through a major credit card facility
provider.
The St. Lucia Co-operative Credit
Union League Ltd. was established
on January 26, 1977, to serve the
credit unions and co-operatives
of Saint Lucia by providing the
highest levels of leadership,
growth, strength, unity, professional
service, quality information, and
self-sustenance of the co-operative
movement through advocacy.
Since then, the League has evolved
to serve solely the credit unions as
their secondary body, coordinating
the collective resources of the
credit union movement, facilitating
education, and training. The League
creates an enabling environment
where Saint Lucians use the co-
operative concept in meeting their
socio-economic needs.
President of the Saint Lucia Co-
operative Credit Union League
Ltd., Gilroy Satney, said that when
credit unions act together, they can
overcome even the most difficult
challenges, even forcing banks to
change their traditional modes.
“The banking system in our
homeland has been reacting
because of the unity of co-
operators whom they denied loans
and other access to banking in
the mid-19th century and because
co-operators recognized that
they had gained from working
together,” he said.
Satney said the high-quality co-
operation, including the credit
movement’s philosophy of people
helping people, has helped the
founders of the credit union
movement in Saint Lucia to lay the
foundations for making life better
for members and shareholders.
With technological advances and
competitive practices occurring
at a fast pace, he contends that
the Saint Lucian credit union
movement is taking positive and
innovative action to maintain its
relevance.
“Our decision was driven by
the fact that our members are
becoming increasingly interested
in convenience -- the younger
ones, in particular. They wanted
access to their money 24 hours a
day if and when the need arose
in a location nearest to them,”
Satney explained.
Capita Financial Services Inc. is the
main collaborator in provision of
the new service. Capita Financial
Services Inc. is the primary
stakeholder with responsibility
for managing, acquiring and
coordinating the ATM project for
the St. Lucia Co-operative Credit
Union League Limited, with the
latter company representing twelve
credit unions and nearly 71,000
members.
Capita Financial Services Inc.
President and CEO, Paul Maxwell
Bevertec CST Inc., a leading full-
service one-stop provider of financial
services in the Caribbean and further
afield, has partnered with Capita
Financial Services Inc. to provide the
innovative ATM network and related
technology associated with UNICARD.
Capita Financial Services Inc.
President and CEO, Paul Maxwell,
welcomed UNICARD, saying strategic
partnerships need to be forged in the
current competitive business climate if
credit unions hope to survive.
“We’re very excited for what the
implementation of the ATM network
means for the credit unions and
their members here,” Maxwell said.
“Not only has the value proposition
for credit union membership been
significantly enhanced, but credit
unions can now begin to position
themselves as primary fi`nancial
institutions for their members.”
When easy access to funds is
provided, Maxwell said, people feel
more empowered to conduct business
with institutions. With the introduction
on UNICARD, he projected an uptick in
credit unions’ attractiveness to current
and prospective members.
President of the Saint Lucia Co-
operative Credit Union League
Ltd., Gilroy Satney
www.slyoumag.com | February - April 2020
SL-YOU | It’s All About Business 39