A meeting was held with the Registrar of Friendly and Building Societies – Mr. Michael Alonzo Seales and the Treasurer of the General Building and Loan Association (GBLA) Mr. Richard Halfhide on Wednesday 8th September, 2021. The purpose of the meeting was for the Registrar to have an understanding of the operations of GBLA. GBLA is a financial organization registered under the Building Societies Act. Their contact is 623-7640, email:buildtt@gmail.com
Information coming out of the meeting is that GBLA was established in 1957 and has a membership of approximately 249 persons with a current asset base of 40 million dollars which represents mortgages and a building. Some of the services which they offer are mortgages for housing and repairs, Save As You Earn (SAYE) Account, TTARP for the aging membership and deposit and fixed accounts. Their niche market is currently attracting persons 45 and over who are applying for home repair loans.
Some of the areas where emphasis is placed on for the strengthening of this organization: are the Amendment of the Building Societies Act, Amendment of the Building Societies’ By Laws, partnering and establishing synergies with Credit Unions and Friendly Societies and creating products and services to the competitive market.
Hereunder is a pic with the Registrar and the Treasurer of GBLA
