pandemic.”

While noting that several of their members remained in employment, Haynes said notwithstanding, that they were assisted, something that speaks well of the credit union.

He said members who benefited from moratoriums are now back on stream in paying their mortgages.