Chaguanas, Trinidad – 8 August, 2019: The Central Finance Facility (CFF) was honored at the 2019 World Credit Union Conference (WCUC) hosted by the World Council for Credit Unions (WOCCU) in collaboration with the Caribbean Confederation of Credit Unions (CCCU) in Nassau, Bahamas. The conference took place from July 28 to 31, 2019 with a focus on Digitization.
World Council Chair, Mr. Steven Stapp presided over the opening ceremony which welcomed thousands of credit union professionals who attended the WCUC held at the Atlantis resort. The conference provided information for its participants about best practices, new trends, how credit unions are connecting with their members and the creation of social media platforms to create a positive impact in communities.
At the Worldwide Foundation Champion Celebration held on the evening of July 29, the CFF was honoured by the Dominica Credit Union Movement (DCUM) for its support to the credit union movement following Hurricane Maria. The CFF’s Secretary, Mr. Marlon Charles received the token on behalf of the organisation.
In the aftermath of the hurricane, the CFF mobilised contributions from member credit unions and proposed a Caribbean Disaster Plan with the ultimate goal of developing pre-emptive rehabilitation policies and the provision of psychological support to credit union officers, staff and members in helping them cope with the fallout of natural disasters. The plan is intended to provide low cost financing for environmental activities that insulate against climate change and natural disasters; and also low cost financing for economic and business activities that rebound more easily from natural disasters and are more responsive and adaptable to climate change.
Commenting on the Caribbean Disaster Plan, CFF President Ms. Letitia Telesford said “our world is a better place when cooperatives cooperate.” Through the CFF’s efforts, a contribution of $110,000 TTD was made towards reconstruction of the DCUM League building and other revitalization works. Credit Unions who contributed to the initiative included VENTURE Credit Union, Trinidad & Tobago Police Credit Union, Community Care Credit Union, Aero Services Credit Union and PECU Credit Union. The CFF is pleased to have been able to coordinate this effort, it remains committed to supporting the development of the Credit Union and Cooperative sectors in Trinidad and Tobago and the wider Caribbean region.
About the Central Finance Facility (CFF): The CFF was established in May 2002 as the financial institution for cooperatives and its mandate is to advance the movement on the pillar of cooperation among cooperatives by harnessing its human, financial and technological resources and creating wealth for all cooperative members.
About the World Council of Credit Unions (WOCCU): WOCCU is the global trade association and development platform for credit unions. World Council encourages the sustainable development and empowerment of credit unions and other financial cooperatives around the world through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions’ financial performance and increase their outreach.