Plan to revive co-ops
IMPROVED LEADERSHIP and a co-operative bank are two solutions identified to help revive the co-operative movement in Barbados.
President of the Barbados Co-operative & Credit Union League Ltd (BCCULL), Hally Haynes, said, unlike credit unions, co-operatives had not had a high level of qualified management.
“Credit unions are financial co-operatives while the other co-ops are what we call producing co-ops – taxis, fisheries and consumer co-ops – but what has been happening over the years is that we have spent a lot of time developing the credit union movement with paid management and expertise on their boards, as well as concessions.
“What has happened with the non-financial co-operatives is that we need to look at their level of management and expertise as we need to build their capacity in order for them to come up,” he said.