The Communal Credit Union launches what it dubs its Emerald Anniversary, marking its 55th year on 19 October, with an interesting twist to reach young people ready to start a business or those whose businesses needs, a boost for success.
The credit union says all members and prospective members are welcome, but the target drive is to get the often most marginalised group in society on board, with a programme for building their financial future. She says, often, the first casualty of a good business idea is financing, so where the credit union can help it will.
The aim is to establish incubator-type businesses, providing financial advice and side by side growth help to all who qualify.
Noting the major milestones achieved thus far, the General Manager, Lydia Courtney-Francis says that Communal Credit Union will continue to upgrade its services and offerings at a time when the movement worldwide is modernising to meet the demands of a changing user group: those who use or prefer mobile financial technology.
Manager at Communal’s newly established Business Centre in Grand Anse, Kimberly Andrews, introduced the loan provision. Sherene Thomas, Marketing and Communication Officer spoke about the ways Communal reinvests in the lives of its members and the community at large. “It is a special moment for The Communal with a few of the inaugural board members still around from that first meeting, 55 years ago on Tyrell Street, now HA Blaize Street, in St George’s.”
- The Credit Union was established on 19 October 1964 and was first known as the St George’s Co-operatives Credit Union
- The name Communal Co-operative Credit Union Limited came with the opening of the membership bond to the State of Grenada in 1996
- Five office locations: Halifax Street, St George’s; Grand Anse, St George; Perdmontemps, St David; Gouyave, St John; Hillsborough, Carriacou
- In 2014, the credit union in collaboration with Grenada Co-operative Bank Limited launched the Communal International Visa Card
- Communal Credit Union has been a part of the Connex ATM Network since 2015
- The first ATM machine for the credit union was installed and launched at the Gouyave branch, St John
- The Communal Main Office is home to two Connex ATM Machines launched in June 2017
- Communal boasts of their e-banking platforms which offers members flexibility in their financial transactions
- The e-banking platform is inclusive to mobile banking for members on the go. The Communal app is available for download on Google Playstore and Apple iTunes
- Launch/Migration to Sharetec from Emortel March 2018 aiding in a more comprehensive financial management system for the credit union
- Opening of Communal Grand Anse Business Centre on Monday, 17 December 2017
- Launch of Tyrell Bay, Carriacou Connex ATM in February 2019.
The Communal Co-operative Credit Union Limited is a financial co-operative. Established in 1964, The Communal offers it members saving investments and lending products for personal or business purposes. The credit union’s tagline is Grow With Us, Save With Us. This reflects the main aim of the organisation in serving member needs. At the core of the credit union are the values of Integrity, Competence, Good Governance, Confidentiality, Member Focused and Innovation. These five core values are embedded in the structure of operations. The management of the Credit Union comprises a Board of Directors, Credit Committee, Supervisory & Compliance Committee and Senior Management Team.
Communal Co-operative Credit Union