While some credit unions are trying to comply, it is sad to note that non-compliance is still a wide spread problem in many credit unions. Some examples of areas for compliance include submission of timely audited financial statements and reports, holding of annual general meetings, proper election of officer bearers and paying your dues to the Solomon Islands Credit Union League (SICUL).
I hope as a result of this workshop, we will see more effective compliance with the legal requirements under the Credit Unions Act 1986. Role of credit union in the development the financial system I turn to my second point: where do credit unions fit in the financial system and what is their role in the development of the financial system?