Have you ever wondered what makes a house a home? Simply defined, a house is a building where people live. Add a sense of belonging, mix in emotional connections and memories, and sprinkle some personal style, and now we have a home.
Whether it’s for a first home or forever home, everyone has imagined their dream home at some point in time. But your dream home can be more than a dream. Here are some tips to help make it a reality.
Start with a brainstorming session
While you may have been thinking about your dream home for years, have you ever written down its characteristics or a description of how it looks? As you begin the process of making the home of your dreams a reality, a brainstorming session is an important step. Browse through magazines and photos for inspiration, making notes of what you like and don’t like. Consider the number of rooms and bathrooms, layout and, important for our region, climate smart characteristics such as natural ventilation and lighting, as well as wind and impact resistant features. Be as thorough as possible in this stage, even making notes of finishings and fixtures. Don’t be afraid to put it all down; this is your dream home wish list!
With your wish list complete, the next step is to prioritize the list by identifying your needs and wants. Essentially, you are separating the must haves or non-negotiables from the nice to haves. For example, a home office is a must have if you work remotely, but a separate entertainment centre is probably just nice to have.
Set a realistic budget
To set a realistic budget, you must know how much things cost. Research all the associated costs, keeping your wish list in mind, and have a discussion with your financial advisor to establish a reasonable and realistic budget. You may have to revisit the priorities on your wish list and adjust the plan, for example, to scale down the building’s size or leave some features for future projects.
Work with the right team
The process of building your dream home can be stressful. That’s why it is necessary to engage the right team to execute your vision. Retain an architect and contractor whose style and experience match the home you want to build and who communicate well with you. If you are a first-time builder, consider adding a project manager to the team to help you navigate the process. Also, be cautious of short cuts and promises to do things cheaply; it might cost you more in the long run.
If you’re hoping to buy your dream home rather than build, these tips still apply. Put together your wish list and prioritize based on needs and wants and set a realistic budget. Then, as you begin the house hunt, work with a trusted real estate agent who understands your vision.
You may not be able to build your home exactly as you dreamt it, but you can still bring elements of it to life. Make an appointment with one of our officers to explore our financing options to see how we can help you bring your dream home to life.
Take a moment to imagine your ideal piece of land. Does it have a view? Chances are it does. What kind of view are you picturing? Is it a sea view or mountain? Are you looking out onto a lush valley or seeing the twinkling lights of the town? When it comes to buying land, many prospective buyers place having a view high on their list of must haves, and for good reason.
Go back to that image of your ideal lot of land. Now think about what you want to see when you look out of the window when you wake up in the morning or sit on the verandah with a cup of tea, enjoying nature. How does this make you feel? When going through the process of purchasing land, it’s not uncommon to feel an emotional connection with the property that may one day be yours. This process is a major life milestone, and you want to make sure that it also feels right. And, having an impressive view definitely helps.
Thanks to our country’s mountainous terrain, stunning views are all around. However, also thanks to this mountainous terrain, fully enjoying the view will most likely involve building on a slope. While sloping land offers great views, it is important to understand that the cost of construction may increase as the terrain gets steeper. Unlike a flat lot, there are additional factors to consider when building on a slope, including the degree and orientation of the slope and how much excavation will be required. You will also need to consider the vegetation, soil type and drainage. If you are planning to build on top of a hill, for example, you must also consider road access and utilities. Building your house on a slope, therefore, requires careful planning and strategic execution. Yes, we’d love for you to have the view of your dreams, but we also want to ensure that you cover all your bases.
Here at Co-op Bank, our dedicated teams are ready to get you on your way to enjoying the views you’ve been dreaming about. Start by sitting down with one of our lending officers to figure out what is possible based on your current financial situation. With our mortgage loans, we offer attractive interest rates with easy repayment terms and our officers will assist you throughout the process, from application to approval. Then, it’s time to start searching. Browse through the listed properties on the real estate section of our website or work with a trusted real estate agent to find options that suit your budget and needs.
