CARIBBEAN CONFEDERATION OF CREDIT UNIONS 53rd Annual International Convention 2010

EMBRACING A NEW PARADIGM Sis EMBRACING A NEW PARADIGM FOR THE ERADICATION OF POVERTY

The Caribbean in World History The modern Mediterranean; The modern hub of European expansion through mercantilism

Global Models from the Caribbean: Financial institutions Sports Icons Cultural symbols Literary and intellectual giants

The CCCU Model Over 350 member credit unions with substantial capitalization; Over 2.2 million members in some 18 countries; .

Over $700 million in savings; CCCU Model (Ctd) Over $700 million in savings; Over 639 million in loans; Over 2.5 billion in assets.

Its success bears evidence to the merits of the vision for CCCU SUCCESS Its success bears evidence to the merits of the vision for a new paradigm for the eradication of poverty.

The Credit Union Movement has made its mark on the world scene; CCCU SUCCESS (Ctd) The Credit Union Movement has made its mark on the world scene; And secured its place of honor in the region.

The CCCU CHALLENGE To look beyond the Anglophone Caribbean; To embrace the emerging New Paradigm against Poverty among 150 million persons of African descent in Latin America;

CHALLENGE TO CCCCU (Ctd) To assess the New Paradigm opportunities for profitable financial services ; To venture into virgin territory with a Network of Credit Unions and Indigenous Banks in Central America and South America.

The Prospects for Success Population size Cultural assets Market potential Physical & natural resources

of Africandescendants Demographics of Africandescendants Latin America generally 150 million Non-hispanic Caribbean 14.4 million Costa Rica 645,000 Honduras 630,000 Panama 448,000 Nicaragua 396,000 Guatemala 246,000  

Demographics of African descendants

of African descendants Demographics of African descendants

Official Country Figures Demographics of African descendants Countries/ Areas Official Country Figures New Paradigm Research Figures Latin America 120 million 150 million Non-hispanic Caribbean 14.4 million Costa Rica 645,000 Guatemala 246,000 Honduras 630,000 Nicaragua 396,000 Panama 448,000 1,100,000

Synergy of the New Paradigm and the Credit Union Movement A War on Poverty in the Americas

USAID Report on Latin America (2004) states, POVERTY vs ASSETS USAID Report on Latin America (2004) states, 44% Latin Americans are now poorer; 20% suffer extreme poverty; 79% Hondurans live in poverty; 50% Unemployment in Nicaragua; 40% Unemployment in Colon, Panama.  

The New Paradigm Concept The old development models of the North, the UN sponsored Aid programs , and even CAFTA, have all failed this population.

There exists an invisible majority II There exists an invisible majority that outnumbers the privileged oligarchies;

These populations own resources : III These populations own resources : Prime areas of coastal land; Skills in the creation of cultural products; Environmental assets and water supply;

new business partnerships, They have untapped resources Vital for creation of new wealth, new business partnerships, and new jobs.

They can utilize their skills to create products for community consumption and trade among themselves as well as with others, within and outside the region.

They have vital ethnic links IV They have vital ethnic links with the Diasporas of the North; as potential partners, investors, and traders; 40 million African descendants in the US & Canada; A Caribbean and Central American population contributing $10 billion of economic activity in the US alone, annually.

New Paradigm Strategy: Local academic institutions as partners; ii Community participation in Master Planning; iii Access to credit and financing for bundled feasible projects;

Market Organization, Market penetration Market expansion iv Market Organization, Market penetration Market expansion for Viable, but fair, two-way trade, South-South and North-South.

Not in African descendant communities. FERTILE TERRAIN Marked expansion in Credit Unions BUT Not in African descendant communities.

Panama - 89 new cooperatives, mainly credit unions, in 2008, and 18% growth in 2009. Guatemala - 12% in credit unions; Costa Rica - 8%. No black communities impacted.

CCCU Prospective Partners The Southern Caucus Access to Finance Task Force headed by Dr Byron Blake. La Cooperative San Cristobal Sole black financial institution

Construction, Agriculture & Trade Profitable funding CCCU PROSPECTS with the New Paradigm Construction, Agriculture & Trade Profitable funding And investment opportunities in ten major Afrodescendant communities of Central America.

$5 million to generate $200 million of new economic activity A Development Fund $5 million to generate $200 million of new economic activity ($20 million of feasible projects per Province)

& Capacity Building Investment Fund $500,000 for each of 10 Provinces A Master Planning & Capacity Building Investment Fund $500,000 for each of 10 Provinces to generate $20 million of business activity each. A total of $200 million in the region.  

The Vision An economic proposal for business expansion; An invitation to participate in bold new collaborations; A clarion call to contribute to a new era of sustainable economic development for the wider region.