~ ACU holds open day at Belair ~
SIMPSON BAY--Banco di Caribe and Algemene Spaar and Kredietcoöperatie ACU credit union on Thursday officially launched a new cooperation agreement that will enable ACU members in St. Maarten to use their cards at Banco di Caribe automatic teller machines (ATMs) and payment machines POs in the country.
The launching ceremony was held at Banco di Caribe’s Simpson Bay branch office. During the launch, ACU Managing Director Emauro M.L. Scoop made a symbolic presentation of an ACU card to Banco di Caribe Managing Director of Commercial Affairs Eduardo A. de Kort.
The agreement between the two companies is expected to offer ACU members more opportunities and benefits. Until now, it took ACU members longer before they could have their money at their disposal. As of Tuesday this week, ACU members in St. Maarten have easy and faster access to their funds. They now can use their ACU cards at any Banco di Caribe ATM in St. Maarten to check their balance and withdraw money. The same applies to payments. These can be done free of charge at any Banco di Caribe PO.
This service will soon be introduced in Bonaire and Curaçao, so ACU members can make use of the ATMs and POs on these islands as well when visiting.
ACU currently has approximately 30,000 members distributed over Aruba, the Caribbean Netherlands, Curaçao and St. Maarten.
Banco di Caribe has two ATMs in St. Maarten. The first is at the head office in Simpson Bay and the second at the branch in Philipsburg. In total, Banco di Caribe has almost 40 ATMs and an extensive infrastructure of PO terminals distributed over Aruba, Bonaire, Curaçao and St. Maarten.
ACU also hosted an information session for its members at Belair Community Centre yesterday, Friday, January 18, from 6:00 to 8:00pm.
An Open Day where potential new members will be given presentations, workshops on cooperatives and credit unions will be held at the same venue from 9:00am to 5:00pm today, Saturday, January 19. Aspiring members will also get a chance to start their application process on the spot during this Open Day. Attendees will get a chance to meet with members of the management, board and staff, and speak about their needs and aspirations.
AUC said it has some well-thought-out plans to modernise its systems, which will enhance its members’ service and experience. In the near future, automation and digitalisation will replace manual procedures, allowing for less waiting time and swifter handling of members’ requests. More tailor-made financial solutions will become achievable once the day-to-day management becomes more databased and data-driven.
The credit union is on the verge of “an impressive transformation” to a more modern cooperative organisation.
“What will remain the same, though, is the urge to stimulate its members to save. Useful saving instruments are regular deposits, time deposits and savings accounts for youngsters. Even members’ shares are a savings vehicle, since they may yield yearly dividends. It is ACU’s firm belief that saving discipline prevents a good deal of social problems.
“People who consistently save a portion of their earnings are well prepared for changed circumstances and even unforeseen expenses. They are less inclined to use loans for merely consumptive reasons, but instead will require credit predominantly for major acquisitions and investments,” ACU had said in an earlier press release.
ACU was founded on November 27, 1962, as a credit union for government employees, offering them educational development and at the same time allowing them to invest to realise their dreams and make more personal progress. ACU opened up for employees of government entities a few years ago, as well as for personnel of affiliated private companies in Aruba, Curaçao, St. Maarten, Bonaire, St. Eustatius and Saba.
Employees, spouses or registered partners and children of ACU members can attain membership. Siblings, parents, grandparents and grandchildren can benefit from their family relationship with a member, to also become a member.
ACU membership has grown in more than 50 years from the 44 pioneers who started this credit union to more than 25,000 members. ACU is a financial version of a cooperative, an association with members that jointly own and democratically control an enterprise to meet their common needs.
