Categorized | Business, National News

Credit Union Chief Targets 1,000 Members–BIRCCCU Launches New Debit Card & Health Insurance

The incoming CEO of a local credit union says he is hoping to attract 1,000 new members in the next year.

Mark Bastian, who is set to take over the reins at Bahama Islands Resorts and Casinos Cooperative Credit Union (BIRCCCU) when its current CEO Francis Davis steps down, said “the future is rosy” for the credit union.

“I just started with the movement in the last two months and I can say to you without a doubt that we’re going to be moving forward. [BIRCCCU] is membership driven and so we’re going to open up and be able to accept more members than we have right now,” he said.

“Our target is that within the next year we should have another 1,000 members coming in. That’s what we look forward to.”

BIRCCCU recently partnered with Fidelity and BAF to launch a VISA card and health insurance at its Village Road headquarters.

Mr. Bastian said the credit union has always been focused on helping its members help themselves and was very pleased with the number of people who turned out and signed up for the new debit card.

“What we did is the first 100 people that came in we credited their account with $25. So, that encouraged a lot of folks to come out,” he said.

BIRCCCU CEO Francis Davis said he, too, was proud to launch the new debit card.

“It’s an excellent card. It brings convenience to our members and then it makes the credit union accessible 24/7. In addition to that, we have a health programme today. We have a group health insurance through BAF and they are here doing health test screenings, which is excellent. We really encourage people to look after their health and grow their wealth, which is our concern,” Mr. Davis said.

Fidelity Fraud & Risk Manager, Aubrey Sherman said Fidelity was pleased to partner with BIRCCCU to offer the debit card.

“This debit card allows BIRCCCU customers to use their funds in real time. No need now to carry around cash, but [they can] spend their funds using the card everywhere that VISA is accepted. This has an international backing of the VISA brand and anyone who is familiar with VISA knows that VISA is the smart and strong choice when it comes to payment solutions,” he said.

Mr. Sherman noted that Bahamians seem to have a “love affair” with cash.

“They believe cash is the end all and is all and of course society dictates that working in a cash-filled society is not a smart move because of the risk of loss and the risk to one’s own person and the merchants involved. It’s risky to do business, unlike in the days past when our parents and older folks used to carry around tons of cash on them,” he said.

BIRCCCU was founded in 1986 by a group of casino employees.

Bruce Delancy, a founding member said the group had to find a way to help its fellow casino employees at the time and decided to form a credit union.

“With the help of many others we decided to create Paradise Island Resort & CasinoCooperative Credit Union. Over the years, it expanded to where we are now.

Written by Jones Bahamas

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