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 . . . . . . . . 22 Independent Auditors’ Report . . . . 40 Consolidated Financial Statements 44 A Tribute to Sister Olive Trotman Celebrating Humble Beginnings, Big Dreams: A Tale of Success In the archives of our Credit Union’s history, one name stands out with enduring reverence – that of our beloved Sister the late Olive Trotman. A retired nurse of the Psychiatric Hospital, Sis. Olive’s Credit Union journey began in 1969, a time when visionaries like her carried the torch of financial empowerment. Sister Olive’s duty in her early days was to collect the deposits including registers and receipts, of the Civil Service Saving Society, the organisation from which BPWCCUL was born. Sis. Olive tirelessly visited the Government Treasury once, sometimes twice a week with the now infamous brown “valise” in hand. Armed with the “valise”, Sis Olive embodied tenacity and dedication, qualities that would shape the very ethos of our institution and would lay the foundation for our now billion-dollar enterprise. Through her unwavering commitment, Sis. Olive became one of the cornerstones upon which our values were built. Even in her retirement at the age of 70, Sis. Olive continued to serve and contribute to our Credit Union. Sis. Olive was a member of the Credit Committee having served from 1976, first as Chairman, Secretary and then as a member. In her words, Sis. Olive described her contribution as very rewarding, noting “lots of cars, trucks and small businesses have come out of Credit Union savings.” As we pay tribute to her invaluable contribution, we honor Sister Olive Trotman’s enduring legacy. Recently the “valise” was relocated and given pride of place and prominence in Clarence Greenidge House at the Credit Union’s headquarters at Belmont Road. Sis. Olive’s spirit continues to guide us, reminding us to uphold the principles of integrity and service that defined her tenure. In her memory, we pledge to continue to carry forward her vision, ensuring that our Credit Union remains a beacon of hope and opportunity for all.
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