Sackenia Jones

1st speaker speech

“Be it resolved that credit unions are not just financial institutions ”

Rebuttal

Adjudicators, opposing team, fellow team mates, ladies and gentlemen

of this house, a pleasant afternoon.. My team and I remain unwavered
in our stance against the moot “be it resolved that credit unions are
not just financial institutions”. Mr. Speaker, allow me to define the key
terms of the moot which are as follows: according to bankrate.com a
credit union is a type of not-for-profit financial institution controlled by
its members. The phrase “not just” based on stockexachange.com
means “not only” or “more than what something /someone is said to
be” and financial institutions which is defined by
myaccountingcourse.com are companies engaged in the business of
dealing with “financial” and monetary transactions such as deposits,
loans, investments and currency exchange.Given these definitions
ladies and gentlemen, we now understand the key terms. we must now
understand the motion itself. Mr. Speaker, in simple terms Credit
unions are nothing more than that their aims and purposes state they
are. To provide financial services. According to unileverfcu.org the
primary purpose of credit unions in furthering their goal of service is to
encourage persons to save money. In any given situation, credit unions
can only give financial support.

I as your first speaker of side opposition will be speaking on one

substantive, my second speaker will present on two substantives and
my third speaker will of course cement our argument and our stance
towards the motion.

With that said, let's get down to business.

When taking a propositional approach to transition, a bit of advice is

that side government take into consideration three major factors. If
credit unions are to be considered more than just financial institutions
they would need to offer more than just financial services. Secondly,
credit unions have not moved out of the financial bubble since they
were created and thirdly, credit unions offer financial services which
obtain other consequences. Proposition, I'm guessing you need to
read more because these are what make credit unions financial
institutions.

Firstly, Credit unions offer a wide range of services. Services that will
benefit the members. But what type of services and benefits are we
speaking of exactly? Financial and monetary services and benefits.
Allow me, government to identify some of the services offered by credit
unions. According to financebook.com Credit unions offer services such
as:

Low Fee/Free Checking Accounts

Share (Savings) Accounts
Debit Cards
Credit Cards
ATM Cards which i must say Are Perfect for teens who do not yet
qualify for a debit card
Student Accounts – For teens and young adults saving for the future
Investment Accounts
Retirement Saving Accounts
Mortgage Loans
Auto Loans
Unsecured Signature Loans
Student Loans- these are Federally backed loans to defray the costs of
education
Secured Loans/Secured Credit Cards – For those with less than ideal
credit histories, secured loans and secured credit cards can help rebuild
credit

Ladies and gentlemen these are all financial services. According to

digjamaica.com there are numerous services offered by credit unions
which all deal with money. My question to you my opponents, what
else do credit unions provide? You speak of these other factors but fail
to realise that these are simply by products of credit unions main
purposes. To provide financial services. According to Indian finance
minister Mr. chidambaram who commented in an article in the
money.com site on January 10,2020 ,credit unions are designed to be
cooperative financial institutions for people who share a common
bond. Did you hear that side government? Financial institutions. This is
coming from a finance minister who is obviously credible source. Let's
take it from a local point of view. According to the Jamaica cooperative
credit union league's online site, credit unions are great for building
long term financial relationships. They provide financial services to
improve economic independence of members. But you believe that
credit unions are more than that? Crazy. Credit unions serve their
members with services that have to deal with money. Money means
finance and economics. Do you need much more evidence than this.
Side government needs to be reminded of what credit unions offer and
why. If they had done their research they would have noticed that
their arguments are folly.

Another reason why credit unions are considered financial institutions

and nothing more is because of their history and why they were
created. Everything is created for a purpose and that purpose must be
fulfilled. Credit unions were created for