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SUNDAY OCTOBER 70, 1991

INTERNATIONAL CREDIT UNION DAY CELEBRATED

THE SUCCESS OF CREDIT UNIONS IN HONG KONG IS THE DIRECT RESULT ΤΟ THE PRINCIPLES OF THE CONTINUING BELIEF, PRACTICE AND COMMITMENT

OF THE PEOPLE WHO HAVE OF CO-OPERATION AND THE VISION CREATE THEM, THE REGISTRAR OF CREDIT UNIONS, THIS (SUNDAY) EVENING.

DR LAWRENCE

SPEAKING AT A DINNER PARTY TO CELEBRATE THE 1991 CREDIT UNION DAY, DR LEE, WHO IS

HELPED TO LEE, SAID

INTERNATIONAL

ALSO DIRECTOR OF AGRICULTURE AND.

THE GROWTH OF THE CREDIT THEY HAD RESPONDFD про THEIR

FISHERIES, SAID HE WAS VERY PLEASED WITH UNIONS GENERALLY AND THE WAY IN WHICH MEMBERS' NEEDS.

PRINCIPLES OF THRIFT, CONCERN, LEADERSHIP AND MANAGEMENT

"AT THE SAME TIME, THEY HAVE INCUBATED SELF-RELIANCE, DEMOCRACY, SOCIAL SKILL, HE CONTINUED.

++

OF CREDIT UNIONS, FOR

THE THEME CHOSEN BY THE WORLD COUNCIL THIS YEAR'S CELEBRATION IS: "CREDIT UNIONS: PASSPORTS TO OPPORTUNITY"

DR LEE SAID: "THE OPPORTUNITIES OFFERED BY

CREDIT UNIONS ARE

TWO-FOLD.

"ON THE

OPPORTUNITIES TO SAVE, TO

ONE HAND,

CREDIT BORROW QUALITY

OF

UNIONS AT FAIR

LIFE FOR

MEMBERS PROVIDE

RATES INTEREST

WITH

AND

THEMSELVES

AND

THE THEIR

++

THE CHANCE TO IMPROVE FAMILIES THROUGH CO-OPERATION WITH OTHERS.

ON

THE OTHER HAND,

MEMBERS SAID

WERE

OFFERED

THE

HE OPPORTUNITY FOR DEMOCRATIC CONTROL AND MEMBER OWNERSHIP; TO VOLUNTEER TO ELECT THEIR THEIR PERSONAL INVOLVEMENT; TO EXERCISE THEIR RIGHT

AND

OF VOLUNTARY MEMBERSHIP REGARDLESS OWN LEADERS; AND FOR RACE, SEX, CREED, SOCIAL STANDING OR POLITICAL AFFILIATION.

OPEN

UNIONS ARE 'PASSPORT' BY

FI HE SAID.

"THERE IS NO DOUBT THAT THE CREDIT WHICH MEMBERS ARE PROVIDED WITH THESE OPPORTUNITIES,

DR LEE NOTED THAT THE CREDIT UNION MOVEMENT IN BORNE FRUIT SINCE ITS INTRODUCTION IN THE MID 1960'S.

ACCORDING TO OUR RECORDS,

HONG KONG HAD

SOON AFTER THE CREDIT MEMBERSHIP AT MARCH 31, SAVINGS WERE $860,000.

UNION

1971

37 CREDIT UNIONS WERE REGISTERED ORDINANCE CAME INTO

IN 1970. EFFECT

WAS LESS THAN

AND THE 5,500

TOTAL

"TWENTY YEARS

LATER,

ON

THERE 1991,

WERE SAVINGS OF 38,000

REGISTERED CREDIT UNIONS WITH MEMBERSHIP AND $217 MILLION RESPECTIVELY, DEMONSTRATING A VERY HEALTHY GROWTH OF

MARCH

31,

66

AND

THE

MOVEMENT,' HE SAID..

יז

/DR LEE