If you’ve been waiting for a sign to explore land ownership, this is it. To learn more about Co-op Bank’s real estate options, visit https://www.grenadaco-opbank.com/personal/real-estate or take a look at our borrowing options for mortgages here: https://www.grenadaco-opbank.com/personal/borrowing/mortgage-loans
When it comes to new year’s resolutions, people around the world have been promising themselves to do things differently in the new year for centuries. Whether that means travelling somewhere new for vacation, starting (and sticking with) a new hobby, or pursuing professional development goals, the new year is full of possibilities.
At Co-op Bank, we support all your new year resolutions and goals, from healthier lifestyles to entrepreneurship, and everything in between, like saving for university or financing your dream home. This year, we’d like you to add something else to your list – investing. Don’t worry, it’s not as scary as it sounds, and you don’t need to win the lottery to start. Let’s look at how our wealth management services can help you meet your financial goals through investment.
Meeting Your Financial Goals Through Investment
An investment is an asset that you buy with the expectation that it will generate income or increase in value over time. Investing, then, is a way to put your money to work to reap the rewards in the future.
Before we can discuss how Co-op Bank can help you meet your financial goals through investment, let’s define some other key terms:
- Securities: financial products or instruments issued by companies or governments to raise capital. There are two main types of securities: Equity and Debt.
- Equity (also referred to as stocks or shares): ownership in a company that comes with specific rights, including the ability to share in profits and to earn capital gain on the sale of your securities.
- Debt Security: a loan that investors make to the issuing company or government. Debt securities include treasury bills, notes and bonds with varying maturities, beginning at 91 days.
- Dividend: a periodic income payment from the profits of a company made to its shareholders.
Investing in Grenada
The Eastern Caribbean Securities Exchange (ECSE) is the securities exchange that operates the Eastern Caribbean Securities Market (ECSM) within the Eastern Caribbean Currency Union (ECCU). A Broker-Dealer is needed to buy or sell securities on the ECSM. Grenada Co-operative Bank Limited (GCBL) is Grenada’s only licensed Broker-Dealer on the ECSM, which means that through Co-op Bank, you can invest in ECSM-listed securities as well as in unlisted securities issued in Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.
About Co-op Bank’s Wealth Management Services
GCBL has been a licensed ECSE Broker-Dealer since 2015 and offers a range of investment solutions and services for individuals and businesses, such as investing in equities and debt instruments. Our wealth management team can also facilitate the raising of capital through the issuance of equity and debt securities. To get started on your investment journey, you will need to establish a brokerage relationship with GCBL as your broker. Then, one of our licensed wealth management representatives will meet with you to discuss your investment goals and objectives, your current financial obligations and your risk appetite. Together, you will create an investment roadmap that works for you.
It is important to note that while investments provide an opportunity to earn returns greater than the interest paid on regular savings accounts and allow for greater growth in value over time, the risk is higher. Therefore, you should only invest if you are prepared to take on the risk that the investment value may fluctuate. As a new investor, start by investing what you can afford to lose.
Get started on your investment journey this new year. Our wealth management representatives are ready to assist. To learn more about investing and Co-op Bank’s wealth management services, visit https://www.grenadaco-opbank.com/investment/
The holiday season is the perfect time to reap the rewards of your Co-op Bank Visa credit card. Using the reward points you earned throughout the year, you can get gifts for people on your Christmas list without taking away from your holiday budget.
Let’s recap how the Visa My Rewards program works.
Earning Points and Miles
Whenever you use your Co-op Bank Visa Classic, Infinite or Signature Business credit card, you earn one (1) point/Mile for every US $1 spent. One point/Mile is equal to US$0.012. These points/Miles are available for use anytime and anywhere through your digital Miles Card.
