who we aretrinity avenue, emr, laventille

PULSE

Trinidad Distillers CreditUnion Co-operative SocietyLimited opened its doors in1975 under its leadership ofits first President, LindleyAbdullah. It was, however,only registered in July 1976.

The Society changed itsname to the Angostura GroupEmployees Credit UnionCo-operative Society Limited(AGECU) by the amendmentof the Society's bye-laws on13th November, 2000.

During its inception, steadygrowth continued under theleadership of our pastPresidents, Lindley Abdullah(deceased), David Francois(deceased), Clarence Lewis(deceased), EvertonCallender, David Gibson,Kenneth Philips, and ourcurrent President, LambertGeorge.

WHO WE ARETrinidad Distillers Credit Union transition toAngostura Group Employees Credit Union

The latest Angostura Group Employees' Credit Union news,views and announcements.

Trinity Avenue, EMR, Laventille620-2680, 620-2685, [email protected]@AgecuAngosturaCU@agecu1975

Credit unions are often a better dealthan banks and tend to pay higheryields on deposits."

Meet the AGECU Team & Staff

Credit Unions - People HelpingPeople

Planning for the Unexpected

AGECU Products

CUNA Products

World Environment Day

Father's Day Competition

Health & Wellness Tips

Dealing with Financial Stress

Junior Member Segment

Small Business Member Directory

THIS ISSUE

ISSUE | 01J U LY | 2 0 2 1N

ew

sletter

AGECU

Inside

Through the years ofoperations, our Credit Unionhas consistently sought toremain relevant by makingcontinuous improvement tobetter serve our membership.This was evident when wechanged our AdministrativeOperating Software inOctober 2019. In 2021, we areembarking on a RebrandingInitiative and MemberEngagement transformation.

On 9th July 2020 AGECUcelebrated our 45thAnniversary and the themewas “Exploring thepossibilities; Expecting thebest”.

Angostura Group EmployeesCredit Union continues to bean immensely proud memberof the Co-operative CreditUnion League of Trinidad andTobago.

Launch ofAGECU's WEBSITE

ANGOSTURA GROUPEMPLOYEES' CREDITUNION CO-OPERATIVESOCIETY LIMITEDCOMMITTEESTERM 2020 – 2021

MEET

The Boardof Directors

AGECU Pulse | July 2021 | pg 2

THE TEAM

ClarkeVice President2021 - 2024

LambertGeorgePresident2019 - 2022

BetancourtSecretary2019 - 2022

PetersAsst. Secretary2021 - 2023

MerrittTreasurer2021 - 2024

Moore-BurrowesAsst. Treasurer2021 - 2024

SargeantDirector2021 - 2023

RoderickDirector2021 - 2023

De FreitasDirector2021 - 2023

PaulDirector2021 - 2024

PlanteDirector2021 - 2022

MahabirDirector2021 - 2022

Clarke1st Alternate2021 - 2022

The CreditCommittee

Mayers-ClarkeSecretary

PlanteMember

NarinesinghMember

GarrawayMember

Mc Intosh1st Alternate

CoombsChairperson

TheSupervisoryCommittee

St. LouisSecretary

ForbesMember

HoseinMember

WilsonMember

Mano1st Alternate

Martin2nd Alternate

KnightChairperson

The EducationCommittee

GobinSecretary

ArneaudMember

ClarkeMember

De Freitas Member

FarmerMember

LewisMember

RoderickChairperson

MEET


THE TEAM

TheMarketingCommittee

FrectionMember

RojasMember

JordanSecretary

EligonMember

PaulMember

DeonarineChairperson

VISION STATEMENTTo be the premier financial institution,catering to the needs of our members.

MISSION STATEMENTTo develop an environment that fulfils thesocial and financial goals of our membersand their families, without compromisingthe integrity, philosophy and statute ofCredit Unionism.

The AGECUOffice Staff

Joseph Corbin-Des Vignes Pavy

TheNominationCommittee

SargeantChairperson

MaharajMember

YorkeMember

PatrickSecretary

PaulMember

MEETTHE STAFF

Manager AdministrativeAssistant III

AdministrativeAssistant II

Planning for theUnexpectedDisasters don’t planahead, but you can! Here are 6 reasons whyyou should have anEmergency Fund.1. You lost your job.

