Credit unions have an important role in the further economic diversification of Tobago.

This is the view of Secretary of Finance and the Economy Joel Jack, following Credit Union Month celebrations on the island in October.

During Wednesday’s media briefing, Finance Secretary Joel Jack thanked the credit unions for “coming on board and supporting entrepreneurship and business expansion on the island”.

“I recognise the important role that credit unions play in the Tobago landscape,” Jack said, adding that “alternative mechanisms” are needed to advance the island’s development.

Jack said he wants to see a return of the Junior Cooperative initiative to help primary and secondary schools students save money “outside of our piggy bank at home”, adding that there are plans to expand the programme in conjunction with the Cooperative Credit Union League of Trinidad and Tobago.

The Finance Secretary said this year’s Youth Forum was a success, and that his Division plans to partner with credit unions to host the next edition.

The Youth Forum was hosted by the Tobago Chapter of the Credit Union League.