16th OECS Credit Union Summit | 1
16th OECS Credit Union Summit | 2 DAY 1: Wednesday, October 4th , 2023 Opening Ceremony (9:00 am – 10:30am) Welcome Remarks: GCLL President Brief Remarks: ❖ Mr. Phoenix Belfield, General Manager, Dominica Cooperative Societies League Ltd ❖ Mr. Hally Haynes, President, Caribbean Confederation of Credit Unions Brief Statement ❖ Senator The Hon Adrain Thomas, Minister for Cooperatives, Government of Grenada Pan Music Interlude Keynote Address: ‘Enlarging the Footprints of Indigenous Financial Institutions amidst Regional and Global Trends’ By: Mr. Michel D. Williams, Senior Accountant, Financial Consultant and Business Adviser. B. R. E. A. K (10:30 am – 11:00am) Plenary Session: (11:00am – 12:30pm) ‘From Vision to Dividends … …the Future of the Credit Union Business Model’ Presenter: Dr. Maxine Wilson L. U. N. C. H (12:30pm – 1:30pm) Delegates’ Sharing: (1:30pm – 2:15pm) Success stories Solutions to problems/issues search Business Sessions: Special Presentation: (2:30pm – 3:30pm) ‘Wealth Creation and Member Prosperity’ by Mr. Mervyn Lord Roundtable: (3:40pm – 4:50pm) The Young Member and the Future of the Credit Union Movement... ‘Vision, Voice and Value’ by Mr. Levon Murray, Mr. Stephen Calvin Antoine, Dominica Delegate ~ Day One Ends – 5:00 pm ~ Welcome Party: ‘H’APPETIZER’ @ 7:30 pm
16th OECS Credit Union Summit | 3 DAY 2: Thursday, October 5th , 2023 (9:00 am) Roundtable: (9:15am – 10:30am) ‘Entrenching a Compliance Culture... Investments and Rewards’ Panelists: Mr. Tafawa Pierre and Mr. Dennison Slocombe B. R. E. A. K (10:30 am – 11:00am) Second Plenary Session: (11:00am – 12:30pm) ‘Reinforcing Governance and Re-engineering Management Systems: A Change Perspective.’ Presenter: Mr. Aaron Moses L. U. N. C. H (12:30pm – 1:30pm) Delegates’ Sharing: (1:30pm – 2:15pm) Success stories Solutions to problems/issues search Roundtable: (2:15pm – 3:40pm) ‘Credit Unions as Employers... collective agreements, human resource management issues, and retirement packages’ Panelists: Mr. Bernard Antoine, Ms. Valerie Thomas, Mr. Louis A. Williams Clinics: (3:45pm – 4:45pm) Financial Technology Solutions … Mr. Chad Fraser IFRS 9 family of accounting requirements … Mr. Michel D. Williams ~ Day Two Ends – 5:00 pm ~ …Find Your Fun …
16th OECS Credit Union Summit | 4 DAY 3: Friday, October 6th , 2023 (9:00 am) Sponsors’ Presentations: (9:15am – 10:30am) CORP-EFF - Platinum Sponsor D Cash – Silver Sponsor First Citizens Investments Services – Silver Sponsor B. R. E. A. K (10:30 am – 11:00am) Roundtable: (11:00am – 12:30pm) ‘Strategic Growth Prospects...Investments and Innovation’ Panelists: Mr. Devon Charles, Ms. L Vanessa Conner, and Christopher De Allie L. U. N. C. H (12:30pm – 1:30pm) Presentation: (1:30pm – 2:30pm) ‘Cutting-Edge Credit Union Marketing’ Presenter: Ms. Kimalene Regis Special Presentation: (2:30pm – 3:50pm) ‘New Accounting Standards and their Impacts on Credit Unions’ by Mr. Andrew T. Price ~ Day Three Ends – 4:00 pm ~ Grenada Hospitality Night (7:30pm – Midnight): ’Park-Out’ Bring your style, talent, and music!!!! ………………………………………………………………………………………………………………. DAY 4: Saturday, October 7th, 2023 Tours/Beach/ Shopping @ 9:30 am Closing Ceremony and Dinner @ 7:00 pm
16th OECS Credit Union Summit | 5 Our Topics … Presenters … Panelists ‘From Vision to Dividends … …the Future of the Credit Union Business Model’ Three things motivate Credit Union members; the payment of dividends due to them as owners, smooth access to various financial services, and warm and accommodating treatment. Behind the scenes, high-level personnel settle the Vision and manage the business systems in order to produce success which in turn benefits members. We consider what is required and involved to justify and fulfill members' expectations. In the process, we examine and probe the credit union business model for relevance and its ability to generate strong revenue streams and enhance shareholder value in the foreseeable future. No model is immutable. Therefore, prudent, compliance-proof modifications may well be good for business. PRESENTER: Dr. Maxine Wilson is a veteran of the Jamaican credit union movement, having served that movement for over 40 years. She is presently the General Manager of Palisadoes Co-op Credit Union Ltd, a position she has held for the last 27 years. She has a comprehensive knowledge of General Management, Organizational Behaviour, and Corporate Governance. Her areas of focus include but are not limited to Strategic Planning, Corporate Social Responsibility, Development of organizational policies and procedures, and Financial Counselling. She is the holder of a Doctorate in Business Administration from the Atlantic International University, a Master of Business Administration from the University of New Orleans, A Bachelor of Law (Honours) degree, and a Bachelor in Banking and Finance degree both from the University of Technology of Jamaica.
