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The West Coast Cooperative Credit Union continues to stand by our commitment to the communities we serve and to the wholesome development of the children and wards of members. This year, we are proud to award Mr. Raynolvens Merzier of St.Joseph a successful student at the Grade Six National Assessment Examination, a scholarship to attend secondary school for the next five years.
Each year, the society awards one student the scholarship on the basis of merit. It provides for the purchase of text books and stationery, and the payment of transportation and examination fees for the scholars’ school life provided she/he maintains creditable performance.
The continuing West Coast scholars – Lanaya Townsend from Salisbury and Grace Vidal from Coulibistrie, Gracelyn Victor and Bill Frederick from Salisbury who are now into their fifth, fourth, third and second years at secondary school, have already received text books and stationery for the upcoming school year. We wish them another successful year on their academic journey.
West Coast is honored to support members by helping to facilitate the education of our youth. We know that this adds value to the communities that we serve, and increases the quality of life of our people. We are delighted to have assisted various families over the years. The 2013 West Coast CU scholar, Ms. Chalika Vidal was one of the top awardees of the ITSS 2018 graduating class and a top performer for her school at the CSEC Examinations. We take this opportunity to congratulate Ms. Vidal on her achievements at the 2018 CSEC Exams, and to wish her the best in future endeavors.
West Coast Cooperative Credit Union also congratulates our new scholar, Raynolvens Merzier, and his parents. We wish him a very successful academic career.
WEST COAST COOPERATIVE CREDIT UNION AWARDS ANNUAL SCHOLARSHIP
(Salisbury, Dominica, August 15, 2017)
For more than twelve (12) years, the West Coast Cooperative Credit Union has maintained its dedication to the communities it serves and to the educational development of members through the award of scholarships to their children and wards to facilitate attendance at high school or college. Each year, a merit-based award provides the awardee with text books, stationery, transportation and the payment of examination fees for the duration of his secondary school life, provided he/she performs creditably.
In keeping with the Credit Union’s scholarship policy, this year’s awardee is Bill Frederick of Salisbury, who was the most successful of the eligible candidates at the 2017 Grade Six National Assessment Examination. In addition to Bill, Chalika Vidal, Lanaya Townsend, Grace Vidal and Gracelyn Victor will all maintain existing scholarships with West Coast based on their continued satisfactory academic performance.
Education is one of the foundational principles of cooperatives and West Coast Cooperative Credit Union is pleased to assist members in this manner and is proud of the achievement of our scholars. We are also pleased to join the national effort to equip our youth for positive and productive futures. This is fundamental to our strategy: to improve the quality of life of members, their communities and the nation by extension.
West Coast Co-operative Credit Union Opens New Branch Location in St. Joseph
DECEMBER 29TH, 2016 4:30 PM ST. JOSEPH, DOMINICA,
The West Coast Co-operative Credit Union Ltd- WCCCU, a full-service Credit Union based in Salisbury opened its New branch location in a recently renovated building in St. Joseph on Thursday, 29th . Located in an area of the community called “Otrobando”. The branch is the only Credit Union in the growing St. Joseph community.
The St. Joseph branch of the West Coast Credit Union is a new design for the organization’s facilities and showcases the best of its branch transformation program, focused on updating and enhancing the member experience at its financial centers. The Credit Union’s Design Team, operations executives, together with contractor Gerard Richards under the supervision of Imran Cuffy, worked for a few months to design and revolutionize member experience at this new branch.
“We are proud to serve the St. Joseph community with this new location,” said Mrs. Veronica Andrew, General Manager of West Coast Credit Union. “We think the experience inside the branch will provide the best service through improved human interactions and customer service. Members will notice a difference from the second they step foot in the branch.”
The interior design features modern white color variations, furniture and finishes. The interior is air conditioned and also features a seating area, Supervisor’s station, Loans office, Computer room and transaction counters with glass barriers. The branch experience includes full service options to include Loans, deposits, withdrawals and payment of utilities. Additionally, the interior will later feature a mural depicting the local history of the St. Joseph Community.
The new St. Joseph branch location is 2450 sq.ft. The Credit Union will engage five full-time employees at the location. In addition to the opening of the new location at the St. Joseph branch, West Coast Credit Union will continue the transformation of its branches across the network in the not too distant future.
West Coast Credit Union is a financial Co-operative based on the West Coast of Dominica serving anyone who lives or works in the North and West Coast. It is one of the four (4) largest Credit Unions on the Island, serving more than 3,817 members with assets of $30 Million. West Coast Credit Union has 4 locations in Salisbury, Coulibistrie, Colihaut & St. Joseph and employs a compliment of 18 staff. A not-for-profit, West Coast Co-operative Credit Union is a full-service financial institution offering banking, loans, mortgages and investments for consumers and businesses throughout the North and West Coast of Dominica.
Pictures to follow soon in photo gallery
It’s that special time of year AGAIN!
Holiday Loans for Everyone! Come in and choose the loan that Suits YOU!
The WCCCU is now offering unsecured “Water Tank” Loans. We know water is essential to our everyday lives and it is our business to bring additional relief to our members since TS Erika. .
We at the WCCCU, are going a step further and allowing our members to purchase water tanks, whichever desired.
Be it for Domestic use or for Farming purposes, we have a “Water Tank” Loan that suits you.
The amount of the loan is based on the tank size desired. Whichever you select includes the price of the tank, fittings and pipes required for installation, transportation and the plumber’s fee.
This is a package deal!
Inclusive in the package:
FATCA – FOREIGN ACCOUNT TAX COMPLIANCE ACT
On 18 March 2010, the US government enacted FATCA, to combat tax evasion by US persons holding investment (i.e. Savings and Investment) outside the United States. FATCA requires FFIs (Foreign Financial Institutions) to report directly to the U.S IRS (Internal Revenue Service), information on assets held by US taxpayer.
From July 1, 2014, Foreign Financial Institutions (FFIs) are expected to comply with FATCA. West Coat Co-operative Credit Union Limited like other financial institutions has registered with the U.S IRS.
What is a U.S PERSON?
You are a ‘tax resident’ of the United States. You can become a tax resident under two rules:
Accounts of U.S PERSONS to be reported
WCCCU is responsible to identify members, depositors and entities who are U.S. persons and to report annually to the IRS individual US persons with accounts balance of US$50,000 and over,and U.S entity with accounts balance of US$250,000 and over.
HOW WILL WCCCU BE AFFECTED IF IT FAILS TO COMPLY?
If WCCCU fail to comply, it will be taxed and unable to conduct transactions with U.S Banks through correspondent banks (i.e. sending and receiving money through wire transfers and drafts) will be affected. Also, WCCCU may be faced with legal and reputational risks and penalties.
INDIVIDUALS AND ENTITIES WHO FAIL TO COMPLY
If members, depositors or entities who are US account holder refuses consent for WCCCU to pass its information to the IRS, it will be a ‘recalcitrant account holder’ and payments made by it, and accounts held by it, will be subject to a 30% withholding tax.
Source Income is defined as: