The speech I am holding today is entitled “The cake’s getting smaller – consolidation and reorientation in the German banking sector", and you may be wondering what managing a credit institution has in common with this city’s famous cake, the Frankfurter Kranz … Well, both are crowning achievements in their respective professions: the Frankfurter Kranz, invented here in Frankfurt am Main in 1735 by an unknown baker, is part and parcel of this city’s history in the 18th century.
Reassurance of the Importance of credit unions Just like Prime Minister Bainimarama stated when he opened this Technical Congress, I echo his sentiments on the critical role that credit unions play. As intermediaries you serve a broad base of members from all walks of life and income levels. The credit union movement continues to be a catalyst for greater financial inclusion.