sJU5 398im5WjrIJirbeG-Credit Union AGM Booklet 2024 - Flipbook - Page 29
29 Credit Union AGM Booklet 2024
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Our Credit Union Difference has always positively
impacted our local community by providing easier
access to 昀椀nancial services to members who may not
qualify in the market. However, in this high-interest rate
and in昀氀ationary environment, our policies are now
in昀氀uencing the broader local market to compete with
our loan terms, signi昀椀cantly and positively impacting
the wider community. Other 昀椀nancial institutions now
offer loan terms like the Credit Union, lower interest
rates 昀椀xed for two years; this resulted in substantial
savings for members because our Credit Union’s low
cost of borrowing led to this decision by the other
昀椀nancial institutions. For example, if a member with a
mortgage of $300K to $500K at the commercial bank
accepted a lower interest rate to match our interest
rate, 昀椀xed for two years, they would save between
$17.4K and 39K in interest payments over the two
years.
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We donated $81K (2023: 56K) to sponsored events
and charities to demonstrate our commitment. See lists
of donations and sponsorships:
Bene昀椀ciary
Contribution
Charities
Breast Cancer Foundation
2,060
Cayman Islands Goverment DG's 5K Challenge
5,000
Lion's Club of Tropical Gardens - Breast Cancer Awareness
1,500
Meals On Wheels - Christmas Drive & Coin Drive
3,918
Mental Health Day
2,500
Needs Assessment Unit
2,000
Rotary Club Sunrise
1,500
Lions Club of Grand Cayman Golf Scramble Event
500
Water Authority - Christmas Drive
750
Wind of Hope - 5K Run/Walk
500
School Programmes
Cayman Academy High School Graduation 2024
2,000
Clifton Hunter High School PTA - Outstanding Performance in Statistics Award Graduation
200
East End Primary School PTA
500
Edna Moyle Primary School PTA
500
George Town Primary School PTA
500
John Gray High School - Graduation Award
300
Joanna Clarke Primary School PTA
500
Triple C School
750