16th OECS Credit Union Summit | 6 ‘Reinforcing Governance and Re-engineering Management Systems: A Change Agenda’ Credit Union operations are generally ordered by statute and executed through good business practices. Time that we bring new thinking to bear and deepen our understanding of the restrictions imposed by statute and the role governance must play for business success and the protection of members’ trust. Management systems, like other areas of Social Science, keep evolving for greater efficiencies and beneficially sustainable results. Are there recognizable changes in the marketplace? Can we envisage change on the horizon that can be made to work to our benefit as credit unions? Is there an opportunity to make our own purpose-driven change? PRESENTER: Mr. Aaron Moses a director of Caribbean Confederation Credit Unions (CCCU) for ten years and is a past President. Prior to joining the CCCU board, Moses served as President of the Grenada Public Service Cooperative Credit Union, President of the Grenada Cooperative League, Chairman of the Eastern Caribbean Central, President of the Grenada Chamber of Commerce, Deputy President of the Senate, and a director of the World Council of Credit Unions for seven years. Moses has considerable Public, NGO and Private Sector experience serving at the parliamentary, policy, leadership, advocacy and managerial levels in Government, Development Banking, Manufacturing and Telecommunications sectors. He is currently a Business Consultant and Grenada’s Ambassador to CARICOM and Commissioner to the OECS. The Young Member and the Future of the Credit Union Movement... ‘Vision, Voice and Value’ Every member has a vested interest in his/her credit union. The young member has the additional duty to prepare for the future. Credit Unions
16th OECS Credit Union Summit | 7 will do well to listen to the voice of youth and respond constructively to what they have to say. Tomorrow’s leadership and management of credit unions will come from the young members of today. The center stage is where the young member should always be, developing a culture of ownership, trust, volunteerism, responsibility, and securing long-term success. PANELISTS: Stephen Calvin Antoine is a young, charismatic individual who prides himself in always delivering everything he does with top quality and excellence. At age 15, he started his first business by using his personal computer to generate customized music CDs, and websites. He also did computer repairs. After finishing his secondary education, he studied Information Technology at T.A Marryshow Community College and then the St. George’s University where he obtained a bachelor’s degree in information technology. Mr. Antoine started his professional career as a teacher at age 17. He is now Director & PRO of one of the most successful non-financial cooperatives in Grenada, as well as being an active member of NEXA Credit Union. Stephen continues to exhibit an entrepreneurial spirit with interest in real estate development. Mr. Antoine gives all credit for his success to the Almighty God and the continued support of his credit union. Mr. Levon Murray, St. Vincent & the Grenadines ‘Entrenching a Compliance Culture... Investments and Rewards’ The global financial system reaches into our island credit union systems in significant and inescapable ways. The system demands compliance with various standards, processes, and procedures. It also imposes specific verification tests. Our topic aims to provide clarity on what is required and why. Compliance is costly, but much can be lost if we cheat the investment requirements.