Redeeming Miles
To begin redeeming Miles, download the My Rewards by Visa Loyalty app from the App Store or Google Play Store and create your account. Then you can Pay with Miles in-app at thousands of preferred merchants, such as Amazon, Best Buy, Macy’s and Walmart. Thanks to the digital Miles Card, you can also Pay with Miles at worldwide merchants online by simply inputting the digital card information. You can also add your Miles Card to your e-wallet for contactless transactions at physical stores.
When it comes to your Miles, the gift-giving possibilities are endless! How does a vacation sound?
Your Visa My Rewards membership includes access to Voyage, an online booking engine for flights, accommodation and rental cars with top tier travel benefits. Use your Miles on Voyage to book reservations that are 100% changeable. Other perks include instant compensation for baggage and flight delays and lost baggage. Added to this is coverage for medical emergencies, and purchase and personal device protection so you can travel with peace of mind.
Unlike other reward programs that deduct the points when you redeem them, My Rewards offers upperMiles, where you earn extra miles by paying with your Miles. So, Pay with Miles this Christmas and get a head start on racking up the rewards for next year.
To learn more about Co-op Bank’s Visa credit cards, visit www.grenadaco-opbank.com today.
When it comes to the festive holiday season, we can identify two groups of people. The first group, let’s call them the festive, are the ones who go all out every year, cleaning, painting and decorating everything in sight. Then, there is the second group, the caught off guard. They are the ones you are certain to hear exclaiming, “Christmas is next week already?!”
There are, of course, overlaps between the two groups, but whether you’re one of the festives or find yourself always caught off guard, getting ready for the holiday season can be overwhelming when it comes to your finances.
That’s why we’ve put together a few tips to reduce the anxiety around overspending this holiday season.
Start early
It’s never too early to start putting things in place for the holidays. Get a head start on the planning by making a list of all the things you need, and want, to do. What do you need to do to get the house ready? Do you need to paint, pressure wash, cobweb the ceilings, or get new curtains and cushions? Add it all to your list.
Then, think about the events and activities you’d like to attend over the holidays and add those to the list too. Don’t forget the gifts! Your list should also include the people you’d like to give gifts. Finally, add your grocery shopping to your master list.
Make a holiday budget
Using the master list as a guide, make a detailed budget for your holiday spending and try your best to stick to it. Depending on your circumstances, you may have to forego some things and get creative. For example, do you need to buy new curtains, or can you repurpose an older set? When it comes to gift giving, instead of buying gifts for everyone on your list, you can try a gift exchange or ‘Secret Santa’ with your family and friends. If that’s not possible, set a budget for each person and aim for gifts that are meaningful and memorable. This could mean making the gifts yourself or choosing experiences that allow for quality time with your loved ones.
Once you have an idea of how you will approach your holiday spending, try to get your shopping done as early as possible to avoid the rush in the days leading up to Christmas.
Take advantage of sales and specials
Many businesses will soon announce their Christmas sales and holiday specials that you can take advantage of. You’ll have to be strategic and shop around to find the best deals that align with your holiday budget. Remember, just because it’s on sale does not mean you have to buy it.
Be on the lookout for holiday scams
The holiday season is a prime time for scammers looking for unsuspecting victims. Stay vigilant and don’t click on any suspicious emails or text messages promoting amazing deals. If it looks too good to be true, err on the side of caution and delete and report the message.
These tips should help alleviate some of the anxiety around holiday shopping and overspending. Start early, stick to your holiday budget, take advantage of the sales, don’t fall for any scams so you enjoy the season with your family and friends.
At Grenada Co-operative Bank Limited, we are committed to providing our customers with the best banking experience possible. That’s why we continue to upgrade our products and services. For example, our eBanking platform provides you with swift, simple and secure management of your funds whenever you need it, and our new smart ATMs make cash deposits a breeze.
However, we need your assistance to continue serving you better. How can you help? By updating your personal information.
Why Update Your Personal Information
The Bank has legal and regulatory obligations to accurately and efficiently manage all our customers’ accounts, which involves keeping up-to-date customer data. This goes beyond compliance for us here at Co-op Bank. We want you to have a seamless experience when banking with us.
