“We now have the ridiculous situation where government ministers who oversaw projects like Greenland, The Prison contract, The VECO oil terminal and the ABC Flyover scams are now ‘helping the Credit Unions to introduce proper controls’ – and worse yet, the Credit Union Leaders are so lacking in self-confidence that they cannot see the irony.”
LEAVE CREDIT UNIONS ALONE
It would be so much better for some people in authority to keep their mouths shut an let the general public continue to assume that they are indeed experts – rather than to continue to confirm over and over, by their ranting, that they know no more than the rest of us do about anything.
Like me, Mrs. Marion Williams is clearly no Credit Union expert. Why then does she feel obliged to offer advice to this sector? Every time she speaks about Credit Unions, it becomes clearer to me that she does not know what she is talking about – and it leads me to wonder what she knows even about banking….
What mergers what ?!?
Credit Unions are NOT banks and they are NOT intended to be ‘like banks’ or other capital-driven financial institutions. Co-operatives are ‘PEOPLE ORIENTED organisations. They are intended to facilitate the overall development of their members. And there is no better human organization in existence that can facilitate such development.
True! Credit Unions allow members to pool resources so that reasonable financial needs can be met, but even more importantly, they provide a platform for the development of community LEADERSHIP, community relationships, skill development, mutual understanding and for community service.
A proper look at the Barbadian movement would demonstrate that beyond the accumulation of $1 billion in savings, has been the creation of a HONEST, DEVELOPMENTAL, structure of LOCAL leaders at all levels who have served their various unions for YEARS without thievery, excessive scandals (except where ‘politicians’ became involved for their selfish reasons). It is indeed a movement of which an independent Barbados can be proud.
Any talk about merging Credit Unions is misguided, insulting, unnecessary and lame. Shamrock, one of the smaller credit unions, which presumably Mrs. Williams would like to ‘merge’ with Public workers, is an example of community effectiveness. The number of community leaders, the level of community assistance and support could NEVER be replicated in a mass-based organization.
The community spirit, which is generated in credit unions like Cable &Wireless and Light & Power credit unions, is different – but just as unique. Nothing would destroy these great assets like having one large union with large assets and lots of power hungry vultures vying for control and introducing their dirty tactics and tricks like we tend to see in politics and in the bigger richer units.
The reason that central bank in now interested in control of Credit Unions is the very success that this movement has demonstrated over the years through sound management SYSTEMS, people involvement, and community focus.
We now have the ridiculous situation where government ministers who oversaw projects like Greenland, The Prison contract, The VECO oil terminal and the ABC Flyover scams are now ‘helping the Credit Unions to introduce proper controls’ – and worse yet, the Credit Union Leaders are so lacking in self-confidence that they cannot see the irony.
The Sweet Fruit Of Credit Unions vs Rotten Apple Big Banks
Jesus always made things look so simple…. He suggested that we should judge a tree by its fruit. I will take the Credit Union sweet fruit any time rather that the Government/Central Bank/ Big Business ‘monkey dumplings’..
May be what we should really be doing now, based on the results seen in the Credit Union, is decentralizing Government, going back to Community based Councils with LOTS more people-involvement at all levels – and many more opportunities for leadership development, talent identification etc….. this approach also ensures that lots more people are looking on when millions of dollars of public money is being committed to shady deals.
As I said previously, the day that Credit Unions recognize that they should also serve members by getting involved in food production and distribution there will be a major revolution in this country… trust me.
In other words based on all the facts before us, we should adopt a Co-operative approach to running Government.
(Our thanks to BFP regular Bush Tea for this thought provoking and well-written article)