Way to go

Consultant Sir Courtney Blackman (right) and credit union executive Hally Haynes yesterday outlined plans for the formation of a locally-owned commercial bank. (Picture by Ricardo Leacock.)

By Mike King | Mon, May 28, 2012 - 12:09 AM

CAPITA Financial Services should be transformed into a cooperative bank.

This is the recommendation of former Governor of the Central Bank of Barbados, Sir Courtney Blackman, who has been commissioned by the local credit union movement to do a feasibility study on the proposal.

Details of his proposals where outlined on Saturday to constituents of the Barbados Cooperative & Credit Union League Limited and he spoke to the media yesterday on the matter.

And, rather than set up a new bank, Sir Courtney has suggested that the credit unionists use Capita, which is owned by the Barbados Public Workers’ Cooperative Credit Union, to achieve their goal.

Read the full story in today's DAILY NATION.

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Posted by Pan Wallie 11 months, 3 weeks ago: You may also have to remind them, Sir Courtney, that first and foremost, it is a credit union and as such they need to put this proposal to the membership for a vote. If it comes to fruition, I hope all the ills that now dogs this credit union will be corrected. Credit unions (like NIS) will not stand if they are allowed to operate like family businesses, meat shops or charities.