Credit Unions

Ownership

Credit Unions believe in ownership and empowerment. As a member you automatically become an owner of your Credit Union.

Equality

When you become a member of a Credit Union, you are entitled to one vote toward how your Credit Union is ran and operated.

Financial Services

Credit Unions are concerned with the well being of it's members. Your financial future is important to us.

Credit Unions of the Bahamas

As a movement we have created a unified brand to spread awareness to our communities as a combined force while keeping our individual Credit Union branding.

The Credit Union Movement is committed to action, change and to constantly evolving our products and services, member satisfaction and employee advancement to suit and exceed our members expectations.

What is a Credit ?

A credit union is a financial co-operative organized from a group of people with a shared field of membership. This could include workers in the same factory, members of a church, or farmers in a community, to name only a few examples.

The objective of a credit union is to not only educate the members about thrift, regular savings and the wise use of credit but to provide it.  

As a co-operative, a credit union is a democratic and non-profit organization. Members invest a small amount, called a share, to join. This transaction allows members to be owners of the credit union. And, it entitles them to elect a board of directors, who set policy and may appoint a manager.

Credit Unions are the smarter choice.

Did you know that when you take a loan out with a Credit Union we take a portion of your loan payment and apply it to your savings? Leaving with money in your account when your loan is all done.

In 1976. The Bahamas Union of Teachers Executive Committee sought to investigate ways and means of propelling the membership towards greater financial security and economic stability. 

National Workers Co-Operative Credit Union Limited was the first registered Credit Union in the Bahamas. It was registered with the Department of Co-operatives on November 17, 1976.

BICCU is a co-operative that provides the highest level of financial services in a professional and friendly manner to encourage thrift, savings and the wise use of credit. 

On April 16th, 1985, the Royal Bahamas Police Force Co-operative Credit Union Limited became registered under the Department of Co-operative Development. It was fully established as a union on April 28th, 1985. By this time, more than one hundred and fifty (150) applications for membership were received.

Under the presidency of Mr. Arlington Miller, the Bahamas Public Services Union (BPSU) saw the need to assist in making life better for its members. It was felt that this concept could be achieved through the establishment of a credit union.

GBCCU is the only community based credit union in the Bahamas! We have proudly served the residents of Grand Bahama for 35 years.

The OECCU is a non-profit cooperative society in the savings and loan business. It is owned and operated by people who have joined together to save regularly and lend money to each other. 

How can I become a member?

Here is what you need:

Application Form

From the Credit Union of your choice

Photo Id

(Passport, Driver's License )

Confirmation of Employment

(Job Letter, Legitimate Source of Income

NIB Smart Card

National Insurance Smart Card Reflecting Address

Membership fees

The membership fees vary across the movement