A Brief History

In Barbados, the Credit Union Movement began when a group of low-income earners and members of the St. Patrick‚Äôs 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.

 

See also: A history of credit unions (From Wikipedia, the free encyclopedia)