BUSINESS MONDAY: GOOD PERFORMANCE

THE BWU Co-operative Credit Union Limited (BWUCCUL) is reporting another year of growth.

That performance was laid out on Saturday at the BWUCCUL annual general meeting at the Lloyd Erskine Sandiford Centre.

In a message, President Dalton Medford said that the performance was commendable, especially when one considers all that transpired in the Barbados economy and globally at the height of COVID-19.

Medford reported that during the period under review, the Credit Union achieved a surplus of $2.7 million, assets at the end of the reporting period were $184.4 million and membership grew by 1,083, bringing overall members of the body to 26,934. Those additional members contributed $1.3 million in deposits.

Medford said as well that they were able to move more of their services online.

According to him, “We can now facilitate online membership, Debit Mastercard online applications, as well as member information updates.” In the coming months, he promised, “You will be able to apply for your loans and other services online.”

He is convinced that the new debit Mastercard opens a world of e-commerce possibilities for their members as they can receive payments directly to their cards from websites such as PayPal.  

“We are ensuring that we are compliant in both local and international compliant standards and that is why we continue to ask you, the members, to update your account information,” he added.