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Acting PM encourages Credit Union thrift


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Contact: Ryan O'brian

 

Tuesday,  September 4, 2007 –   Acting Prime Minister Honourable Stephenson King has applauded the Elks City of Castries Co-operative Credit Union for its perseverance and longevity.

 

Mr King made the comments while delivering the feature address at the formal opening ceremony of  the Union's new premises at the corner of Brazil and  Coral Streets over the weekend.

 

The Acting Prime Minister told the gathering he was actually a member of the Elks City of Castries Co-operative Credit Union and made a plea  for Saint Lucians to get involved in the credit union movement.

 

“ I believe that  people's participation in the credit union  movement, particularly at an early age  brings about the  spirit and the culture of thrift – one which is absent  in our society today, particularly at a time when society seems  to be driven by the niceties and materialism that pervade our society.” said Mr King.

 

The acting Prime Minister, who is also responsible for Co-operatives, expressed a desire for more young people to play an active role in keeping the co-operative movement alive and to make proper use of the services it provides.

 

“ I do hope that  your organisation  which started 40 years ago  and was  reconfigured sometime recently presents an opportunity for the  participation, not only of those  who were involved  then, but for the younger folk  who may be  attracted  to an institution that provides opportunities for savings and access to funding, resources for  funding of activities  of  need, rather than  activities of want.” he suggested.

 

The Elks City of  Castries, Co-operative Credit Union has a membership of  4,000 members and a fixed asset base of over one million dollars.


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