Members of Communal Co-operative Credit Union (CCCU) now have unlimited access to their savings through the use of the Connex international Debit Card.
The financial institution introduced its newest service to its estimated 17,000 members who are from diverse backgrounds during an official ceremony held last week Tuesday at the Grenada Trade Centre Annex.
CCCU’s introduction of its international Debit Card with Connex Experience was done is in partnership with the Grenada Co-operative Bank Limited, Grenada Public Service Credit Union Limited (GPSCCU), and in conjunction with the Caribbean Credit Card Corporation (4C’s) which formed the Connex brand and began issuing Connex Branded cards in 2010.
In speaking at the launch, General Manager of Communal Co-operative, Lennox Andrews noted that the Credit Union will celebrate its 50th Anniversary in October and the introduction of this new service to members forms part of the celebration.
In reference to the collaboration of the four entities which forms the Connex Brand, Andrews said there is no greater joy when people work together to achieve something great, adding that the culmination of their hard work is indicative that “the feeling is good” and brings a sense of satisfaction and drive to the institution.
He commended the work of four founding members of Communal who combined their small savings to establish the Credit Union, adding that, “we are living their dreams”.
He expressed pride in the fact that the organization is now able to give members full access to their money in any part of the world.
Andrews assured CCCU members that the quality of service provided to them at branch offices would not be sacrificed and that the staff has been well trained to facilitate the changes within the credit union.
General Manager of GPSCCU, Lucia Livingston-Andall, welcomed Communal Cooperative to the Connex family, saying that this is the type of service customers are demanding in the current business environment.
Managing Director of Co-op Bank, Richard Duncan who also spoke at the launch of the debit card reminded his colleagues that they need to co-operate whenever possible and compete when they can as there is a lot of room in the business for expansion.
According to Duncan, people appreciate convenience and are now technology savvy.
President of the Caribbean Confederations of Credit Union, Aaron Moses urged the authorities in Grenada to revisit the co-operative model in the quest for development.
Moses disclosed that in excess of one billion people worldwide are involved in a co-operative, which puts people at the centre of development.
Minister of Economic Development, Trade, Planning and Co-operatives, Oliver Joseph commended the credit union for moving in the direction of Connex and pointed out that it “is innovation and good thinking that brings change”.
Stressing that the Connex Brand has a total Caribbean flavour, Minister Joseph assured the local credit unions that the one-year old New National Party (NNP) administration remains committed to the growth and development of the sector.
He encouraged them to continue to support small business development, as it remains difficult for small businesses to access funding from the traditional banks.
Minister Joseph pointed out that he already has his Connex Debit Card through the GPSCCU, which he uses whenever he travels and to enjoy hassle-free money transactions.
With assets of $80.0 M, Communal has vowed to expand its membership and improve on the products and service offered under its tagline, “To grow with us, Save with us.”
The Connex Debit Cardholders would no longer need to carry large amounts of cash with them and merchants can enjoy instant processing and confirmation of transactions.
When members and consumers use their Connex branded Visa International Debit Card at Connex branded ATM’s and Point of Sale (POS) Machines, they automatically receive the added benefit of reduced cardholder transactions fees compared to use at other ATMs and POS Machines.