Credit Union Annual Report 2021 V2 - Flipbook - Page 14
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Credit Union ANNUAL REPORT 2021
THE WAY FORWARD
This year we refreshed our brand with
an updated logo, which still maintains
the hands and the globe, but now
reflects a modern, colorful, and eyecatching concept of our Credit Union
as we move to transform manual
processes and attract the future
generation of members who will save
and borrow to maximise return for all.
In 2022 we will continue to strengthen
our risk and compliance framework
and transform our management and
information systems. We will:
• Continue with our strategy to
protect and grow our loan book
despite the increased competition
and reduction in interest rates;
• Transform the way in which we
manage and leverage data to
enhance efficiency and reduce
costs as we migrate from a legacy
banking system to a system that
will meet our current and future
needs;
the
formal
contract
from our anchor tenant for the
commercial property
o Award
the
contract
to
a
contractor and break ground on
• Increase and enhance delivery
of
o Secure
service
channels
through
Phase 1 before June 2022.
o Award
the
contract
a
contractor and break ground on
locations), along with improved
Phase 2 after June 2022.
• Continue
to
enhance
management
updating
adopting
through
risk
a
regularly
registers
risk
risk
and
management
framework which includes a risk
appetite statement;
• Complete a strategic plan for the
resilient and grow from strength to
strength.
commitments from our members
committee members, management,
purchasing the apartments
and staff, and all who have assisted
• Progress to the stage of completion
and future development in 2023.
As the Development Committee is
a standing committee, Millennium
Square (the Commercial Building)
Apartments) are the first of many
this phase we will:
the umbrella of the cooperative
to our loyal volunteers, directors and
the next three years;
commitment and construction. In
together through self-reliance under
o Review applications and confirm
and
Development Project; the phase of
with you, our members, as we work
We wish to record our appreciation
Credit Union to guide us through
• Continue to the next phase of the
We look forward to a better future
movement; we will continue to be
to
three new ATMs (two additional
online services, and a mobile app;
APPRECIATION
Verdant
Terraces
(the
developments for our Credit Union.
the Credit Union in the conduct of its
affairs over the past year. We thank
you, our members, for your dedication
and support as well as the confidence
you have placed in us as we strive
to serve The Cayman Islands Civil
Service Co-operative Credit Union
Limited.
Upon successful completion of
For, and on behalf of the Board of
this project, we will seek other
Directors,
opportunities
Michael Nixon, Chairman
that
benefit
our
members and our Credit Union as
we strive to make your dreams a
reality.