ECCB Governor Pushes Credit Unions to Innovate and Build Regional Resilience

ECCB Governor Timothy N.J. Antoine speak up at the opening of the 18th OECS Credit Union Summit, calling on credit union leaders to get tough, get smart — to embrace resilience and innovation if they really want to push growth in the region.

He remind them that credit unions can’t just rely on tradition or old ways anymore. If they want to stay relevant, they’ve got to lead in fields like food production, health, energy — places where the region’s bleeding right now.

Antoine drop facts: eight in ten deaths across the currency union are tied to noncommunicable diseases — diabetes, cancer, stroke — illnesses that weaken communities and kill productivity. That, he say, makes strengthening food systems and wellness part of financial strategy.

On trade and imports, the Governor note a recent private sector study. It found that by diversifying import sources — tapping new markets like Turkey, Mexico, Malaysia — the OECS could save US$261 million yearly. He push credit unions to invest in supply chains, import hubs, and regional trading to drive down costs.

He also call out energy: “We can’t gripe about how hot the sun is if we still burning diesel and paying 30–40 US cents per kilowatt hour.” He say they must transform energy systems to reduce cost, increase stability, and show that small economies can make bold transitions.

Antoine remind credit unions that they’re more than deposit boxes — they should be engines of community development, innovation hubs, and partners in the fight against climate, health, and economic fragility.

If credit union leaders take his words seriously, this summit might mark a turning point, from reaction to action, from survival to leadership.