For Enhanced Security
We utilize different authentication methods to secure your online accounts against unauthorized access, with one method being a verification code sent by email or text message. For example, when logging in to your eBanking account, you will be prompted to enter a verification code. If you changed your phone number recently, and did not update your customer data, then you would not receive the verification code and would not be able to log in.
For Enhanced Communication
We want to ensure that you receive timely notices about your account with us. With your correct information, we will be able to reach you easily when the need arises. Additionally, using demographic data, we can tailor our communication to provide you with details about our suite of products and services that make the most sense for you.
Updating Your Personal Information
If you recently changed your telephone number or primary email address, please update your information with us as soon as possible. Other instances when you should update your customer information include if you have a new residential or mailing address, if you had any legal name changes, or if you had any changes to your employment.
To update your information, you can use the secure messaging feature in the eBanking mobile app or visit your nearest Retail Banking Unit.
Our customer information team may contact you for periodic verification of your customer data. However, we will never ask for your eBanking log in credentials – user ID or password, account PIN or other credit card information, or ask you to transfer funds to an unfamiliar account. If you do receive a suspicious email or text message from us, please report and delete the message immediately.
To learn more about the Bank’s drive to update customer information, visit https://www.grenadaco-opbank.com/banking-with-us/update-personal-records/
On Sunday 18th August, at the national celebration rally honouring Grenada’s Olympic heroes, Grenada Co-operative Bank Limited proudly presented Kirani James with a cash award of EC$125,000, in recognition of his outstanding performance at the recently concluded 2024 Paris Olympic Games.
Kirani James, the world’s most decorated 400m male athlete, made history once more at the 2024 Paris Olympic Games as the first male athlete to appear in four consecutive Olympic 400m finals. The 2024 men’s final was the fastest 400m in Olympic history, as the top 5 finishers all recorded times below 44 seconds.
Mr. Willvorn Grainger, Chief Experience Officer, made the presentation on behalf of the Bank. “We are extremely proud of our ambassador Kirani. We have witnessed Kirani’s growth, his perseverance and achievements, both personally and professionally. Since 2012, we have been with him throughout his journey through the exciting and challenging times, from London to Rio, Tokyo and Paris, and we intend to extend our partnership beyond Kirani’s athletic career. Kirani has become part of the Co-op Bank family.”
“As the only full-fledged, local commercial bank on island, it is only fitting that we support our local talent to assist them in achieving their full potential,” Grainger remarked. “We are not just a commercial bank. We are deeply rooted in and responsive to the needs of our communities.”
The Board of Directors, management and staff of the Bank also extend congratulations to Kirani on his investiture as Commander of the Order of the British Empire, as well as Companion of the Order of Grenada, one of Grenada’s highest honours, for his distinguished achievements that have brought international prestige to the nation.
The celebration rally, held at the La Sagesse Playing Field, brought the curtains down on a weekend of homecoming activities for Grenada’s 2024 Olympians. Olympic bronze medalists Lindon Victor and Anderson Peters, 100m runner Halle Hazzard, and swimmers Zackary Gresham and Tilly Collymore were also honoured and celebrated. Grenada Co-operative Bank joins the nation in congratulating these outstanding athletes and wishes them continued success.
Right now, more and more people are choosing experiences over things, ticking items off their bucket lists and taking trips of a lifetime. What are your travel dreams? Is it seeing one of the Seven Wonders of the World? How does a luxury river cruise in Europe sound? Perhaps you’d like to take in the sights and sounds of Times Square and catch a show on Broadway. Maybe, you dream of a cultural immersion in a country on the other side of the world or something closer to home with a staycation at one of Grenada’s world-class resorts.
Whatever it is, your dream vacation awaits.
At Co-op Bank, we understand that when wanderlust strikes, it’s time to make memories, not excuses. That’s why our simple and convenient consumer borrowing solutions can help you turn your travel wish lists into travel reality.
