BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2022 24 Board of Directors’ Report (Continued) Scholarships & Grants Committee met seven times during the reporting period and approved $323,079.00 for disbursement to 214 persons under the belowmentioned categories. Distribution, by category, this year is as outlined below. General Tertiary Level Grants $239 079 00 Annual Academic Awards $69,000 Ralph Boyce Scholarship Awards – 2 @ $7500 $15 00 Barbados Community College Awards (BCC) $0 Samuel Jackman Prescod Polytechnic (SJPP) $0 BIMAP – MOU Educational Partnership $0 Career Development Institute – MOU Educational Partnership $0 Total $323,079.00 Recipients of our 2022 academic awards and scholarships this year are as outlined as an appendix to this report. During the period, two new categories of scholarships were launched, and two Memorandums of Understanding that will provide additional support to members, by securing discounts on tuition fees and joint scholarships, with education institutions were signed. New Scholarships • Overcomer Scholarships – for local Secondary School leavers (3 Annually valued at $2,000.00, $4,000.00 and $6,000.00) − The winning student(s) must have overcome some degree of hardship throughout their schooling, due to extenuating circumstances i.e. academic, socioeconomic or physical hardship, yet demonstrate a level of determination and discipline to persist or overcome despite the challenges. − Student(s) must demonstrate the potential for continued success given the right opportunities and must have an interest in pursuing tertiary level studies immediately after graduation from Secondary School. • Sports and Arts Achievement Scholarships (2 Annually valued at $2,000 each) − This scholarship recognizes students who have excelled in, or contributed to the sports or arts scene at the national level or higher. Memorandums of Understanding • Barbados Institute of Management and Productivity (BIMAP) • Career Development Institute Congratulations go out not only to our special awardees, but also to all of our members who participated in any form of education or personal or professional development. We encourage all of our members to continue to seek out knowledge whether formal or informal. Data Privacy & Protection Barbados has implemented a comprehensive data privacy law, the Barbados Data Protection Act, in recognition of the increasing value of data in the region. The purpose of the Act is to regulate the collection keeping, processing, use and dissemination of personal data and to protect the privacy of individuals in relation to their individual personal data. As well as protecting the digital rights of its citizens, the Barbados Data Protection Act suitably positions Barbadian companies to exchange personal information easily with counterparts in the EU and the US. In line with the requirements of the Act and the responsibility placed upon it as a collector of personal information, your credit union was one of the few local companies to aggressively pursue the objective of compliance with the Act by way of an internal project that is anticipated to finish by April 2024. On conclusion of the project a framework consisting of a fully operational program of policies, procedures and tools will be in place that will: • achieve and maintain compliance with the Barbados Data Protection Act 2019 (BDPA2019) and by extension other international data protection regulations like the European Union’s General Data Protection Regulation (EU GDPR 2016/679). • protect the privacy of all members/clients and employees’ personal data. • guarantee the privacy rights of persons in relations to how the group processes their personal information. We acknowledge and respect your right to have your personal information protected and used fairly, lawfully and transparently for specified, explicit purposes in the manner and context for which it was provided. Once completed this project will ensure we operate in accordance with these rights by ensuring your information held by us is handled in a way that ensures appropriate security, including protection against unlawful or unauthorised processing, access, loss, destruction or damage. We will continue to update you as the project progresses.
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