Bush Tea Says “Leave Barbados Credit Unions Alone!”

“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.

Community Spirit

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) 

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12 Comments

Filed under Barbados, Business, Business & Banking

12 responses to “Bush Tea Says “Leave Barbados Credit Unions Alone!”

  1. ILLUMINATOR

    Bravo . Can’t some things remain mainly service or developmental oriented and money not introduced as the main focus thereby tainting the whole damn thing.

  2. bajanlion

    HEAR HEAR !!
    Sadly, de only ting dem thiefing piggies waan hear is mo money in dem own pockets, but with more readers like bush tea putting pen to paper or finger to keyboard, tings gine change in barbados real soon by fair means or fowl, boy u i grinning in anticipation 😉

  3. Anonymous

    Government needs to get its hands on any and all idle ca$h pools.
    NI$ funds done gone thru de edderz,
    and now credit unions are identified as the next main source of idle ca$h to be exploited.

    And you want to know why I keep my sta$h OUT OF THIS I$LAND??

  4. Anonymous

    The NIS pot must be running on empty so new sources must be found and quick.

  5. Warning!

    dont leave your money lying around, idle-so!

  6. Anonymous

    Banks are next!

  7. Undertaker

    I found her comments to be rather simple and shortsighted, credit unions thought they have lost focused of their real goals should never merge, each has its own unique quality. The large serve a certain type of people, whilst the small and company ones (light & power etc) focus and satisfy short to mid term goals of its members/owners.

  8. theNickster

    Now what we need to find out is there really an option to the whole thing or is she just hinting at another “Secret order in Counsel” type deal.

  9. 4dr14n H1nd5

    This article is a keeper. Very well said Bush tea very well said.

  10. Lady Anon

    The wish is to turn credit unions into entities like the Savings and Loans in the US. That way, they can bleed them dry and leave the people to suffer.

    Wait…dat happening now.

  11. Linchh

    BFP:

    Isn’t it time to clean up some of these posts? They do no good to the image of your blog.

    ******************

    BFP Comments…

    We get to them when we can, Linchh. We all have real jobs. It looks like the government is trying to force us to go back to an “always moderated” system. Maybe we will have to do that for Christmas.

    Our stories will keep coming though!

  12. I think that it is a very interesting and amusing article. Practically all its main points are true.