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CACS - Caribbean Association of Credit Union Supervisors 

CACS Members Needs Survey Analysis

In October 2014, a “Ten-in-Ten” Member Needs Survey was circulated to assist in identifying the priorities for members and the Agenda for CACS. A total of nine (9) responses (69%) were received and a summary of the results follow:

  1. Years as Prudential Regulator for Credit Unions: Most jurisdictions indicated a category of 9+ years with the minimum 3 – 5 years. One jurisdictions was in a process of transition of supervisory authority for the sector.

  2. Examiners Assigned to the Credit Union Sector: Most jurisdictions indicated that the number of examiners was in the 1-5 category. One jurisdiction had a maximum number of 6 – 10 examiners.

  3. Number of Credit Unions in jurisdiction: Most respondents indicated 1-5 category with two (2) jurisdiction having 20 + Credit Unions.

  4. Priority Focus Areas for CACS: The order of priority of members for the 3 listed categories were as follows:-
    a) Training on the latest development in Credit Unions,
    b) Forum for information exchange
    c) Representation of Credit Union Regulators in International initiatives.

  5. Preferred Topics for training workshops and seminars:
    The responses in order of priority were as follows:
    1. Risk Supervision/Guidelines for on-site inspection
    2. AML and CFT
    3. Technical Report writing
    4. Financial Crisis Management
    5. Corporate Governance
    6. Capital adequacy/risk capital for small credit unions
    7. International standards and best practices
    8. Asset Quality, Liquidity and Solvency
    9. Legislative interpretation

  6. Type of delivery for training: Most respondents indicated that training should be delivered in person with webinars as the next choice. One jurisdiction recommended joint on-site examinations to be conducted between/among the members.

  7. Factors influencing decision to maintain membership: Various factors listed were :-
    1. Networking and collaboration
    2. Training activities and knowledge sharing
    3. Membership fees
    4. Cost of travel
    5. Representation at international prudential level
    6. Number and nature of Credit Unions
    7. Credibility

  8. Preferred method of communication: Email was ranked as the number one method of receiving information from CACS, followed by telephone calls, website and fax.

  9. Partnerships for CACS: The organisations recommended for partnership with CACS were as follows:
    WOCCU – World Council of Credit Unions
    CARTAC – Caribbean Regional Technical Assistance Centre
    CCCU – Caribbean Confederation of Credit Unions
    ICURN - The International Credit Union Regulators' Network
    ECCB – Eastern Caribbean Central Bank
    CASROC – Caribbean Association of Regulators of Co-operatives
    CARICRIS - Caribbean's regional credit rating agency
    CGBS - Caribbean Group of Banking Supervisors
    ASBA – Association of Supervisors of Banks of the Americas
    DICO – Deposit Insurance Corporation of Ontario
    CUR – Credit Union Regulators Canada
    PRA (UK) - The Prudential Regulation Authority
    CCRN – Canadian Co-operative Regulatory Network

  10. Date and Venue of next meeting:
    Venue suggestions were: Belize, Guyana, Grenada and the Western Caribbean. Offers to host the meeting were received from Haiti, the Cayman Islands and Grenada.

    The majority of respondents preferred the meeting to take place in the 3rd quarter 2015. Barbados has expressed interest in serving on the Advisory Committee.

The Secretariat thanks all for participation in this survey!

Financial Services Authority
St. Vincnet Á the Grenadines

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