GPSCCU Annual Report 2013
Delinquency Management
Common to all Credit Unions in Grenada, delinquency continue to be a formidable enemy. We have done a lot, trying to get
members to honour their commitments, we were successful at times, but I believe there is more that can be done.
I believe we can hold true to our core Credit Union philosophy and still hold members accountable for the money they borrow. If
a member borrow he must repay, there are no two ways about it. We will make the tough decisions in 2014 to recover your money
and improve the delinquency situation as we continue to secure the long term survival of the credit union that we all love so much.
The Morne Jaloux Project
In recent years the Morne Jaloux project has taken much of our attention and time. You would recall that we gave an undertaking
to pursue the project during 2013. Upon careful consideration we felt that discussions were not in the best interest of the credit
union and as a result we terminated those discussions. We are currently evaluating our options with the aim of maximizing the
potential of the Morne Jaloux lands; we crave your patience in this regard.
Maintaining Leadership
As we reflect on our achievements, we do so with a sense of pride. Over the years the GPSCCU has demonstrated its leadership by
recording a number of firsts for the Grenada Movement.
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The first credit union to have an internal auditor with international qualification and experience.
The first to perform an assessment of the performance of every director, including the President.
The first to consistently break the $2m annual surplus barrier. We were able to do this consistently for the last couple years.
The first to have ATM machines.
The first to offer our members debit card facilities providing ease of accessing your money at anytime and from
anywhere in the world.
Notwithstanding these successes, as President, I refuse to make a boast of our achievements, significant as they might be. I shall
boast of our achievement when credit unions as a whole achieve a closer working relationship, when shared services within the
Grenada movement become commonplace.
For I see us making huge savings and emerging stronger from shared services. I challenge us to start thinking seriously in this
direction. Leading the way with shared services is attaining true leadership within the movement.
Therefore we should not just extend invitations to our sister credit unions to become part of what we are doing; we should lead
the discussion and be sensitive, wise and tactful enough to walk them through.
Finally, I take this opportunity to thank our founding fathers who summoned the courage to initiate the GPSCCU at a time when the
world was in no better shape than it is today. I thank also our past leaders for offering strong leadership over the years. I thank my
fellow colleagues on the Board of Directors for your co-operation and dedication and for affording me this opportunity to serve
as President for yet another year, the Supervisory and Compliance Committee, the Credit Committee the Internal Auditor for your