While several financial institutions are crumbling under the harsh economic times, the Grenada Union of Teachers Credit Union has demonstrated that they remain fiscally viable by enhancing the delivery of services to its customers on the sister isles of Carriacou.
Last week Tuesday, the union demonstrated its growing viability on the sister isles of Carriacou by re-locating to a more spacious and comfortable facility on the junction of Paterson and Main-Streets in Hillsborough.
President of the of the GUT Credit Union, Carl Andall said that the move from Lower Main Street is the answer to customers who have long demanded an operation which can provide them with greater privacy when transacting business at the GUT credit Union.
Mr Andall pointed out that this is a clear indication that the GUT Credit Union is here to stay, unlike several other financial institutions which are caving-in under the economic pressure.
“It is interesting to note that many of our financial institutions are scaling down on their operations by shutting down branches, retrenching workers as well as engaging in operations that are not customer friendly” said Andall.
He said that the growth the GUT credit Union has been enjoying over the years is testimony to the wealth of confidence members of the public has in the Institution.
He said that currently the GUT credit Union possesses assets in excess of one hundred million dollars ($100+ million) and membership exceeding six thousand (6,000) persons.
An update of the financial operations of the GUT credit Union was delivered by its Treasurer, Miguel Fortune. Pointing to some of their 2013 to 2014 figures Mr Fortune noted that despite the financial challenges facing the country, their union has been making strides. Among those he quoted to substantiate his claims were loans which has experienced 10.71% growth and savings which recorded growth of 14.53 %.
A demonstration of the Ex L.E.D. lights was done by Camille Goddard while the “It Pays to belong” program which speaks to great deals currently being offered at the Grenada Union of Teachers Credit Union was clearly outlined by Mrs. Retesha Boyd.
The cutting of the ribbon to the facility was done by retired school Teacher, Roslyn Lambert.