GECCU launches Link 24 ATM card service

In an effort to improve service delivery for their customers, the General Employees Co-operative Credit Union (GECCU) launched its GECCU Link 24 ATM card last Thursday, October 16, International Credit Union Day.{{more}}

The implementation of the service is a collaboration between GECCU and the National Commercial Bank (NCB).

Speaking at the launch at GECCU’s Kingstown office, Collinsworth Howard, a Micro Software Designs (MSD) representative, sent a challenge to credit unions, urging them to “co-operate and compete” through system integration while forming an integrated network amongst all units. This, he believes, will revitalize the movement and “stretch the principles of co-operation and co-operatives to a higher level, resulting in an improved level of competitiveness and improved market share position”.

Howard said that if businesses are to survive and remain competitive, “they have no choice but to re-examine the way they do business.” These changes, he noted, are fuelled by the recent crisis faced by some of the world’s leading financial institutions.

According to Howard, the rapid changes which are taking place in the Micro and Macro environment, along with consumers expectation of service delivery, are forcing both “non-profit and profit financial institutions to rethink the way they deliver service to their consumers”.

It is a continuous challenge for credit unions to come up with innovative ways of delivering quality, efficient and effective service to their membership, said Howard.

He stressed that if credit unions fail to do this, it will result in “grave consequences on their ability to effectively compete in the financial services market place.” Howard stated that what GECCU did when they embraced ATM technology is “adapt a multi-faceted approach to service delivery”.

Meanwhile, Minister of Telecommunications, Science, Technology and Industry Dr. Jerrol Thompson said there is a need for more “indigenous home grown companies to strive.” A proud member of GECCU, Thompson stated that there is also a need for faster transactions to be conducted at our financial institutions.

The Minister noted that the partnership between GECCU and the NCB demonstrates co-operation and partnership between the two entities. This, he said, can be mutually beneficial to both organizations.

The National Commercial Bank (NCB) is ready and willing to work with all indigenous organizations that want to offer ATM services to their clients, said Deputy CEO of the NCB, Derry Williams.

He noted that while they are in the same industry, they have to collaborate with one goal in mind, which is to “make sure that our customers, who are our key stakeholders, receive efficient, convenient and reliable service at all times”.

Williams mentioned that their role as financial institutions and leaders is to work assiduously to try to transform the financial services landscape to where it has more relevance to the business of the day. The GECCU Link card can be accessed at any NCB ATM machine, as well as the ATM machine at the GECCU head office.

Also giving brief remarks was Permanent Secretary (ag) in the Ministry of National Mobilisation Rosita Snagg and GECCU’s President Kenneth Douglas who described the launch as “a history making event”. He conducted the first ATM transaction. (VM)