Name change for Caroni credit union

The name change was finalised at the organisation’s recent Annual General Meeting on Thursday.

President Ellis Holder explained: "It was significant that at one time we were operating near the compound of the Brechin Castle Sugar Cane Factory, where dues were deducted from salaries. Now we have shifted our office to 212 Southern Main Road, Couva, and because we no longer have a sugar base, we have to open our doors to the wider community, hence the change of name."

"Circumstances have changed and we have got to change too in order to survive."

Holder said the Society’s current total assets of $9,300,344 was a significant drop from the 2003 figure of $15,485,351. He said this was understandable since the organisation was badly affected by the closure of Caroni (1975) Limited, losing some 2,900 members. Current membership is 616, with 227 new members joining last year.

Two young people, Darren and Ferisha Mohammed, the children of Edun Mohammed, secretary of the Loans Committee, were presented plaques for attending the last four AGM’s of the Society.

"This is an indication of their devotion to credit unionism," Holder said.