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#Independence Message – Credit unions remain hopeful

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Independence Day Messages 2020: Barbados Co-operative & Credit Union League Ltd.

by Hally Haynes

We know that in periods of adversity, when difficult situations are presented to us, it is easy to throw our hands in the air and resign ourselves to the circumstances that are before us. This, however, is not the time for resignation, retreat or withdrawal.

As we celebrate our 54th year of Independence as a Nation, we are also gripped by the negative impact of the novel coronavirus (COVID-19). Some of us may be very tempted to buckle under when faced with the daunting challenges.

We in the Barbados Co-operative & Credit Union League say now is the time to push ahead, design plans for the future, and use this experience to spur creativity.

There is no doubt that even at this time of Independence celebrations and preparation for the Holiday Season, many within our communities and households are experiencing a difficult time meeting some of their regular needs.

The pandemic has crippled numerous businesses and undermined the financial strength of others. As a result, there is a high level of unemployment and dislocation.

We do not seek to minimize the impact of COVID-19 on almost every aspect of our daily lives. However, we acknowledge that there are many positives as a nation that we should herald.

Foremost is the consistently excellent work of frontline health care workers such as doctors, nurses and support staff of hospitals and clinics in the public and private sectors. Staff at the state-run Isolation Facility at Harrison Point, St Lucy who care for COVID-19 patients are deserving of special praise.

The League also salutes this country’s first responders including the men and women of the Royal Barbados Police Force, Barbados Fire Service, Barbados Defence Force, Prison Service, Ambulance Services – both public and private, and security personnel across the island who have worked tirelessly to keep us secure.

We, as a nation, must celebrate the successful collaborative, all-country approach that has kept our island relatively safe from the spread of the illness into our communities.

At the same time, we express our condolences to relatives of the seven victims who succumbed to COVID-19 during the year.

It has been no small feat to contain infections on the island given the virulent spread of COVID-19 across major industrialised, developed countries with far more financial resources at their disposal.

We know there are risks associated with resumption of our key tourism industry and salute those working daily to support a safe resumption of this vital sector in our economy.

The Credit Union movement with its more than 218, 000 members spread across 30 affiliate credit unions believe our optimism in the future is justified, and as such, we will continue to push ahead with our plans that contribute to national development.

Our platform at the Social Partnership will allow us to continue our strong lobby for matters such as Deposit Insurance protection for all credit union depositors, as is the case for banks and other registered non-bank financial institutions.

The Co-opEnergy RE project which we strongly support is intended to create an unprecedented level of energy independence and our focus on increased technology in our operations will provide our members with greater efficiencies.

We intend to continue our focus on membership training in areas of anti-money laundering and the financing of terrorism, financial and business literacy, as well as entrepreneurship.

The Credit Union sector in Barbados is strong, our members have faith in our organisation, and the League intends to ensure the continued growth and development of the sector while enhancing and expanding the co-operative business model.

It is Helen Keller who said, “Optimism is the faith that leads to achievement. Nothing can be done without hope and confidence.” We believe there is much reason to hope.

Happy Independence Barbados!

Hally Haynes is President of the Barbados Co-operative & Credit Union League Ltd.

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