AGM Report 2016
The St. Lucia Teachers’ Credit Co-operative Ltd (SLTCC) warmly welcomes all members of the teaching profession back to school and wish all a very successful 2017-2018 Academic Year.
The SLTCC was again the host of another successful annual Depositors’ Camp in July. For the first time, the camp was held simultaneously in the North and the South. The SLTCC would like to thank all the volunteers for giving their time and effort to help promote the work of the SLTCC.
We are also pleased to inform of another successful bursary distribution in 2017. This event is scheduled to take place annually on the third Thursday in July. Members with children who were successful in the common entrance exam received a onetime bursary of $400.
Members are encouraged to continue signing up and utilizing the online banking facility. Please make arrangements for this facility if you are yet to do so.
In an effort to continue to meet the many needs of its members, the SLTCC will work closely with contact persons and school thrift teachers at the schools. In that regard, we thank them for supporting teachers and students and look forward to strengthening the vital link that connects members, the school thrift and depositors to SLTCC.
We all look forward to our AGM in the new term, as well as the observance of Financial Literacy Month in October.
We look forward to your continued support and involvement in all our upcoming activities.
If you have multiple loans and are faced with two or more loan payments per month you may find that it is becoming increasingly difficult to cope with the rising costs of living. Are you contemplating CONSOLIDATION or even bankruptcy?
Well here is some advice for you.
Consolidation is simply combining all your loans into one loan and ultimately, only one low monthly payment. How is this possible? Easy, by consolidating, you have stretched out your loan payments over a longer repayment term and this makes the payments significantly less. You should bear in mind however, that in the long run, you may be paying more because the longer you pay, the more interest you will end up paying. But in the short run you will increase your disposable income and this will give you well needed breathing space with your finances!
Consolidation of your loans will mean an increase in disposable income. So what can you do with the surplus? Invest! Invest! Invest!
Speak to a representative of the St Lucia Teachers’ Credit Cooperative Ltd for more advice and suggestions.