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Financial Democracy... through Credit Unions

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(1)
(2)

CO-OPERATIVE OWNERSHIP

Cooperatives are “Building Opportunities for the

Majority”

by being owned

by

the Majority.

(3)

MAJORITY ASSETS

0

500000000

1000000000

1500000000

2000000000

2500000000

3000000000

3500000000

4000000000

Caribbean Confederation of

Credit Unions (CCCU)

Deposits

Loans

(4)

OUTLINE

Understanding the Challenge

Promoting Innovation

Roles and Partnerships

(5)
(6)

UNDERSTANDING THE

CHALLENGE

Financial Services Sector

Inaccessible Technology

Lack of Citizen Identification

Lack of “Appropriate Collateral”

Inflexible Organizational

Structures

(7)

PROMOTING INNOVATION

M-Commerce and

m-Banking

Kiosk Banking

(8)

ROLES & PARTNERSHIPS

Shared Branching

Debit Cards

International Credit Union

(9)

IDENTIFYING OPPORTUNITIES

Institutional Strengthening

Caribbean Remittance Services

Data Services

Co-operatively Structured SMEs

Caribbean Integration Through Credit Unions

Harmonize/Unified Legislations

SIRA: Single, Integration Regulatory Authority

RSSU: Regional Stabilization & Supervision Unit

RFF: Regional Financing Facility

(10)

“SME-CU-bator”

The CCCU is encouraging the growth

and development of SMEs

(financial

and non-financial co-operatives)

Business Incubation services through a

centralized, co-operative prototyping facility.

A Model Credit Union system already

exists…working “on” credit unions, not just “in”

them.

(11)

SUMMARY

Low-cost access to user-friendly, efficient

financial services…a fleeting illusion.

Inability to save, borrow and utilize other

financial services thwarts the efforts of

otherwise hardworking poor people.

Transforming inhabitant into productive,

financially secure citizens…and

entrepreneurs.

(12)

POWER OF THE PEOPLE

Credit unions are about “People Helping

People to Succeed” by tapping into the

“Power of People”, especially those at the

bottom of the socio-economic pyramid.

“Get up, stand up” and “Emancipate yourself

References

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