Roseau, Dominica – August, 2026: The National Co-operative Credit Union (NCCU) is introducing two new measures aimed at promoting timely loan repayment, recognizing responsible borrowing, and protecting the long-term financial strength of the institution.
Publication of names of delinquent borrowers
The first measure follows a resolution approved by members at the Society’s 16th Annual General Meeting on June 3rd, permitting the publication of the names of borrowers with unpaid loans. This complements, rather than replaces, NCCU’s long-standing approach of working with members to resolve repayment difficulties.
Chief Operations Officer, Suzanne Joseph-Piper, explained that the publication will only be considered after reasonable efforts have been made to locate and engage the borrower, and where those efforts have not resulted in repayment or a satisfactory arrangement. It will be used as a measure of last resort.
“NCCU recognizes that unforeseen circumstances can affect a member’s ability to meet financial commitments. For many years, we have worked closely with members through various measures to help them regain financial stability. We encourage members experiencing financial difficulty to contact us as early as possible so that we can explore appropriate solutions,” Joseph-Piper noted.
She added, “When loans remain unpaid, it affects every member. Delinquent loans reduce our ability to provide financing, pay dividends and invest in better services. As stewards of our members’ savings and investments, we have a responsibility to protect the long-term strength of NCCU. “
Patronage Refund Programme
The second initiative is the introduction of a Patronage Refund Programme, designed to recognize and reward members who consistently make their loan payments on time. Eligible payments under the programme will begin in 2027.
“The Patronage Refund Programme was created to reward our borrowing members and recognize responsible financial behaviour. Every NCCU borrowing member who consistently makes their loan payments on time stands to benefit. The value of the refund will be based on the interest paid on the loan,” Joseph-Piper explained.
Our fight against delinquency
The new measures build on several initiatives introduced over the past year to strengthen loan recovery efforts while supporting members experiencing financial difficulties.
These include:
● Implementing enhanced collections software to improve recovery processes.
● Introducing initiatives to help borrowers clear past-due debt.
● Restructuring the Collections Department to improve efficiency and member support.
NCCU remains committed to working with members facing financial challenges and encourages anyone experiencing difficulty meeting their loan obligations to contact the institution as early as possible. Early communication provides the greatest opportunity to explore repayment options and avoid serious recovery action.