2. You can’t shake that cough.

3. Start up funds for abusiness venture.

4. Your car makes a funnygrinding noise.

5. Someone close to youpasses away.

6. Your roof starts leaking.

All Credit unions committo the “People HelpingPeople” philosophy uponwhich they are founded.The goal is to servemembers well and helpthem achieve financialsuccess through financialeducation, service andproducts that are offered.

The major differencebetween a bank and acredit union is thestructure. Banks are “forprofit” institutions whereprofits earned are returnedto stockholders or“owners” of the bank.

Credit Unions are “not forprofit” institutions, ourprofits go back to ourmembers, who are the“owners.” The profits areused to reduce loan rates,increase deposit rates andcreate products andservices that are beneficialto our members/owners.

C R E D I T U N I O N S"People Helping People"

Benefits - CreditUnions vs BanksCredit unions arecooperative financialinstitutions owned andoperated by their members— not shareholders. Lower FeesCredit unions tend to offerlower fees than banks as aresult of their not-for-profitbusiness structure. Creditunions are able to reinvesttheir earnings back intotheir members.Better SavingsCredit unions offer betterinterest rates than bankson savings accounts. Lower Loan RatesIn addition to offering betterrates on savings accounts,credit unions are also knownfor offering lower interestrates on loans. Credit unionsand banks have similarportfolio on productofferings.

Local ExpertsCredit unions offer financialcounselling and advice byoffering free financialworkshops.Commitment to MembersAs non-profit businesses,credit unions rely on theirmembership to continueoperating, rather than beingdriven by profit. Membersof credit unions enjoy thebenefits of theorganization’s strong focuson personalized customerservice.Elected Board of DirectorsOne of the benefits ofbeing a member of a creditunion is the ability toparticipate in the electionof leadership in theorganization. This meansthat members can helpguide the major financialdecisions and corporategoals of their credit union.

NEW LIFENEW SOLUTIONSAGECU is dedicated to thesuccess of our membersand strive to keep youcurrent on today's financialchallenges. We provideproducts and services tohelp you navigate the manystages of life.

AGECUPRODUCTS

A share account is a savings account andestablishes your share of ownership in the CreditUnion.

The share account offers competitive dividend rateswhich are declared and paid annually. The interestcalculated is based on your average number of sharesthroughout the year.

Each member is expected to make weekly or monthlycontributions to ensure that their account remainsactive.

S H A R E S


This is a regular saving account which allows membersto withdraw funds quickly and easily.

Members may also set up internal standing orders usingthese deposit accounts to make FIP payments to CUNA.

D E P O S I T

A loan is a sum of money that a member borrows fromthe credit union so as to financially manage planned orunplanned events. The member incurs a debt which hasto be repaid with interest and within a given period oftime.

Current loan offerings: Tech Loan, Christmas Loan,Christmas to Carnival Loan, Share Builder Loan.

LO A N S

Members can invest a certain sum of money for a fixedperiod at a predetermined rate of interest.

The longer the duration and the higher the investmentamount, the greater the interest rate.

F I X E D D E P O S I T S

- Interest Rate 1%- Permanent Employees (3X their Shares)- Casual Employees (1.25 X their Shares)

S E C U R E D LO A N

- Interest Rate 0.80%- Deposit up to a maximum of $7,000.00 which goes into a Fixed Deposit- Get 3X the deposited amount- Loan Duration period 36 months

VACATION & INVESTMENT PLAN (VIP) LOAN

- Interest Rate 1%- Total Loan amount $30,000.00- $15,000.00 goes into a Fixed Deposit and $15,000.00 as cash in hand

C A S H & I N V E S T M E N T LO A N

- Interest Rate 0.85%- Credit check cost will be borne by the member- Two thirds of the loan amount goes to Shares and the remainder as cash in hand- Loan Amounts: $10,000 for 24 months and $7,000 goes to Shares $20,000 for 24 months and $15,000 goes to Shares $30,000 for 36 months and $20,000 goes to Shares

