The Barbados Teachers’ Co-operative Credit Union Limited was formed from the basis of a buyer’s club in the early 1950’s after a Training Course was held by the Ministry of Agriculture and Education which attracted one hundred and twelve persons who were so enthusiastic, that the government officer conducting the course recommended that they get together and form a Savings Society in compliance with the Laws.
The Objectives of the Credit Union are:
- to promote thrift among its members by providing means whereby Savings can be effected and Shares in the Society can be acquired;
- to educate its members in the Co-operative Principles and Methods and the Efficient Management of its affairs;
- to create out of the Savings of its members, and otherwise a source of credit available to its members on reasonable terms and conditions; and
- to do all other acts and things as are incidental or conducive to or consequential upon the attainment of the above objectives.