The management of the Grenada Union of Teachers (GUT) Co-operative Credit Union Limited is now in the hands of a female as its manager, now that Samuel Britton has called it a day after 20 years of being at the helm.
While accolades were being showered on Britton, the incoming manager, Retesha Smith-Boyd was introduced to members during its Annual General Meeting (AGM) at the Grenada Boys Secondary School last week Thursday.
GUT Credit Union began operations in 1983, born out of the idea of pooling members resources together to assist them.
At the time of the launch Britton served as the first Treasurer for a period of nine years, before becoming President of the union for two years.
In 1997 Britton became the credit union’s first manager.
The immediate past manager expressed mixed emotion over his retirement.
He told the AGM he is not sorry for retiring, but in the same vein he is very sorry he will no longer be part of the staff of the GUT Credit Union.
He indicated that when operations commenced in 1983, the business of the credit union was conducted voluntarily.
Britton said when he came on board, the credit union had an asset base of 5M, and those given the task of guiding its operation had to grow the organization.
He said his first task was to create the conditions in the organization of trust for its members.
He spoke of writing to each member advising them that before going to any other financial institution, they should speak with the GUT Credit Union as they are willing to help.
Having started with just under $1,000.00 and a membership of 52, the GUT Co-operative Credit Union Limited now has over 7,000 members with an asset base of over $162M.
GUT has since acquired the assets and liabilities of GCNA Credit Union, Christian Credit Union, Police Credit Union and Tivoli Credit Union