S H A R E B U I L D E R LO A N

- Interest Rate 0.75%- Loan Duration period 2 years- Loan Value: $2,500 (minimum) to $10,000 (maximum)- Invoice & Supporting documents required- Payment will be made payable to the supplier or member only if purchased online

T E C H LO A N

- School Book Loan – Interest Rate 0.75%- Special Xmas Loan – Interest Rate 0.75%- Dividend Loan – Interest Rate 0.00%

S E A S O N A L LO A N T Y P E S

CUNAPRODUCTSWe believe insurance is For AllPeople, and we are committed tobeing inclusive and tounderstanding the needs of eachand every one, in every stage oflife. We continue to developproducts to help you prepare forthe unexpected, catering to yourneeds, your life, and your budgetso that you can live comfortably.

LIFESAVINGSINSURANCE


THE FAMILYINDEMNITYPLAN

THE FAMILYCRITICALILLNESS PLAN

Members receive insurance coveragein proportion to the amount ofsavings held in the credit union.This insurance coverage is automaticat no cost to the member where LifeSavings insurance is offered.Members’ savings are insuredagainst death (natural or accidental),accidental dismembermentand loss of sight.

Plan offers quality life insurance thateveryone in the family can enjoy. Thisplan covers final expenses for up to sixfamily members (including the PrimaryInsured Member) for only one premium.No medical examination required andpersons must be enrolled before age 76.

This plan provides critical illness coverage foryou and up to five of your eligible familymembers. Access up to 300,000 dollars’ worth ofcoverage should you or any one of your coveredfamily members become diagnosed with one ofthe six specified critical illnesses: cancer, heartattack, stroke, paralysis, major burns and coma.

LOANPROTECTIONINSURANCEMembers covered Credit Unionloans will be paid off should youpass away or become totally andpermanently disabled up to yourorganisation’s contract limit.No medical required.Members receive automaticinsurance coverage on theirCredit Union loans.

ADVANCEDPROTECTORINSURANCE

This plan helps to reduce the debt amember’s family will have to assumeat the time of his death or if amember becomes totally andpermanently disabled or temporarilydisabled.Under Advance Protector, theinsurance pays the loan balance, upto the policy stated maximum, if amember becomes totally orpermanently disabled or themember or a joint insured passesaway before the loan is paid off.


WORLDENVIRONMENTDAY 2021World Environment Daywas celebrated June 5,2021 and it called for urgentaction to revive ourdamaged ecosystems. Thismeans bringing back plantsand animals from the brinkof extinction, from thepeaks of mountains to thedepths of the sea.

FATHER'S DAYCOMPETITIONMembers were asked to submit photosof their Father's Day activities with thefamily. The winner is...

AGECU distributed 30 plantingstarter kits to its members. Each kitcontained a PVC planter, seedpackets and a leaflet from theMinistry of Agriculture.

Did you know Trinidad and Tobago is An Eco-Adventurer’sParadise - Trinidad and Tobago is the Best CaribbeanDestination for Nature Holidays – With over 470 species ofbirds, over 600 tropical butterflies including the spectacularEmperor, hundreds of rivers and waterfalls and an abundanceof eco-adventures, it’s no wonder why Trinidad and Tobagowon the 2015 UK Telegraph Caribbean Travel Award for BestDestination for Nature Holiday.

Anand Moonoo

We asked our dads to quote on what does fatherhoodmean to them and here's what they said...

Being able to give life to an amazing human beingand passing on good morals and values.

Russell Wilson

Stefan MartinFather’s Day is recognized worldwide, a time where families come

together showing appreciation to the head of their household. This day for me is quite special as I receive gifts from my wife, children andgreetings from other relatives and friends. It is also a time for me to reflect

on where I can improve. I continue to be a good father and walk in myintegrity before the Lord.

