SUNDAY, OCTOBER 2, 1988
RENEWED EFFORTS TO PROMOTE CREDIT UNIONISM
THE DIRECTOR OF ARGICULTURE AND FISHERIES, DR LAWRENCE LEE, TODAY (SUNDAY) CALLED ON LOCAL CREDIT UNIONISTS TO MAKE A RENEWED EFFORT IN PROMOTING THE CREDIT UNION CONCEPT IN HONG KONG IN ORDER TO BENEFIT MORE PEOPLE.
HE SAID: "THE HORIZONTAL GROWTH OF THE CREDIT UNION MOVEMENT IN HONG KONG, IN TERMS OF NUMBER OF CREDIT UNIONS, HAS LEVELLED OFF IN RECENT YEARS.
"THE TIME HAS NOW COME FOR RENEWED EFFORTS CREDIT UNION CONCEPT SO THAT MORE AND MORE PEOPLE IT."
IN PROMOTING THE CAN BENEFIT FROM
DR LEE SAID THIS WHEN HE OFFICIATED AT THE CREDIT UNION WALK AT THE YUEN WO PLAYGROUND IN SHA TIN IN THE CAPACITY OF REGISTRAR OF CREDIT UNIONS.
TODAY'S CREDIT UNION WALK WAS THE FOURTH ORGANISED BY THR CREDIT UNION LEAGUE OF HONG KONG SINCE 1983 TO RAISE FUNDS FOR ITS PROJECTS AIMED AT IMPROVING EXISTING SERVICES AND INTRODUCING NEW ONES.
DR LEE SAID THAT THE WALK, TO HIM, WAS MORE THAN JUST A FUND-RAISING CAMPAIGN BECAUSE IT CARRIED WITH IT TWO IMPORTANT MESSAGES.
"FIRSTLY, THE WALK REMINDS CREDIT UNION MEMBERS OF THE FUNDAMENTAL CO-OPERATIVE PRINCIPLE OF MUTUAL SELF-HELP WHICH IS VITAL FOR THE STRENGTH AND CONTINUING EXISTENCE OF THE MOVEMENT.
"SECONDLY, YOUR DEMONSTRATION OF COMMITMENT TO SUCH PRINCIPLE WILL NO DOUBT AROUSE THE INTEREST OF THE WIDER COMMUNITY IN THE TERRITORY IN THE PHILOSOPHY, IDEALS AND SOCIAL GOALS OF THE CREDIT UNION MOVEMENT, HE ADDED.
THE CREDIT UNION MOVEMENT IN HONG KONG CAME INTO BEING IN FEBRUARY 1970 WITH THE ESTABLISHMENT OF 36 REGISTERED CREDIT UNIONS FOLLOWING THE ENACTMENT OF THE CREDIT UNIONS ORDINANCE. THE TOTAL MEMBERSHIP WAS THEN 5,500 AND SAVINGS ONLY AMOUNTED TO $860,000.
THE NUMBER OF CREDIT UNIONS INCREASED TO
66 IN 1986 WITH A TOTAL MEMBERSHIP OF 33,000 AND SAVINGS AMOUNTING TO $110 MILLION.
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