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Union Eyes Credit Union to Bolster Members’ Security
The Antigua and Barbuda Trades and Labour Union (AT&LU) is considering the creation of a credit union for its members as part of efforts to shield workers from inflation and economic uncertainty, President Bernard de Nully told delegates at the union’s 86th Annual Conference.
De Nully said the initiative would give members greater financial stability at a time when workers continue to face wage violations, inadequate pension payments, and the rising cost of living.
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He framed the proposal as both a practical response to current pressures and a way to reinforce solidarity within the labour movement.
“The time is now,” de Nully said, arguing that a member-owned financial institution could offer affordable services while helping workers plan for retirement.
He linked the plan to the union’s historic role in securing better conditions for ordinary Antiguans, saying the AT&LU must adapt to ensure workers are protected in today’s volatile global economy.
The president also warned that Social Security contributions alone would not be enough to guarantee timely pensions in the coming decade.
He urged delegates to support measures that strengthen worker protections and financial security, insisting that “better days are ahead, as long as we stay together.”
The proposal for a credit union came alongside announcements of recent wage negotiations, including a 14% increase for non-established workers, underscoring the union’s push to deliver tangible benefits while exploring new avenues of support for its members.
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 plans a credit union to support members amidst economic challenges.){kind=link}
Why? There are already other well established credit unions around with the necessary savings products that the members could join.
Is this idea coming from the thought that there is money to be made from having a credit union? Have they seen the prosperity of other large credit unions and think they want to get into that “game” also?
Stop wasting people time! What u need to do is teach the union members about financial literacy and good saving habits.