New Governance model ACU in effect

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Emergency regulation revoked

Willemstad/Philipsburg – The Centrale Bank van Curaçao en Sint Maarten (CBCS) hereby announces that the modernized cooperative governance model adopted by the General Meeting of Members (in Dutch, “ALV”) of Algemene Spaar- en Kredietcoöperatie ACU on March 7, 2021, is now in effect.

This brings ACU’s governance model back into compliance with the legal requirements applicable to financial cooperatives. At the request of the CBCS, the Court revoked the emergency regulation on July 27, 2022.

The CBCS has advised ACU that its license has been restored. ACU is responsible for the execution of the new governance model and for recruiting members for its Supervisory Board as well as new directors.