PORT OF SPAIN, Trinidad–The president of the Co-Operative Credit Union League here, Joseph Remy, is calling on the government to establish a technical assistance fund for retraining of people during the COVID-19 pandemic.
"We need it now more than ever. Because of the impact of covid19 on the employment relationship with a lot of our members, we believe that this fund is more than necessary now,” Remy told Trinidad News. “Because we are talking about developmental opportunities for retrenched members resulting from the impact of COVID-19 That will necessitate new skills and training, particularly where the Government thrust is to have a digitalized economy."
Remy told the publication the Co-Operative Credit Union League said the league will be very strong in advocating for the fund and expressed hope there would be an allocation towards it.
"Because it is not a 'giveaway' kind of situation. It is an investment for the future and development of the country's economy,” Remy said in remarks given during the league's virtual pre-budget forum.
Hope ‘Voices Will be Heard’
"As the umbrella body for the credit union movement, and with the background of COVID-19, the role of the movement is to act as a buffer for the members and the citizenry,” Remy said. “We hope our voices will be heard and resonate enough to have some input (in the upcoming budget)."
Remy said the country’s budget would be challenging for anyone to deliver, with the diminishing returns from COVID-19, and the credit union movement has an important role to play, according to Trinidad News.
Remy said that since 2014 successive budget presentations have mentioned credit union legislation but the league was still waiting to see it implemented. He told Trinidad News some of the measures the league has been awaiting include being able to pay utility bills at credit unions; strengthening of the Co-Operative Development Division; allowing credit unions to cash government checks; and enabling credit unions to assign members' salaries, pensions or superannuation benefits, particularly from government agencies.