Marigot Credit Union Records a 14% Decrease In Operational Surplus

The Marigot Cooperative Credit Union is reporting a decrease in its operational surplus by 14 percent when compared to 2019.

Facing loan delinquency as a consequence of the Covid 19 pandemic, the credit union’s president Valentine Telemacque says members have been affected by the loss of jobs, which in turn has resulted in a lack of loan payments.

At the end of 2020, Telemacque says the credit union’s income was three million 3 hundred and 91 thousand 641 dollars.

He says prevention and mitigation against the spreading virus is becoming an expensive and increasing burden on society.

President of the Marigot Cooperative Credit Union Valentine Telemacque

Telemacque was a guest on the Cooperative Voice hosted by the Dominica Cooperative Societies League.