Credit Unions Are

Popular

With Fijians

a rather hesitant beginning, -*■ no less than 45 Credit Unions are now registered in Fiji and show indications of being, an important factor in economic development of the Fijians.

The idea was brought to Fiji in January, 1954, by the Rev. Father M. Ganey, SJ, of British Honduras, at the invitation of the Governor of Fiji.

On the occasion of World Credit Union Day, the third Thursday in October, the Fiji Central Commit tee of the move ment issued a summary of pro gress.

The 45 unions have a total of £12,500. Sixty new unions are await ing pre-registra tion investigation.

In Suva 12 dif ferent groups have been formed and several more

are awaiting

sanction.

Mr. Roy Bergengren, past-presi dent of the Credit Union National Association of America, commenting on the Ordinance to regulate credit unions which was enacted in Fiji in July, says, “When I think of how some of our most powerful leagues fumble the ball every time they seek legislation, I marvel that your legislators in Fiji were able to draft and pass such a good law so early in the game.”

The Fiji Ordinance was set up under the advice of a provisional committee headed by Mr. J. N.

Falvey, MLC, which assisted Father Ganey. A central Credit Union office has been established in Car narvon Street, Suva.

The Fiji report shows that there has been a surprising absence of delinquent loans. There is also a genuine eagerness of the people to assimilate accepted economic practices, and they have ability to develop management at an early stage.

Some extraneous capital may be required during the formulative years, says the report, but it is an ticipated that the unions will be self-sustained within five years.

U Sir Henry Milne Scott, of Suva, who had spent some weeks in Aus tralia, returned to his home in Fiji early in November.

Father M. Ganey with members of the newly-formed Fiji Police Credit Union when they opened an account recently at a bank in Suva. The Fijians shown in the picture are

Inspector Jiorji Sugaturaga (President), Constable Simione

Memoivalu (Secretary) and Sgt. Poasa Tuinakelo (Secretary).