Page 17 - ECU_Annual_Report_2018

Annual Report 2018 EASTERN CREDIT UNION

• Increased use of electronic payment channels to facilitate more efficient settlement and reduce
cost.
• Improving administration on the claim side of the business and the FIP. A team has been assigned
to treat with collateral security, and another team ensuring that IOCs are up to date, and related
documents are secured.

17.1 Acceptance
On a motion moved by Mr. Christopher Power (Chaguanas Branch) and seconded by Mr. Gary Cross (St.
Joseph Branch), the Consolidated Audited Financial Statements for the year ended December 31, 2017
were adopted.

18.0 2018 BUDGET
The Group CEO presented the 2018 Budget for discussion. The Budget was amended at page 2, by
changing “Budget 2017” to “Budget 2018”.

19.0 7 CREDENTIALS REPORT
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At 4.45 p.m. it was reported that a Credentials Report at 2.30 p.m. revealed that one thousand, three
hundred and eighty-two (1,382) members were present.

20.0 NOMINATING COMMITTEE REPORT
The Chairman of the Nominating Committee, Director Stephanie Benjamin, presented the Report of the
Nominating Committee which highlighted the following:

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• Thirty (30) individuals participated in the 7 Annual Credit Union Organization and Management
Programme from October 9, 2017 to November 11, 2017.

• The Board agreed in January 2018, that approval should be sought from the Accreditation Council
of Trinidad and Tobago to have the Credit Union Organization and Management Programme
accredited.

Members recommended that:

• Competencies should be set for the Board of Directors, Supervisory and Credit Committees. Also,
members should be given ample time to acquire the requisite competencies.

• Candidates’ qualifications should be included in the Nomination Profile.

20.1 Adoption
The Report of the Nominating Committee, as amended, was unanimously adopted on a motion moved by
Mr. James George Thomas (Port of Spain Branch) and seconded by Mr. Trevor Rogers (Tunapuna Branch).

NAVIGATING THE FUTURE TOGETHER 15