Credit Unions
Communal Co-operative Credit Union
“Local Credit Unions are not only seeing resurgence but also growth”. According to Lennox Andrews, General Manager of the Communal Cooperative Credit Union – This home grown Grenadian financial institution is offering something different – a refreshing philosophy some might say?
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Our Credit Union is owned by Grenadians right here, so there is a greater link between the CU and its membership. It is a product of the brains, the effort, the commitment and philosophy of the people of Grenada. It becomes “ours” so we are qualitatively different because of that philosophy,” says Lennox Andrews, GM of The Communal Co-Op Credit Union. So, just what is the difference between keeping your hard earned money in a Credit Union instead of a commercial Bank, Business Grenada asks ? “In terms of function and duty there is no fundamental difference. How we differ, is philosophy of members helping members - that co-op mentality is what makes us different to a banking institution. Also our members own the Credit Union, so have a vested interest in the Credit Union doing well,” Andrews says.” Grenada born and raised, Andrews has a long history in the financial sector. This son of the soil educated in Economic Planning in Cuba and UWI, St Augustine, Trinidad, honed his management skills and experience over a career spanning stints at the Ministry of Finance and at the ECCB (Ea 7FW&?6&?&&V?6V?G&?&?26?V?G'?V6????7Bf?"w&V?Fb???G6W'&B??R?FW"&V6?R2??F?R???7G'??bf???6R??BF?V??VB?bF?R?ff?6R?bF?RWW&?V?V????v?W&R?Rv?&?VBF?6V7W&Rf&??W2f?&?2?bf???6??76?7F?6P??&?w&?2f?"w&V?Fg&??F?RWW&?V?V??????G&Ww2????VB6???V??6???W&F?fR7&VF?BV???????7B??#?2vV?W&???vW"?BF??Rv?V?F?R7&VF?BV?????B6??Rb??V?&W'2?FV?F??W6?B?bF?V?7F?fV?6f??r?( ?vR6VR??Wr?V?&W'2W"???F??B6??F??VVBw&?wF???W"??vR?2??RF?B?vR6&R?vR&RVffV7F?fR?vR??vR?BvV???6?F?B?2F?RG&rf?"V??RF???fW7B???W"5R?( ???7&VF?BV????2??w&V?F&R&VwV?FVB'?t$d???w&V?FWF??&?G?f?"F?R&VwV?F????bf???6????7F?GWF???2??B?W7B7V&?Bf???6??7FFV?V?G2?B???F??&W?'G2f?"&Wf?Wr?B??6?2?B?W7B?6?F?W&RF?F?R6???W&F?fR6?6?WF?W27B?b#v??6?v&f??W6W22F???F?&VwV?FR??7&VF?BV????( ?2??F?R?6??B??G&Ww277W&W2?F?B??F?W6RF??W2v?W&R&??2?Bf???6????7F?GWF???2&R&GF??rv??7BFVWV&?2F?7G'W7B?7&VF?BV????2&R6fR&WB?( ??R??W'6V?b?V???R??W"???W?6fR?B?W"t???&?&B??vV?V?B&R?6?VB'??V?&W'2f?F??rf?"v??F?W?F????6?&W7B6W'fRF?V??Bv??&W6V?G2F?R&W7B7&VFV?F??2?F?W6R6???GFVW2&RF?V?66?V?F&?RF?F?R?V?&W'6?????FW?6?G2&R??7W&VB?'WB&?fR?????R?VVB6?V?Bf???6????vV?V?B?B??6?W2F?&?FV7B??W"???W????B??7W&?6R???f???6??&W?'G2?fRF?&R7G&??r?F?f?FV?G2?W7B&P??7G&??r???&V6V?B?V'2F?f?FV?G2?fR&VV?"R?bw&?72&?f?B?( ??G&Ww26?2??B?N( ?2??B?W7BF?RfW&vR6??7V?W"V??????rF?R&V?Vf?G2?b7&VF?BV????f???6R?F?Rw&V?F'W6??W726???V??G?F???2????VBF?R7&VF?BV??????fV?V?B?( ?vR?ffW"WfW'??F?W"6W'f?6R&??6??ffW"'W6??W72??6?VF??r?WGFW'2?b7&VF?B?v?&RG&?6fW'2????W?G&?6fW'2?'W6??W76W2W6RW2&V6W6RF?W??fR5R????6????vR&R???V???rV6??F?W"?BvR????V?F?f?FV?B?( ??G&Ww2?2??B??RF???6Rv?&G2&?WB6???W&6??&??2?( ?F?R&??2??R&?f?B?B???F?R&??2?v?W"?6?&V???FW'2??R?????W??vR?F?f?FV?G2F????W"?V?&W'2??W"???2?v?2F??V??W"?V?&W'2?VWBF?V?"?VVG2?( ?F?RgWGW&R?bF??2w&V?F??7&VF?BV?????2??6VBF?v?( ?f?&?( ?'WB??v??Bv?( ?vR??RF???7F??D??6???W2B???W"'&?6?W26?????Bv?F??W"FV&?B( ??7FW&6&N( ???V?&W'2&R&?RF?vWB66?g&????&????F?Rv?&?B?vR&R?6?????rF?Rf?V?FF???&?v?B??r?F??ffW"gV??????R6W'f?6W2'WBvR&R&V??rfW'?6&VgV?v?F???rvR&?6VVBF?V?7W&RvR??fW7B??F?R&?v?B7?7FV??( ??G&Ww2W????2?'WB?G&Ww2?2&?vvW"???&R?F????7F?2??2f?"F?RgWGW&R?b7&VF?BV????2??w&V?F?( ?F?R???2?f?"F?R7&VF?BV??????fV?V?BF????V6?&?vvW"&??R??F?Rf???6????G66R?bF?R?F????7&VF?BV?????6?2?( ?6?( ??B?G2????6????27&VF??rF?&?Vv??WBF?Rv?&?B???Wr??FV?f?"V6????2FWfV???V?B?( ?( ?V??R6??RF?vWF?W"?WBF?V?"???W?????R?6R?BW6RF?B???W?F?w&?r?BF??V?V6??F?W"?FWfV????r6?V?G'??B?G2V??RBF?R6?RF??R?( ??G&Ww26??6?VFW2( ?F??2?2w&VBv?F?F?R6?V?G'?f?'v&B??B6W'fW22f??R??FV?f?"V6????2FWfV???V?Bf?"F?RgWGW&R?( ??wwr?'W6??W76w&V?F?6???Cp??