CHARLESTOWN, NEVIS, June 7, 2022 (MMS-SKN) — Mrs Vernesia Walters, who served as President of the Nevis Co-operative Credit Union (NCCU) Limited and led the financial institution during its most challenging times occasioned by the COVID-19 pandemic, has retired having served two three-year terms as a member of the Board. At the 49th Annual General Meeting held on Thursday June 2 at the Nevis Performing Arts Centre, it was announced that Mrs Kenisha David would be nominated to replace Mrs Walters.
Speaking at what would be her last AGM as President, Mrs Walters said: “The year 2022 is a significant time in our history when we cast our gaze at the birth, growth, development and maturity of the Nevis Co-operative Credit Union Limited and its impact over the past 50 years on the lives of our members and their families. This indigenous institution is a significant contributor to the financial services sector in St. Kitts and Nevis, and more specifically, the Nevisian economy.” The Credit Union was registered on July 25, 1972 and is celebrating under the theme ‘Consistency, Financial Security & Serving the Community — 50 years of Development and Prosperity.’ As at December 31, 2021, the Credit Union had Assets of $164.4 million; Savings Deposits of $137.3 million; Share Capital of $8.7 million; Loans of $104.4 million; and Reserves of $17.7 million with a Membership of 6,464.
Treasurer Mr Brian Carey announced that the credit union recorded a net operating surplus of $1,672,046 for 2021, with positive growth in all key areas despite COVID-19 continuing to impact the economy. Assistant Treasurer Mrs Alexa Pemberton announced a recommended dividend of 5.5% — slightly above last year’s 5% — as a recognition of the credit union’s 50th anniversary. Mrs Walters concluded: “I wish to say ‘thank you’ to the Board of Directors, the committee members and all members, management and staff for your support over the past six years of being a director and the past three years of being President. It indeed has been a pleasure. It is a bittersweet moment for me because I will miss my hardworking team.”