13 SEPARATE FINANCIAL STATEMENTS 2024 and convenient digital solutions, and to meet these expectations we plan to enhance our current mobile and online banking platforms and introduce new features that improve user experience, increase transaction security, and provide more personalised financial tools. Strengthening Financial Health and Inclusion Our commitment to financial inclusion remains our bedrock and cornerstone. In the upcoming year, we will expand our financial literacy initiatives, and will offer more educational content, workshops and webinars to help our members make informed financial decisions. We will also continue to review our savings and loan products to ensure that wherever possible we meet the diverse needs of our membership through products designed to provide support at every stage of our members’ financial journeys. Sustainable Growth and Community Engagement Sustainable growth is essential for the long-term success of our credit union. In 2024-2025, through targeted outreach and partnerships, we aim to continue to seek out those who can benefit from membership so we can seek to introduce them to the credit union and welcome them into our credit union family. Additionally, as our contribution and to play our part in ensuring Barbados delivers on the Sustainable Development Goals (SDGs) 2030 Agenda we will explore opportunities to support environmentally sustainable projects and offer green finance options to our members. Regulatory Compliance and Risk Management In an ever-changing regulatory environment, maintaining compliance and managing risk are paramount. We are committed to continuously monitoring and adapting to new regulations to ensure that we remain compliant with regulatory requirements while concurrently protecting our members’ interests. By adopting robust risk assessments and risk mitigation strategies, we will continue to safeguard the financial health of members, our credit union and the wider financial services sector. Collaboration and Sectoral Development The success of the wider credit union movement is inextricably intertwined with the success of our credit union. In the coming year, we will continue to foster strategic partnerships from our position of leadership and, where it does not cause a conflict or negatively impact our operations, will collaborate with other credit unions and financial institutions to drive innovation, potentially through shared services, for the benefit of all. We will also become greater advocates for the credit union movement by actively and visibly participating in forums that promote the benefits of credit unions to a wider audience. 2024-2025 promises to be a period of growth and positive change. We are excited about the opportunities ahead and are confident that, together, we will continue to build a stronger, more resilient credit union that meets the needs of our members and our community – a credit union where every member can proudly say, “This is where I belong.” Thank you for your continued trust and support as we embark on this journey forward.
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