16th OECS Credit Union Summit | 8 Credit unions are financial institutions whose eco-system includes a wider range of financial providers that are themselves regulated. So, New? Yes! Mandatory? Yes! Costly? Yes! Avoidable? No! Beneficial? Yes! PANELISTS: Mr. Dennison Slocombe is a professional with a passion for fostering economic sustainability and financial integrity. Holding a master's degree in Ecoefficiency and a licentiate degree in Economics, Dennison brings a wealth of knowledge and expertise to his roles. He has also undergone certified training in Anti-Money Laundering, Risk Management, Data Analytics, and financial investigation among other areas. As the Head of the Compliance Unit at the Grenada Cooperative League Ltd., Dennison leads a dynamic compliance team dedicated to providing vital support to smaller credit unions. His role extends beyond compliance, as his team spearheads collaborative initiatives focused on credit union digitization, stabilization funds, and cooperative development. Dennison is passionate about financial management, AML/CFT compliance, and personal development, and he has been a presenter in various workshops for Credit Unions, NGOs, and Insurance brokers. His contributions to these fields have made a positive impact on the sector. Tafawa Pierre, Grenada
16th OECS Credit Union Summit | 9 ‘Credit Unions as Employers... collective agreements, human resource management issues, and retirement packages’ Our Credit Unions employ hundreds of persons in roles from management professionals to technicians and support staff. This fact may have drawn or will eventually draw trade unions into our space. How well are we doing? What do we need to learn? What are the implications for attracting and retaining quality human resource assets? And what about our reputational integrity at the retirement stage? How ought we to treat our staff? These issues go to the heart of the credit union business. The institution is the structure, but the human resources are the capacity that produces and sustains pleasing financial results. PANELISTS: Mr. Bernard Antoine has been a Human Resource professional since 1988. He works in the Public and Private sectors in Grenada, Barbados, and St. Lucia. Ms. Valerie Thomas is widely recognized for her outstanding contributions as an advocate for labour and labour relations. She is highly regarded for her exceptional leadership abilities, strong negotiation skills, and unwavering dedication to promoting and protecting workers' rights. With a strong educational background, and a wealth of professional experience, she has made significant contributions to the labour movement in Trinidad and Tobago. Valerie Thomas's exceptional commitment to her studies did not go unnoticed. She received the Cipriani College of Labour and Cooperative
16th OECS Credit Union Summit | 10 Studies' Most Outstanding Student Award in Labour Studies in both 2012 and 2014, showcasing her dedication to academic excellence. Valerie's career has been marked by a series of remarkable achievements. Her work experience includes preparing Collective Agreement proposals on behalf of bargaining unit members and negotiating new terms and conditions of employment. She has also been instrumental in resolving workers' grievances at various stages, from bilateral discussions to conciliation and arbitration. Mr. Louis A. Williams is an experienced professional who has amassed more than thirty-six (36) years of experience in the fields of Accounting and Finance at prestigious local and regional institutions. He is an alumnus of the University of Camaguey, Cuba, and the University of Leicester, England, and holds post-grad qualifications in accounting and finance. Since his retirement, Mr. Williams has leveraged the extensive knowledge acquired during his time employed at the NIS, to further his passion for educating working individuals about retirement packages. He is currently a Financial Advisor with a leading Life Insurance Company, where he recommends and provides retirement packages to prospective clients. Mr. Williams has a long history of involvement in the Credit Union Movement. While working at the GCNA, he served as President of the then-work based GCNA Credit Union. He also served as Treasurer of the Grenada Credit Union League. He is the current President of the newly re-branded NEXA Credit Union, formally GUT Co-operative Credit Union. ‘Strategic Growth Prospects...Investments and Innovation’ Growth is never assured by virtue of existence alone. Appropriate strategies, plans, and policies are needed to ensure that credit unions grow consistently and sustainably in this post-COVID period, especially. A credit union that fails to grow is a failed financial institution!
16th OECS Credit Union Summit | 11 Attention must be paid to economic policy shifts by governments, the issue of digitization, and the potential impacts of artificial intelligence. We share perspectives on this vital subject and the criticality of appropriate investments and innovation for competitiveness and the production of strong financial results for members’ benefit. PANELISTS: Mr. Devon J. Charles is the General Manager of the Grenville Cooperative Credit Union in Grenada. He has over twenty years of leadership experience in management, finance, and strategy along with several directorship appointments both locally and regionally. Mr. Charles is a Chartered Accountant certified by (ACCA) Association of Charter Certified Accounts. He holds a Master of Business Administration (MBA) in Global Finance from the University of Derby, Master of Science (MSc) in Professional Accountancy from the University of London and a Diploma in Strategic Management and Leadership from Chartered Management Institute. He is also, a Chartered Director with several professional qualifications including Executive Leadership, Performance Leadership, Change Management, Strategic Leadership in Credit Union Management, Debt Collection Strategies and Techniques, International Auditing, International Financial Reporting Standards (IFRS) and Environment Social and Governance (ESG) Reporting. L Vanessa Connor brings an accomplished and extraordinary professional career, spanning over 25years of financial expertise, financial and banking software consulting, and human resources development. Completing her MBA from Liberty University in 2010, Mrs. Connor built upon ten years of banking and financial services degrees, including her Bachelor of Commerce from Nipissing University in Canada and the prestigious Graduate Diploma in Banking from the University of Madison, Wisconsin.
