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SUNDAY, NOVEMBER 8, 1987
CREDIT UNIONS FACING NEW CHALLENGES
THE DIRECTOR OF AGRICULTURE AND FISHERIES, DR LAWRENCE LEE, THIS (SUNDAY) EVENING PRAISED THE ACHIEVEMENT OF THE LOCAL CREDIT UNION MOVEMENT IN THE LAST 20 YEARS, NOTING THAT LOANS ISSUED ተን MEMBERS AMOUNTED TO MORE THAN $405 MILLION.
HOWEVER, HE ADVISED CREDIT UNIONISTS NOT TO BE COMPLACENT. "FOR THERE ARE MANY NEW CHALLENGES AHEAD AS BOTH THE INTERNAL AND THE EXTERNAL ENVIRONMENT UNDER WHICH THE MOVEMENT SURVIVES AND DEVELOPS ARE IN A STATE OF CONTINUOUS CHANGE, HE SAID.
EXPANSION
"INTERNALLY, THERE IS THE PROBLEM OF AGEING MEMBERSHIP AND THE INCREASING MANAGEMENT DIFFICULTIES ACCOMPANIED BY THE RAPID OF THE CREDIT UNION'S BUSINESS.
"EXTERNALLY, THE CREDIT UNIONS HAVE TO FACE UP го
INSTITUTIONS,
COMPETITION FROM OTHER FINANCIAL AND LENDING THE TIME IS DUE FOR THE MOVEMENT TO THINK OF DRAW UP ACTION PLANS TO SOLVE THEM.
+
THE KEEN
PERHAPS, THESE PROBLEMS AND TO
OF CREDIT UNIONS,
WAS TO CELEBRATK THE 1987
DR LEE, IN HIS CAPACITY AS REGISTRAR ADDRESSING A DINNER RECEPTION HELD INTERNATIONAL CREDIT UNION DAY.
ASIDE BY THE
INTERNATIONAL
EVERY YEAR, A SPECIAL DAY IS SET CREDIT UNION MOVEMENT ΤΟ HONOUR THE HERITAGE OF CO-OPERATIVE PHILOSOPHY, RECALL THE ACCOMPLISHMENTS OF ITS PIONEERS, AND RENEW THE CONTINUING COMMITMENT TO DEVELOP THE CREDIT UNION MOVEMENT TO SERVE THE NEEDS OF ITS MEMBERS. THIS DAY IS ALSO OBSERVED IN HONG KONG.
DR LEE SAID THE CREDIT UNION LEAGUE'S COMMITMENT IN ORGANISING A RECENT REGIONAL SEMINAR IN HONG KONG ON "WOMEN'S INVOLVEMENT IN CREDIT UNIONS" MARKED A FIRST STEP IN THIS DIRECTION.
"I HAVE NO DOUBT THAT ALL OF YOU WILL CONTINUE ΤΟ ASSESS AND APPRAISE THE STRENGTHS AND WEAKNESSES OF THE MOVEMENT AND BE PREPARED TO MEET THE CHALLENGES FOR EFFICIENT MANAGEMENT AND IMPROVED SERVICES TO MEMBERS, HE SAID.
H
HE NOTED THAT THE MOVEMENT HAD ENJOYED ANOTHER SUCCESSFUL YEAR IN 1987 AND THAT THERE WERE NOW 66 REGISTERED CREDIT UNIONS WITHI 29,000 MEMBERS, AND SAVINGS AMOUNTING TO SOME $68 MILL FON, THE TOTAL MEMBERSHIP AND SAVINGS INCREASED BY 16 PER CENT AND 24 PER CENT RESPECTIVELY OVER LAST YEAR'S FIGURES.
WHOSE
DR LEE PAID TRIBUTE TO THE CREDIT UNTON MEMBERS VOLUNTARY AND DEDICATED SERVICES HAD BROUGHT ABOUT THE SUCCESS OF THE MOVEMENT IN HONG KONG. IFE PREVENTED CERTIFICATES OF AWARDS OUTSTANDING ON LONG SERVIE TO THEM.
FOR
THIS IS