A Brief History

In Barbados, the Credit Union Movement began when a group of low-income earners and members of the St. Patrick’s Roman Catholic Church formed a Savings Union in July 1947.  This group became known as the Shamrock Savings Union and later the Shamrock Credit Union

The Co-operative Societies Act was first passed in the House of Assembly in 1949 and amended in 1951.  Under the Act, all co-operatives, including credit unions, were to register.

The Barbados Co-operative & Credit Union League Ltd. is a service organization for credit unions and other co-operatives in Barbados.  It was established in 1957 when Shamrock, Perseverance and Enterprise, the leading credit unions of the day, submitted an application for its registration.

Mission Statement

The Barbados Co-operative & Credit Union League Limited is the representative body of the Barbadian co-operative credit union movement which:

• provides financial services, development and technical assistance, and educational opportunities to co-operatives;
  
  

• promotes the development of people through economic and social change;
  
  

• utilizes dynamic, innovative and efficient methods along established co-operative principles to further develop credit unions and other co-operatives in Barbados; 
  
  

• commits itself to sound leadership through effective management and democratic control at all levels of co-operative organization.

Affiliations

The Barbados Co-operative & Credit Union League Ltd. is affiliated to:

           Caribbean Confederation of Credit Unions
           P. O. Box 1213
           New Street
           Basseterre
           St. Kitts

            World Council of Credit Unions Inc.
            5710 Mineral Point Road
            Madison WI 53705-4493
            USA

The League is also a member of 

            BIMAP’s Advisory Council
            BIMAP Drive 
            Wildey
            St. Michael