President lays plans to move credit union forward

ASCU president Brian Matthew said the plan “to chart the way forward” for the credit union actually began almost a year ago, and was essential because, “amidst the subdued economic conditions domestically,” the credit union must be seen as growing. For the effective implementation of the plan two committees have been formed, comprising Board members and some management personnel.

In outlining the strategic plan, Matthew said it was leading ASCU along a growth path by “adopting prudent measures to stimulate and enhance our revenue while effectively containing our cost”. He said it identified several areas that required the attention of the committees and outlined four areas of immediate deliberate focus – customer satisfaction, membership engagement, employee capability and revenue growth.

Speaking about the progress made so far, and particularly in the area of customer service, he said, “We (committees) have steadfastly moved towards improving our product offerings to you by ensuring that we facilitate easier access to our office and placing a high priority on our customer service delivery.

“New and innovative methods have been initiated to meet the needs of our members in all the communities we serve and we continue to explore newer and more effective methods.”

“In this regard,” he added, “We urge all our members to embrace our technology interventions and make full use of the products like the Aero Access facility, through which a wide range of requests can be made. These include, but are not limited to, balance inquiries, transfer of funds and requests for statements on member accounts.”

Matthew pointed out that apart from social media interventions like Facebook, Twitter and Instagram, and the strengthening of the team with two additional telephone operators, he was pleased to announce that the Telecommunication Services of Trinidad and Tobago business relationship was improved by connecting to “the fibre optic network, exploring additional telephone lines and improvement of our website”.

Matthew said refurbishment work was currently in progress at the credit union’s main office on Orange Grove Road, Tacarigua – upgrading the overall bathroom facilities; the reception area and the general work space for the staff. Plans are also advanced for additional bathrooms and other improvement work at the sports complex on Factory Road, Piarco. Improvements to the sports facility will include new signage, work improvement to the playing field with a better drainage system, and better lighting around the entire complex. “Our objective is to enhance the appearance and functionality of the facility to not only retain existing clients, but to also attract new clients as we strive to improve our revenue earning potential.” The credit union has also created a booking platform on the ASCU website so that rental requests can be more easily made.

Regarding the proposed credit union legislation, Matthew said ASCU continued to consult with stakeholders on the proposed legislation. Last year two consultations were held to discuss the Cooperative Societies Amendment Bill (CSAB) and the Credit Union Bill. A draft National Policy on Co-operatives was prepared and disseminated to key stakeholders for feedback by the end of August. “As we strive to stimulate loan demand, we are making every effort to bring competitive products to you, our valued members. We implore you, however, to partner with us as we strive to enrich the quality of your life. We will again offer attractive loan interest rebates to our members who participate in our loan products, which is by far the largest contributor to our revenue base.” The credit union declared an interest of 5.25 percent on shares for 2016.