Our consumer loans are designed with you in mind to meet your financial needs. We offer a hassle-free application process, quick approvals, and no hidden fees or charges.
And it gets even better. We’re still celebrating Grenada’s 50th anniversary of independence with our Banking on a Bright Future promotion. Enjoy discounted interest rates on financing up to $50,000 unsecured and pay 50% on loan fees.
Our Visa credit cards are another way to get you on your way to vacation. With three options, Visa Classic, Infinite and Signature Business, our credit cards are tailor-made just for you, and the more you spend, the more you earn with the Visa My Rewards program. You’ll earn one point for every US $1 spent, so rack up the points to get the best travel deals on flights, accommodations and car rentals.
Ready for your dream vacation? Here are some tips to get you started:
- Do your research
- Create a vacation mood/inspiration board for your vacation. Are you looking for adventure or relaxation or a mix of both? Make notes of everything you want to see and do.
- Identify the ideal time of the year to visit and any travel requirements such as visas or health recommendations.
- Explore the destination’s accommodation and transportation options.
- Calculate the costs
- Create a budget tracker with all your projected expenses. Include flights, accommodation, ground transportation, meals, excursions & experiences, and souvenirs. Also consider pre-travel expenses like travel insurance, visas, and new clothes/gear.
- Make an appointment with a Co-op Bank loan specialist
- Our loan specialists will guide you through the process to determine the best loan option based on your budget and current financial obligations.
Co-op Bank is here to make your dreams come true. Whether it’s an epic solo adventure or a relaxing trip with family and friends, we’ll find the right financing option for you. Contact us today to learn more about how Co-op Bank can turn your dream vacation into a reality.
St. George’s, May 21, 2024, Grenada Co-operative Bank Limited proudly announces the launch of its dedicated unit for Micro, Small and Medium-sized Enterprises (MSMEs). The launch event, which was held at the Spice Island Beach Resort on May 15, 2024, introduced the Bank’s new comprehensive program of MSME solutions.
The MSME Unit’s launch is a significant milestone in Co-op Bank’s growth and development. “Co-op Bank is not new to the MSME market and has been a key MSME partner over its 91 years of existence. We have supported micro, small and medium sized businesses across many sectors that are today thriving commercial enterprises,” remarked Darryl Brathwaite, Chairman of the Board of Directors of Grenada Co-operative Bank Limited. “No business has been too small, and no dream has been too big to receive our support. The support for MSMEs is very much in line with the ethos and principle of our founding fathers, which is to provide banking solutions to Grenadians from all walks of life.”
“Access to financing is critical for any enterprise, especially for those just starting out or looking to expand. The needs of our MSMEs are unique and as such it was imperative for us as a bank to take a comprehensive approach,” explained Larry Lawrence, Managing Director of Grenada Co-operative Bank Limited. “Therefore, we embarked upon developing a customized suite of solutions and engaged partners to put together a well-thought-out program that we deem necessary to help these businesses succeed.”
In addition to enhanced lending policies and a suite of products, the new MSME Unit has executed agreements with service providers to offer specialized support for its MSME customers. These support services are in the areas of Accounting & Finance, Technical Support, Website Development, and general Business Development. The MSME Unit has also developed an engagement plan with designated Relationship Managers to connect with, train and educate customers through interactive newsletters, workshops and seminars, and in-person visits.
Entrepreneurs and business owners within the MSME sector are excited by the new services designed to cater to their specific needs. Reflecting on the launch event, one of the entrepreneurs said, “It’s good that there is a bank that really cares about us as micro and small businesses. As they mentioned today, sometimes you get overlooked so we are quite happy that Co-op Bank is actually looking at us and giving us very practical solutions and ideas.”
Co-op Bank is committed to being a trusted partner and working with micro, small and medium sized businesses to ensure their success. To learn more about Co-op Bank’s new MSME solutions, email [email protected] or call 473-440-2111 to set up an appointment with one of our MSME Relationship Managers.
