At the beginning of the year we set a goal aiming to bring Credit Unions in the Bahamas into focus in 2020, but who could have envisioned that 2020 would throw so many curve balls at us. This unexpected worldwide catastrophe COVID – 19 has single-handedly imposed a treacherous blow to the health of our citizens and our economy. The pandemic has forced the closure of micro and macro businesses, a massive strain on our healthcare systems, and threathening the lives of our Bahamian population. 

In hindsight, this dilemma has certainly revealed our vulnerabilities, magnified the current financial state of the country, and intensifies the need to strengthen other industries to ensure future food security and financial sustainability. 

We are challenged with having to cut our work hours, reduce our contact with each other by distancing, eliminating all forms of socialization, and even godly fellowship in our churches and resort to wearing a mask.

Credit Unions made the necessary adjustments to it’s operating hours to accommodate the needs of their members, implemented Member Financial Relief efforts to assist members who have been adversely affected by the loss of jobs and the temporary collapse in the economy.  All Credit Unions strictly observed the prevention strategies, fully enforcing social distancing and sanitization protocols. 

We are still able to how can this be accomplished? Is it possible? CERTAINLY. However, this must be a collective effort to RESET and REBUILD. It is not too late to achieve our original goal, but this cannot happen if we seize or slow our efforts to position ourselves for a new boost. i