16th OECS Credit Union Summit | 12 Over the last 20 years, Mrs. Connor developed her management and leadership skills while gaining expertise in business operations, commercial financing, budgeting and audits, financial planning and reporting, banking software implementations, and human resources development. Mrs. Connor, a native of Anguilla, is a born again Christian, wife and mother. Through Prestige Consulting, Mrs. Connor currently manages a diverse portfolio of Caribbean clientele on a contractual basis. Mrs. Connor is also the Founder and Managing Director of Liberty Cooperative Credit Union, Anguilla. Mrs. Connor conducts financial training sessions formally and informally and also facilitates one-on-one financial planning and wealth building sessions. Mr. Christopher De Allie has been the Managing Director of Sissons Paints Grenada Limited for the past 25 years. A Chemical Engineer by profession with a background in accounting, Mr. De Allie has been successful in guiding the Company to achieving the GCIC Manufacturer of the Year Award in 2011. Mr. De Allie has served on several Boards in Grenada and as a Private Sector Representative in The Senate in the position of Deputy President. A past President of both the GEF and the GCIC Mr. De Allie continues to advocate the interest of the Private Sector in many areas of concern. Has been certified as a mediator since 2005 and has been the President of the Mediators Association for the last ten years. Is a member of the Committee of Management for Mediation and has been engaged in many campaigns for the promotion of Mediation at all levels of the society. Special Presentations: ‘Wealth Creation and Member Prosperity’ There is an important and empowering difference between mere savings or financial literacy and wealth creation. Here, the member is challenged
16th OECS Credit Union Summit | 13 on how to accumulate value and earn more beginning with the little or whatever is in his/her hands. Investment plus! Our topic will open minds to what is materially possible! It promises to be exciting, motivational, and timely! Mr. Mervyn Lord brings a wealth of experience spanning over twenty (20) years primarily in the financial sector. First as General Manager of the Grenada Development Bank from 2008 to 2022 after which he assumed the position of CEO of Ariza Credit Union. Mr. Lord possesses a multiplicity of financial and strategic management skills as evidenced by a first degree in Business Administration with a major in Management from Andrews University, USA, and a Master’s degree in Accounting and Finance from Birmingham University, UK. He has also obtained several high-level certificates in leadership and continues to immerse himself in various self-development and mentorship programs. He is passionate about macro-economic sustainability, business development, leadership, and wealth creation and has also managed and operated his own business enterprises and investment instruments. Mr. Lord strongly affirms the principles of wealth creation and continues to avail himself to coaching individuals and business owners towards financial freedom. He believes that he has a responsibility to change the dynamic and status quo since wealth creation is not generally in the school curriculum. ‘Cutting-Edge Credit Union Marketing’ This presentation will lay bare the marketing function so that members understand what is being promoted or sponsored and why. Competition within and outside the sector intensifies on a regular basis. Marketing is a ‘must do’, but it must be done effectively and exceptionally well. It addresses the invitation, the promise, and the consummation!
