Jack Warner pledges $1M to rebuild Hindu Credit Union

Chaguanas West MP Jack Warner on Sunday pledged $1 million and called on other investors to add the remaining $299 million to make up the shortfall so no one loses at the HCU.

Warner told a meeting of HCU members (see speech printed below) he is doing it because the government is never going to help HCU members because it doesn't see them as equal citizens.

Brother and sisters, I have come here today to bring you good news. But you must be prepared to receive the good news I so happily carry. In fact, I believe that if you truly embrace what I will tell you about this afternoon you will in time look back at this moment as the turning point for you in the HCU. You will one day say to your children I remember that afternoon Jack Warner brought all of us in the HCU the news that ensured things would never be the same again.You see my brothers and sisters I know the discrimination you endure.

In a different way I too have had to bear its burden. And when any one of you is hurt, I am hurt. When they treat you any less fairly than those in CLICO, they treat my family badly for that is what you are to me. Family.

And I will this afternoon prove that my heart is in the right place. I will demonstrate to the wicked, heartless, PNM government that they cannot destroy us. So please, gather around my brothers and sisters, set aside for just a few minutes, your worries and your self doubts, your anger and your frustration, your fears and your nightmares and open your hearts and minds to the message I bring you here today.

You have convinced yourself that you are weak. You have allowed Manning to break your spirit. You have succumbed to a sense of worthlessness. In the midst of your anger you have forgotten who you are. You have given Manning a power he doesn't have without your permission.

So this afternoon I will show you how it is we will rebuild HCU and the lives of those who are a part of it. But just before I provide you with those details allow me to tell you why no one will reach out to help you.First of all, this government doesn't see you as equal citizens. They see you as UNC voters at worst. Others in the corporate world or even some sections of the media see you as losers, depositors who lost out by being members of the once powerful HCU.

But I ask you this afternoon, is that how you see yourself? Is that how you will ALLOW people to see you? Do you have any idea of how strong you really are? The Hindu Credit Union through the collective might of its membership is a powerful institution. You must come to terms with that. Get off your knees!

You don't need a handout or bail out from Manning or anyone else! The future doesn't lie in their hands but in our very own hearts and minds! We are not beggars but builders of our own destiny! We are not hapless victims of circumstances beyond our control but hope-filled victors dictating exactly what happens and where we go from here! Be strong! Stop expecting Manning to help us when we can help ourselves without having to grovel before him.

We are hardworking people who never sought nor received a handout. We are endowed with an entrepreneurial spirit. Let us begin our own survival plan. Starting now, The HCU stands for How Can U play a part.

I begin the process by pledging one million dollars towards the rebuilding of HCU. I call upon 299 others to come forward and do likewise.By doing so, let us do four things. Let us:

1. Set up a new company whose shareholders will be the existing members of the HCU together with several new shareholders (businessmen) who will be encouraged to inject the alleged shortfall of $300 million between assets/liabilities. In my opinion this new company will have to be set up under the Companies Act but will be similar to an existing finance company ie. non banking financial institution

2. Purchase the existing business from the receiver that is to say both the assets and the liabilities portfolio using the cash injected and existing members' shares

3. Put together a new Board of Directors to run the new company – such Board to consist of existing HCU members and the new shareholders

4. I am offering to inject the first $1.0 million on the assumption that other businessmen would be that way inclined.In addition to the four points I have discussed, I have already filed a Motion on the Adjournment for this Friday in Parliament titled: "The failure of the Government Regulator to protect the depositors of the Hindi Credit Union" when I intend to present cogent reasons to indict the Government.I also intend to be unrelenting in my fight with the Government on your behalf and so I also intend to file a Private Members' Motion on this matter as well.

Many of you are asking me why the UNC did not act for you strongly on this matter before and all I am prepared to say to you is that I am glad that, after several months, the Party has finally accepted my advice to fight on your behalf.

And it is doing so now. It is no point in withdrawing your money from Republic Bank now through fear or through anger. Nothing is to be gained from that, for Republic Bank still remains one of our strongest banking institutions.My family still has all our business deposits there. What is important is that you use your anger to build once again.

Let us demonstrate that no one will discriminate against us and win, least of all the present PNM Government. We have the will to survive.

We have the brain power to survive - the doctors, lawyers, accountants and businessmen, to name a few must help us. The HCU was built on the blood and sweat of the poor man - the market vendor, the Borough worker, the sugar cane worker.

Our forefathers did not sacrifice in vain for someone like Manning to break our stride. Let us use the injustice of it all to inspire us to win.

I, Jack Austin Warner, do hereby pledge all my efforts to see the Hindu Credit Union regain its strength. I will take our message to all corners of the earth and we will eventually emerge victorious.

I ask only one thing of you. I ask you to go deep within and find that self belief that has made you as a people so successful and independent and envied and discriminated. My one million dollar pledge is just the dawn of a new era.

I am from Central Trinidad - Longdenville to be exact. Like many of you I too cut cane and dance cocoa. My family's home in Longdenville was built from funds from the Sugar Cane Welfare Board whose office was in Couva.

So stay tuned PM Manning, stay tuned, the show of HCU strength has only just begun. One by one, brick by brick, we will rebuild our Hindu Credit Union.

H, How; C, Can; U You help, HCU begins now. The battle lines have been drawn; the journey now starts and I am your jahagi bhai.

I thank you.