Message from the Chairman
Our credit union is facing an exciting crossroads; the greatest period of challenge and opportunity known to the movement is within our grasp and is to be embraced over the next few months. There is a need for an active and informed membership, a board that is able to build on the preparation and planning of the previous few years, the need to ensure we remain relevant to the current and potential membership.
All of this is with a backdrop of a severe economic downturn that has left many members and the wider population of this country with more complex and pressing financial concerns than they have possibly ever had to address.
The good news is that credit union is available to help!The board has welcomed the seven month period of robust consultation with the membership at the regular monthly sessions. Together we have made our first steps to formulate and agree a corporate strategy that addresses the challenges known to the credit union, including
Reaching out and gain membership from the younger, professional community within the comon bond area
Addressing issues of poor accountability and transparency of the previous board membership
Communicating in the most modern ways the benefits and financial solutions available to members
Reviewing and refreshing our policies to meet the current and changing financial needs of our membership and potential new members
Including a broader range of engagement methods at the monthly meetings
Board processes to ensure the credit union continues to comply with the regulatory requirements
Board development and training to continue to embed issues of Corporate Social Responsibility and Sustainability
Events and activities that build a wholesome community spirit and fellowship
Board Training to incorporate recent credit union Corporate Governance guidelines
Exploring opportunities for partnership arrangements with other organisations where we can offer mutual benefit to our current and potential membership
All of the work so far has been to ensure that the credit union is fit for purpose not just in the current economic climate but also in the future. The credit union will need to focus on the main functions of its service as we continue to ensure our future sustainability.
Our London Adventist Credit Union has retained its position of solvency as will be seen from the Audited Accounts for the year. We retain our commitment to getting the basics right as we build up and reach out with our services to the membership.
We value the continued membership and the good ideas and support that continue to be received. We are especially grateful to those membersd who have contributed to the new consultation conducted by the board over the last six months.
As we go forward we will continue to inform our members how well we are meeting targets and objectives set for the credit union.
We thank you for your continuing support
Planning for prosperity, preparing for eternity.......
Deborah Harris-Ugbomah, Board Chairman & President
9 March 2009 |
