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PRESS RELEASE - Grenada Co-operative Bank Ltd


									                                                PRESS RELEASE

                            “HARNESSING THE POWER OF CO-OPERATION”

Grenada Co-operative Bank Limited (Co-op Bank), the Grenada Public Service Credit Union
Limited (PSCCU), in conjunction with the Caribbean Credit Card Corporation (4C’s) have
formed the CONNEX brand. From this brand both Co-op Bank and PSCCU have issued co-
branded Visa International Debit Cards.

Members and customers of PSCCU and Co-op Bank will be provided with safe, convenient and
easy purchases and would have access to over thirty (30) million merchants worldwide.
Cardholders would no longer need to carry large amounts of cash and merchants can enjoy
instant processing and confirmation of transactions.

When members and customers use their Connex branded Visa International Debit Card in ATMs
and Connex branded Point of Sale (POS) Machines, of the Public Service Co-operative Credit
                                                                                    Union and Grenada Co-operative
                                                                                    Bank        Limited,         they
                                                                                    automatically receive the added
                                                                                    benefit of reduced cardholder
                                                                                    transactions fees compared to
                                                                                    use at other ATMs and POS
                                                                                    Machines. The Connex® Logo
                                                                                    would identify the ATMs and
                                                                                    Merchants who would facilitate
Left to right: Mr. Jessel Gadsby, General Manager, 4Cs; Mr. Richard W. Duncan,
                                                                                    this unique experience.
Managing Director, Co-op Bank; Mrs. Lucia Andall, General Manager, Public Service
Credit Union; Mr. David Reeves, Consultant

The three Indigenous Institutions, the Caribbean Credit Card Corporation, the Grenada Public
Service Co-operative Credit Union and the Grenada Co-operative Bank Limited, who gave birth
to the CONNEX Brand have formed the company “CONNEX (GRENADA) INC.” to facilitate

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                                    PRESS RELEASE

the extension of the Connex network and hence the Connex Experience locally and within the

The owners and founding shareholders of the Connex Brand is committed to providing the
citizens of the Eastern Caribbean the modern convenience of easy and cost effective full
electronic access to their funds while traveling within the states of the OECS. In furtherance of
this commitment the Company will permit any indigenous financial institution to become a
participant within the Connex ATM and POS networks through sponsorship by anyone of the
founding shareholders.

The company is committed to the use of best practice operating standards and continued
compliance with regulatory bodies at all times, at maximum effectiveness and minimum cost. It
will endeavour to pursue the usage of the latest available technology infrastructure to meet the
expectations of all participants within its ATM and POS networks taking into consideration the
ever changing demands of the market place.

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