Credit Union decreases interest

The Cayman Islands Civil Service Association Cooperative Credit Union recently appointed a new Board of Directors at their Annual General Meeting.

credit union

From left, seated, are: Sheena Glasgow, first vice chairman; Franz Manderson, chairman; Deanna Look Loy, second vice chairman. From left, standing, are: Zena Merren, director; Eric Bush, treasurer; and Ralph Beckles, secretary. Missing from the photo is Oswell Rankine, director. Photo: Submitted

At their first meeting, the new board decided to drop interest rates on secured loans by one per cent with immediate effect.

‘It was obvious that our members were finding it increasingly difficult to maintain their loan portfolio with the Credit Union,’ said Chairman of the board Franz Manderson.

‘I hope that the quick action taken by the board will assure members that both the board and the management of the Credit Union value their business and will take the necessary steps to ensure that the Credit Union is offering competitive loan packages’.