Consolidated Annual Report 2019

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2019 15 through which members or the general public can support the Foundation’s work. These donation channels include the following: 1. Donation collections boxes (in-branch) 2. Direct deposit to a GL account at any branch of BPWCCUL 3. Direct deposit to the Foundations bank account at RBC Royal Bank of Canada • The Foundation evaluated a number of applications during the reporting period. Funding was provided for the following: a. Awarded scholarships to four (4) young men with special needs to participate in an educational programme and innovative platform to provide skills in the construction industry with Lifelong Skills Academy Inc. b. Awarded Get-An-Advantage Academy, an entity with a focus on inspiring breakthroughs in the way secondary children learn. c. Provided a service contract with Pentax Medical for the maintenance of equipment purchased for the Gastroenterology Unit at the Queen Elizabeth Hospital, a project funded in 2015. d. Expedited a partnership with the Barbados Kidney Association, which included the donation of ten (10) dialysis chairs and an ECG machine to the Dialysis Unit at the Queen Elizabeth Hospital (QEH) along with an extended three year agreement with the Association, to support their education and outreach initiatives with respect to renal issues. Legacy Foundation will continue to learn and adapt in order to improve the lives of the Credit Union membership and the wider community and recognizes that communication and engagement is central to achieving the Foundation’s strategic objectives to be effective. Our plans for the future include: 1. Specific and targeted community impact 2. Grant making that is both broad and deep 3. Financially sustainable operating model 4. Maximum integration of effort and resources CORPORATE REDESIGN The corporate redesign exercise continued during the year under review with the strategic intent to reposition the BPWCCUL, its subsidiaries and affiliated companies to be market leaders in the financial services industry within the region. We will continue to work through the redesign exercise to ensure that the corporate structure is optimized in a manner that realises this goal. LOOKING AHEAD 2019 The Credit Union’s 50th Anniversary in 2020 is less than one year away and we have begun the process to plan for this significant landmark. Who would have thought when this noble institution commenced back in 1970, that it would have stood the test of time to become an indigenous icon and a beacon of hope and pipeline for success for so many that have entered its doors. It goes without saying that our founding visionaries were on the correct tract when this institution commenced and so, as we enter into our Golden Jubilee we look forward to your support of the activities that will be planned and for your continued support of the Credit Union. As we look to the future of our organisation, it is our goal to continue to work with you hand in hand to provide relevant and efficient services, albeit when faced with changes in technologies, regulations and the needs of our members. The Credit Union is aware of the need to remain relevant, competitive and accessible and as members of the Board of Directors, we give you the assurance that we stand by our slogan “This is where you belong”, for the essence of belonging, connotes that one has somewhere to go, to be part of, to fit in and to be in the right place. Fellow members, you are in the right place, for it is in this organisation that we strive to ensure that your financial goals are met, that you are supported in your endeavours and that you can reach out to us, in times of difficulty. ACKNOWLEDGEMENT The Board of Directors wishes to extend gratitude to members of the elected committees, our committed staff, sub-committees and of course, you, our members for the commitment, perseverance and resolute support of the achievement of the Credit Union during the year under review. The Board of Directors wishes also to place on record appreciation for the immense contribution, devotion and commitment of retiring directors Bro. Trevor Colucci, Sis. Julie Corbin and Sis. Kerry-Ann King. CONDOLENCES We take this opportunity to extend condolences to those of the Credit Union family, who lost loved ones during the past year. BOARD OF DIRECTORS REPORT