50 years and growing

(ACP) Michael Francois and Lennox Andrew unveil Communal 50th Anniversary banner

(ACP) Michael Francois and Lennox Andrew unveil Communal 50th Anniversary banner

Members of the Communal Cooperative Credit Union Ltd (CCCUL) can get up to $50,000.00 in loan as a special package to mark the 50th Anniversary of the financial institution.

The 50th Anniversary Loan Special, a Church Service, Shares Promotion Drive, Banner Placement, Boat Cruise, and Appreciation Day in October to herald the occasion.

The theme selected for the celebration is “Living the dreams of our Founders.”

The 50th Anniversary Banners were unveiled during a brief ceremony held last week Wednesday at the company’s Headquarters in St George’s.

General Manager of Communal Cooperative, Lennox Andrew, recognised the contributions of $500.00 made by the founding members of the institution 50 years ago to get the organization up and running.

Andrew told members of the local media that in 2013, the assets of  CCCUL grew by more than 10% to reach $79M, its membership by 6.7%  and now standing at 19,000), savings by 12.4% and loans by 8.2%.

“It says that in essence our institution is growing and it’s playing a leading role in the financial landscape of Grenada and in helping to transform the lives of our people,” he said.

“As we celebrate 50 years of existence we want to pay special homage and special tribute to our founders. Those men and women who 50 years ago with a noble thought and brilliant minds and foresight created and established this meaningful institution somewhere on Market Hill”, he added.




The General Manager of the credit union stated that one of the special tributes that can be paid to the founders is by adopting the theme chosen, “Living the dreams of our Forefathers”.

“Have our founders been alive today, they would have been happy to see the transformation over those 50 years, and they would have said to themselves that we would have worked hard and we would have worked well and that our objectives would have been fulfilled”, he remarked

“They would have also said to themselves that the journey would have just begun for our work is a continuous one, never ending, the institution must continue to live and survive and play a leading role in the financial landscape of Grenada and to remain relevant in the lives of its members and by extension Grenada”, he said.

Andrew underscored the need for management and staff of the credit union to commit themselves to work hard and follow in the footsteps of their forefathers to developing ideas and to continue the task of transforming this noble but meaningful institution called

He stated that in moving forward, the intention is not just looking to celebrate 50 years but the celebration of 50 times 50, and to remain forever young.

“Communal will never grow old, Communal will always remain green, Communal will always live and she will live forever and it is her works and deeds that will characterise and define her place in the financial landscape and society of Grenada,” he said.

President of the Credit Union, Assistant Commissioner of Police (ACP) Michael Francois used the occasion to recognize the accomplishment of the credit union over the years.

The senior police officer noted that it has been 50 years of conscious effort to remain a growing concern in the financial landscape, which has been characterised by imperfect competition and ever-changing technology.

ACP Francois stressed that 50 years is a milestone and pointed out that the credit union intends to write a book about Communal, its start and accomplishments over the 50 years.

The official launch of Communal Cooperative activities in celebration of its 50th Anniversary comes one month after the Credit Union became a member of the Connex Brand – Debit Card, which give members full access to their money anywhere in the world.

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