Anthony Minott, Freelance Writer
Paul Parkes (left), general manager of Desnoes and Geddes (D&G) Employees Cooperative Credit Union Ltd., confers with Clive Chambers second vice-president, prior to the start of the credit union's first long service awards ceremony at the Terra Nova Hotel in St Andrew on October 27.
NINE STALWARTS of the 49-year-old Desnoes and Geddes (D&G) Employees Co-operative Credit Union LTD were honoured on Thursday, October 27, during a function at the Terra Nova Hotel in St Andrew.
Topping the list of awardees were veterans, Dennis Dick (1st vice-president of the D&G Employees Credit Union), Oliver Rose and Rosemarie Thompson, who have served the credit union for 25 years. Sharon Samuels was awarded for 20 years of service. Clive Chambers, second vice-president of the credit union and James Smith were awarded for 15 years, while Benjamin Brown, Sonia Webster and Joan McLeggon received awards for 10 years' service, each.
Guest speaker, Dr. Omar Davies, Minister of Finance and Planning, addressed the financial situation of the country and some legislation being discussed with regard to credit unions.
Executive and members of the credit union listened keenly when Dr. Davies dealt with the pending issue of credit unions' accountability, legislations and compliance stipulated by the Bank of Jamaica (BOJ).
One credit union executive told The Gleaner that one of the clauses being contemplated is a cess to be paid over to the BOJ by all credit unions, which, he said, will put some credit unions under financial pressure. Other financial institutions are required by law to pay over this cess.
PROTECTED BY GOV'T
Dr. Davies reassured the patrons that the Government will protect the credit union movement.
"I want to put your hearts at ease. The changes in terms of the regulatory will not be forced down the throat of the credit union movement," Dr. Davies disclosed. He stressed that the fundamental issue had to do with a regulatory organisation and financial advisors who act on behalf of credit unions.
He added, "If each side comes to the table with the commitment to find a mutually acceptable resolution something in which all parties can operate with, then all is set for the way forward."
He lauded the honorees for serving the movement for this length of time.
