CONTENTS Organisational Structure . . . . . . . . . . . . . . . 3 Our Leaders Barbados Public Workers’ Co-operative Credit Union Limited . . . . . . . . . . . . . . . . . . 4 Legacy Foundation . . . . . . . . . . . . . . . . . . . . 6 Allied Co-Operators Incorporated . . . . . . . 7 BPW Financial Holdings Inc . . . . . . . . . . . . 8 CAPITA Financial Services Inc . . . . . . . . . . 8 CAPITA Insurance Brokers Inc . . . . . . . . . 10 Consolidated Financial Highlights . . . . . . 12 Management Discussion & Analysis . . . . . 14 Board of Directors’ Report . . . . . . . . . . . . 20 Independent Auditors’ Report . . . . . . . . . 32 Consolidated Financial Statements . . . . . 36 Digital Transformation As we continue to navigate and manage the intricacies of a rapidly evolving financial services landscape and the challenges that come with it, we remain conscious of our responsibility to meet the growing demands of members while competing with a new range of non-traditional competitors. The Barbados Public Workers’ Co-operative Credit Union Ltd has determined that digital transformation is an inevitable response to this challenge; successful execution of which will position the credit union for long-term success and growth. On completion, members can anticipate an enhanced experience that allows for the delivery of more personalized, efficient, and secure services regardless of the preferred method of interaction. This will include seamless integration from any device, at any time and from any place as geographical barriers, not in-person activities and lengthy processes become less of a challenge in the new framework that will make doing business with us easier than ever. Embrace the future with us as we set off on this journey to empower you with modern tools to meet your evolving needs and expectations. Together, we will chart new paths that will help you to achieve your financial goals with greater ease, convenience and flexibility.
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