Codrington Plante

Jessus Garraway

Wayne Mc DonaldBeing awarded custody of my sons, Father’s Day means a lot

to me. It tells me that I have been doing great in raising, teaching and nurturing mysons. This Father’s Day was a quiet one, however, it was enjoyable. Seeing that wecannot purchase fast food due to restaurants being closed, I made my own specialburger and fries. My boys and I enjoyed our meal and spent quality time watching

movies, playing games and having laughs.

It’s a celebration of years of hard work. Nurturing a child, providing needsand watching them grow to adulthood successfully. Now I have two

granddaughters to celebrate life all over again.

Being a father is one of the most rewarding experiences a man canhave but it is difficult. It takes dedication, patience and lifelong

responsibility. It requires active participation vigilance and nurturing.Everything that you do is under scrutiny from little people who can't do

the job better for themselves but look to you for guidance. Being afather means understanding that to someone you are superman.

Ronald ManoI am fortunate enough to come home from work and be greeted

and hugged by my children. Many do not have this pleasure and my heartgrieves for them, for there is no greater joy but also no greater sadness than

losing a child. As fathers we have the most important responsibility to teach ourchildren to honour God, respect each other’s differences, love each other and do

unto others as we would have others do unto us. I hope and pray I am a goodexample to my children andcan make a difference in the world for them.

The COVID-19 pandemic has had a major effect on our lives. Many of us are facing challenges that canbe stressful, overwhelming, and cause strong emotions in adults and children. Public health actions,such as social distancing, are necessary to reduce the spread of COVID-19, but they can make us feelisolated and lonely and can increase stress and anxiety.

We feel fear, anger, sadness, worry, numbness, or frustration; changes in appetite, energy, desires, andinterests; difficulty concentrating and making decisions; difficulty sleeping or nightmares; physicalreactions, such as headaches, body pains, stomach problems, and skin rashes; worsening of chronichealth problems; worsening of mental health conditions; increased use of tobacco, alcohol, and othersubstances.

Learning to cope with stress in a healthy way will make you, the people you care about, and thosearound you become more resilient.

H E A L T HW E L L N E S SCoping w i th Str e s s

Taking care of yourself can better equip you to take care of others. During times of social distancing, itis especially important to stay connected with your friends and family. Helping others cope with stressthrough phone calls or video chats can help you and your loved ones feel less lonely or isolated.

body mind and soul

Help ing o ther s c ope

It is natural to feel stress, anxiety, grief, and worry during the COVID-19 pandemic. Below are ways thatyou can help yourself manage stress.

Heal thy ways t o c ope

Take a breakfrom news

storiesIt’s good to be informed, buthearing about the pandemicconstantly can be upsetting.Consider limiting news tojust a couple times a day anddisconnecting from phone,tv, and computer screens fora while.

Take care ofyour body

o Take deep breaths, stretch or meditate.o Try to eat healthy, well-balanced meals.o Exercise regularly.o Get plenty of sleep.o Avoid excessive alcohol, tobacco, and substance use.o Continue with routine preventive measures (such as vaccinations, cancer screenings, etc.) as recommended by your healthcare provider.o Get vaccinated with a COVID-19 vaccine when available.

Make time tounwind

Try to do some otheractivities you enjoy.

Connect withothers

Talk with people youtrust about yourconcerns and how youare feeling.

Connect withyour community-

or faith-basedorganizations

While socialdistancing measuresare in place, tryconnecting online,through social media,or by phone or mail.



Money can be a major sourceof stress, especially when you’redealing with an emergency.

When the future seemsuncertain, it’s common to feelworried, scared, sad, frustrated,overwhelmed or even angry.

These feelings are perfectlynormal, but don’t forget to treatyourself with kindness.

Write down your main sources of financialstress, whether it’s maxed-out credit cards,intimidating medical bills, hard-to-managemortgage payments or something else. Reviewthem, take a deep breath and acknowledge thestress you’re feeling.

Determine what’s driving your stress.

Banish guilt and shame.If you feel ashamed of your financial difficulties,do your best to put things in perspective. Many,many people go through a money crisis. You arenot alone, and circumstances beyond yourcontrol have likely played a role in your situation.

