MAR 20

Chairman of the Board of Directors of the Public Services Co-operative Credit Union (PSCCU), Senator Aaron Moses has encouraged members of the movement to actively participate in the running of the organisation.

Moses was delivering the keynote address at the graduation ceremony for 135 persons who participated in the PSCCU "Personal Financial Planning Course" held last Thursday at Norton's Hall in St. George's.

The four month exercise which was held under the theme "Securing Our Financial Future" was aimed at increasing the level of financial competence of members to enable them to manage their personal finances and plan for their retirement years.

Topics covered included Savings & Investment Planning, Risk Management, Retirement Planning and Securing your Estate Planning Objectives. Sen. Moses told the graduates that they must actively participate in the functioning of the Credit Union which is grounded in basic values of self help, honesty and openness.

He referred to the movement as an avenue for the transformation of individuals, communities and the country saying that it not only about savings and loans but that it is part of the way of life of the Grenadian people.

The PSCCU Chairman, who was recently appointed to the Upper House to represent the private sector, expressed the hope that the course was able to provide the graduates with the information and tools needed for sound savings and investments.

General Manager of the PSCCU, Lucia Livingston-Andall who also addressed the Graduation exercise said that she believes if the information the participants acquired in the training was properly put to use, it can improve their lives and that of their families.

She encouraged them to share their knowledge with their co-workers and in so doing they will be true credit union ambassadors in their work places and communities. Facilitator Anthony Isaac described the module as 'broad and applicable' saying that the four month exercise was geared at assisting participants to actively pursue some of the ideas needed for their own self interest and development.

Graduate Paul Belgrave, an employee of the National Commercial Bank (NCB), who spoke on behalf of the group pointed out that he never expected to see over a hundred credit union members so hungry for knowledge on "Personal Financial Planning".

He described the information as "invaluable" saying that it will no longer be business as usual as it relates to the way they handle matters such as personal finances, retirement planning, savings & investment planning among other areas.

Participants who were drawn from both the public and private sectors, were exposed to the principles of cash and debt management relating to personal financial matters and to the risk-return characteristics of various savings and investment options.

They also examined the functions of Life Insurance in wealth accumulation, the role of Wills and Trusts as well as the use of Partnership Agreements.