16th OECS Credit Union Summit | 14 We will look at a variety of marketing options and tools capable of attracting additional business and keeping customers/members happy. Marketing is a visible and directional hand towards the loans spot and a very happy spot of dividends. PRESENTER: Kimalene Regis is an entrepreneur and creative thinker who is on a lifelong journey to experience excellence and happiness in all areas of her life. Kimalene has a Master’s in Project Management, and a Bachelors in Communications, and adds to her list of skills: teaching, training, and events management. Always in pursuit of a challenge, she established Kimalene Regis Consulting in 2020 to further explore a career in Marketing and project management as an avenue to create success stories for businesses through the generation of synergies between business processes, image, and branding. A former Manager of Marketing, Communications and Member Care of Ariza Credit Union, she has worked to redefine Financial Services Marketing in Grenada. As the Principal Consultant at Kimalene Regis Consulting, Kimalene works. With indigenous banks and credit unions to find their unique path to achieving business goals while staying connected to and engaging with their communities, authentically. Clinics: Financial Technology Solutions In the ever-evolving financial landscape, Fintech Technology Solutions has emerged as indispensable for credit unions. We probe the transformative significance of Fintech in the face of growing competition
16th OECS Credit Union Summit | 15 within and beyond the financial sector. Fintech bridges the gap between traditional financial services and modern digital expectations. Discover how it enhances member services and staff capabilities thereby driving growth, resilience, and member satisfaction. PRESENTERS: Mr. Phoenix Belfield is an Economist, a leader, and a motivational speaker and is recognized as one of the most prominent voices advocating for Credit Unions nationally & regionally. Mr. Belfield is the General Manager of the Dominica Cooperative Societies League Ltd. and oversees the implementation of key strategic initiatives of the movement that will transform the financial landscape in Dominica. He credits good governance and strategic management as key tenets for cooperative and corporate development. Chad Fraser, Sonover, Grenada IFRS9 and family... alternative option for credit unions We receive schooling on the accounting and auditing requirements imposed on Credit unions under the ‘IFRS9 and family’ of measures currently prevailing across the sector. However, we engage expertise on an alternative model that credit unions should find more suitable to their scale of operation and more advantageous to their bottom lines. The outputs might well trigger our advocacy function for a new policy in favor of such a standard to be implemented across the sub-region.
16th OECS Credit Union Summit | 16 PRESENTERS: Michel D. Williams, CPA, CGA, FCCA, CM&AA, C.Dir, M.CIoD Holds the designation of Certified Professional Accountant (British Columbia, Canada), Certified General Accountant (CGA- Canada), Fellow Certified Chartered Accountant (FCCA-UK), Certified Merger & Acquisition Advisor (CM&AA-USA). He also holds certificates in Executive Leadership from Cornell University and New York University. Michel is a Chartered Director and a Member of the Caribbean Institute of Directors. He is also a member of the Institute of Chartered Accountants of the Eastern Caribbean and the Institute of Chartered Accountants of Barbados. His previous appointment includes Assistant General Manager of National Bank of Dominica, President of the Dominica Bankers and Financial Institution Association, President of the Eastern Caribbean Currency Union Bankers Association, Board Member of the Caribbean Association of Indigenous Banks and Board Member of Caribbean Union Bank. He has also served on the ECCB Payments Council and the ECCB Bankers Committee. Mr. Williams has advised business and financial institutions throughout Caricom and in several countries in Africa. He has also structured international financial transactions in Norway, Dubai and Morocco. He has worked as a consultant with the Caribbean Development Bank (CDB), Caribbean Export Development Agency (CEDA), Development Banks throughout Caricom and Credit Unions in the Eastern Caribbean. Mr. Williams is a Strategic Partner at Homestrings Inc in Washington DC, facilitating engagements with Caribbean and African Diaspora. He is also the Co-Manager of the Caribbean Project Preparation and Investment Platform (CPPIP) under the Caribbean Association of Investment Promotion Agencies (CAIPA). He is Dominican by birth and resides in Barbados.
16th OECS Credit Union Summit | 17 Mr. Andrew “Andy” T. Price currently serves as the Sr. Vice President of Advocacy/General Counsel for the World Council of Credit Unions where he engages in advocacy on behalf of credit unions worldwide before the various international standard-setting bodies such as the Basel Committee on Banking Supervision the Financial Action Task Force, and others. Andy combines years of diverse experience in the credit union industry having served as General Counsel for First Commerce Credit Union and engaged in advocacy and lobbying for credit unions at both the Credit Union National Association and the League of Southeastern Credit Unions. He holds his Juris Doctor from Nova Southeastern University and a Bachelor of Science in Legal Studies from the University of Central Florida. Additionally, he is certified as a Bank Secrecy Act Compliance Specialist, a Credit Union Compliance Expert, and a Credit Union Enterprise Risk Management Expert.
16th OECS Credit Union Summit | 18 SPONSORS Platinum Sponsor: Gold Sponsor: Silver Sponsors: Bronze Sponsors: Sonover
16th OECS Credit Union Summit | 19 PARTICIPATING OECS COUNTRIES Anguilla Antigua and Barbuda Dominica Grenada Montserrat Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines
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