Find silver linings.Your situation may feel overwhelming, butthere’s usually a sliver of hope to be found. A jobloss could lead to a more fulfilling, higher-payingposition. A large debt could motivate you to finda side business that you love. A medical crisiscould motivate you to improve your nutritionand exercise habits. Look for positives, committhem to memory and place them in thespotlight.

Remind yourself that staying calmpromotes financial well-being.A clear head and a focused mindare powerful tools for improvingyour financial situation. You’relikely to lose clarity and focuswhen you stop prioritizing andstart thinking about all of yourfinancial challenges at once. It ishelpful to list your three mostimportant bills, budget categoriesor financial goals and even readthis list out loud.

Talk to financial expertsand create an action plan.A financial planner oradvisor can help youtake stock of yoursituation. Theseprofessionals can alsohelp you locateresources, identifyrealistic goals and mapout a specific plan formanaging your finances.

Retool your budget.Whether you’re strugglingto make ends meet orworried you’ll never pay offa debt, updating yourbudget can help you feelmore control over yoursituation. It can also helpyou reach your financialgoals.

S E G M E N T


How much should you save each month?

It depends on what you desire to purchase.

For example, you want to buy a new video

game but your parents say that you have to save $100 of

the cost before they’ll pay the rest. It can be tough to

earn $100 in a short amount of time. However money-smart

kids have savings goals and stick to them.

If you saved $25 each month ($6.25 a week), you could buy

that video game in four months! If you saved $50 each month,

you could buy that video game in two months! Fantastic!

The more you can save, the quicker you get the video game.

Money-smartkids who stick

to their savingsgoals make

things happen!

BANKCURRENCYMORTGAGESUPPLYBONDSCREDIT CARDLOANINSURANCESTOCKSCHANGE

CHECKINVESTMENTTAXESINTERESTCOINSSAVINGSBUDGETECONOMICSMONEYFINANCE

ato colour

SMALL BUSINESSMEMBERS DIRECTORY

AHSAT PUBLISHINGSERVICES

CONTRIBUTOR | AGECU EDUCATION COMMITTEEPUBLISHER | AHSAT PUBLISHING SERVICES

M E M B E R S S U P P O R T I N G M E M B E R S

"Graphic Designing forprint-based media"

[email protected]: @ahsatpublishing

COOKIE KUTTERZ

"Hand crafted gourmet cookiesthat can be customized to any

requirement."

[email protected]: @cookiekutterz

Copyright 2021 AGECU. All Rights Reserved.

I S S U E

NEXTTestimonials(How has theCU benefitted

my life)

FinancialTips

CreditUnion month

SEAAwards

CONFIDENTIALITY NOTE: This newsletter may contain confidentialand/or private information.

Friedrich Wilhelm Raiffeisenand Hermann Schulze-Delitzsch,were responsible for creating thefirst true credit unions in Germanyin 1852 and 1864. During 1849,Raiffeisen founded a credit societyin Flammersfeld, Germany, but itdepended on the charity of wealthymen for its support. Raiffeisenremained committed to thatconcept until 1864, when heorganized a new credit unionalong principles that are stillfundamental today.

ZURIEL PRINTS

"Specialised printing of t-shirtsand other apparel, embroidery

stitching, customised mugs andcake toppers."

784-9108; [email protected]: @zuriel_prints

If you have a topic you would like us to feature, just let us know...

from AGECU... - Commemorative ceremony- Town Hall Webinar- Member Survey

How do dinosaurs pay their bills?With Tyrannosaurus checks!I had my credit card stolen the other daybut I didn't bother to report it because thethief spends less than me.

Where do frogs deposit their money?In a river bank.

I remember being in so much debt that Icouldn't afford my electricity bills, it was adark time.

You take away thelooks, money,intelligence, charmand success and,really, there's no realdifference betweenme and GeorgeClooney.

A bank is a place that will lend you money,if you can prove that you don't need it.

If you want to get rich, why should youkeep your mouth shut?Because silence is golden.

Why is money called dough?Because we all knead it.

who we aretrinity avenue, emr, laventille

Documents