Credit Unions Need to be Distinct From Banks

credit-union.jpgAs part of the OECS Credit Union Summit held on august 24th and 25th , a major focus was bringing across that Credit Unions are distinct from banks.

Honourable Justin L. Simon, QC Attorney General in Antigua is endorsing that Governments in the region should stop legislations which affect Credit Unions.

Credit Unions are there for the common man, those who do not have securities.

Within the cooperative society there are financial and non financial co-operatives.

Coming from the OECS Assembly, they have recognized that standing alone as individual islands is not the way to go.

It has to be a harmonized piece of legislation which means whether you are in St. Lucia or Dominica, the rules and provisions are the same.

This will further foster the integration of the OECS Territories.

 

 

 

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