Credit unions shelve 2020 convention

Credit unions across the Caribbean have been forced to cancel their biggest annual event scheduled for the Dominican Republic in June, owing to COVID-19.

The Caribbean Confederation of Credit Union’s (CCCU) has announced that its marque event – the 63rd international convention – at which Antiguan Prime Minister Gaston Browne was to be the featured speaker, has been shelved.

The convention, which attracts thousands of delegates, with the largest delegations coming from Barbados, Trinidad and Tobago and The Bahamas, is a major source of financing for the regional secretariat. That cancellation was forced after most credit unions expressed doubt and fear of attending given the rapid spread of COVID-19 in the host nation and the region. In addition, most delegates would have been required to transit through the United States, which has become a hotbed of the virus.

In correspondence from CCCU President Winston Fletcher, credit unions were told that the CCCU Board, at a virtual meeting on March 31, decided that given the rampant spread of COVID-19, postponement was out of the question and there should be a cancellation. The convention also doubles as the annual general meeting of the regional body.

Fletcher said: “The board, having examined conditions which would affect attendance, recognised that a level of confidence will have to be restored for persons to travel, as well as, there are likely to be competing events if postponed.

“The board further examined the implications of the cancellation on the operations of your confederation as the convention is our major revenue earner. We will employ cost cutting measures including but not limited to; electronic board meetings, curtailment of travels, and reduced opening hours to contain our utilities and general maintenance expenses,”

Some affiliates had already completed early-bird registration, including flight bookings with the official carrier American Airlines. In this connection, the CCCU president said: “We are further kindly requesting of our members that registration fees already paid to your Confederation be treated as deferred expenses for the 2021 Convention, as your Confederation will be faced with a huge cost to return all monies to 55 organisations. Changes to names or number of attendees will be accommodated in 2021 at no cost.”

It is unclear whether credit unions will support staging of the event in the Dominican Republic next year. The DR has recorded 3,286 confirmed cases and 183 deaths from the highly contagious disease.

The CCCU serves 289 credit unions with 2.6 million members and cumulatively have savings of US$ 6.2 billion. The 2019 convention was held in The Bahamas and was jointly staged with the World Council of Credit Unions annual conference.