27 CONSOLIDATED FINANCIAL STATEMENTS 2023 loan restructuring to offer a facility for members who may be experiencing financial challenges The completion of the job evaluation component of the exercise which will determine the revised job grades and scales, and the compensation ranges remains on the periphery of completion. The Group is committed to completing full implementation within the 2023-24 operating period. Thrift Club Our Thrift Club programme had a busy year as we continued to focus on youth engagement, education and empowerment during the reporting period. The Thrift Club Advisory Committee The members of the Thrift Club Advisory Committee serve as advocates for youth services at the Credit Union and also serve as liaisons for youth members in our school societies and community outreaches. The current executive is shown below: Front Row Left to Right - Kaiowa Pile-Durant, Floor Member - Social Media Coordinator; Shauntae Prince - Assistant Secretary; Christianne Spooner – Secretary; Second Row Left to Right - Patriece Savoury-Fergusson – President; Krishonda Miles - VicePresident; Top Row Left to Right - Toshiro Benn – Floor Member, Events and Promotions; Shane Prescod – Floor Member, Financial Empowerment; Thrift Club Membership During the period under review, amendments to By-laws 2(2) & 21 were made to allow for the implementation of a separate qualifying share for members under 16 years of age. These amendments, paired with the previously approved amendment to By-law 13 (1) which removed the age restriction required for Credit Union membership, will allow members under 16 years of age to join with a permanent share of $50 and a membership fee of $5 once implemented. We anticipate that this development will result in growth in this important youth demographic across the Thrift Club membership and the School Savers programme. Thrift Club Events Financial Literacy Workshop A Financial Literacy Workshop for teens 15 – 18 years of age, entitled Money: What’s the Big Deal? was held from July 25 – 29, 2022. Based on the feedback received from the thirty participants and their parents, the workshop which covered the below topics was well received: • Cryptocurrencies, Digital Dollars and the Future of Money • Investing • The link Between Money and Mental Health • Personal Financial Decision Making - Which Financial Products are You Most Curious About? • 10 Steps to Financial Success • Income: Careers and Entrepreneurship Annual Thrift Club Academic Awards During the past fiscal period, the annual Thrift Club Academic Awards ceremony returned in the form of an in-person event for the first time since the onset of COVID-19 on the island. Fifty-eight young credit union achievers were recognized for their outstanding achievements across the various examination categories below at a total investment of Barbados sixty-six thousand eight hundred dollars: • Barbados Secondary Schools’ Entrance Examination (BSSEE) • Caribbean Secondary Education Certificate (CSEC) • Caribbean Advanced Proficiency Examinations (CAPE) • Government Award of Excellence • Government Exhibition • Government Scholarship Recipients of the academic awards and scholarships for the reporting period are shown in an appendix to this report. Congratulations on a job well-done is extended to all awardees on their special achievement and to all members who took up the challenge of enhancing their knowledge through any form of study and learning, whether in a formal or informal setting. The attainment of knowledge remains critical to self-development and plays a pivotal role in empowering individuals and transforming societies. May your journey in both be rewarding and successful! Data Privacy & Protection As noted in last year’s report, the Barbados Data Protection Act, 2019 (BDPA) was promulgated locally to regulate the collection, keeping, processing, use and dissemination of personal data by business entities. In order to develop a roadmap that would allow
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