The Grenada Union of Teachers (GUT) Cooperative Credit Union is this year celebrating its silver anniversary and is boasting of having a solid foundation.
The credit union boasts of having a membership of approximately 3,500, and assets in excess of fifty million dollars.
Manager of the GUT Credit Union, Samuel Britton said the credit union's liquidity has always been very good.
"No member can honestly say that they have come to the credit union for money and they did not get any," he said.
According to Britton, his union has a delinquency rate of less than half of one percent in the past 20 years.
The GUT Credit Union Manager spoke of the local credit union movement being solid."If you put all of the assets of the credit union movement together, we are competing with any of the banks," he said.
The GUT Credit Union is celebrating the Silver Anniversary under the theme, "GUT Credit Union Celebrating 25 Years Of Service To Members In Pursuit Of Financial Empowerment."
The activities to celebrate the anniversary were outlined by the credit union's Senior Loan's Officer, Elsa Baptiste who indicated that the activities planned will centre around the theme chosen for the celebration.
As part of the events, there will be an essay, art and poetry competition which will target students of all primary and secondary schools between the ages nine to 16.
There will also be an Annual General Meeting on March 29, the opening of the Horizon Plaza and GUT Credit Union's annex office on St. John's Street, St. George's sometime during the month of March as part of the anniversary celebration.
A family fun day will be held on March 30, an awards ceremony on April 9, and a Rhum Runner Cruise on May 24 will bring an end to the celebrations.
The recent opening of the Branch Office in Carriacou was also part of the anniversary celebration for the GUT credit union.
