Search results for : Credit Unions

Showing 11 to 20 of 181 results


News Article

June 10, 2015
Central Bank assumes regulatory oversight of credit unions

Central Bank of The Bahamas (CBOB) Governor Wendy Craigg yesterday welcomed the transition of the regulatory and supervision responsibilities for the country's credit unions from the Department of Co-operative Development to the Central Bank as a crucial step in further promoting the sector's impressive growth.

read more »


News Article

April 16, 2015
Bethel: Govt could be liable for losses from small credit unions

Since the government has provided a mechanism that exempts cooperative credit unions with assets less than a million dollars from what Free National Movement (FNM) Senate Leader and former Attorney General Carl Bethel termed "certain financial due diligence requirements", he said the government could be held "absolutely liable" for any losses depositors incur as a result of that exemption...

read more »


News Article

April 09, 2015
Senate Contribution by Senator, the Hon. Allyson Maynard Gibson QC Attorney General and Minister of Legal Affairs on The Bahamas Co-operative Credit Unions Bill

Madam President,

I am delighted to once again be able to stand in this very special place in order to lend support to the important work that we are doing on behalf of the Bahamian people...

read more »


News Article

September 03, 2014
Credit union targets 1,000 additional members

The incoming CEO of a local credit union says he is hoping to attract 1,000 new members in the next year.
Mark Bastian, who is set to take the reins at Bahama Islands Resorts and Casinos Cooperative Credit Union (BIRCCCU) when its current CEO, Francis Davis, steps down, said "the future is rosy" for the credit union.
"I just started with the movement in the last two months, and I can say to you wi...

read more »


News Article

September 02, 2014
Credit Union Chief Targets 1,000 Members

BIRCCCU Launches New Debit Card & Health Insurance...

read more »


News Article

July 13, 2014
Credit union liquidation drags on as former members express frustration

A former member of the Cat Island Co-operative Credit Union Ltd. (CICCUL) has expressed frustration at continued delays in the union's liquidation, claiming that little progress has been made in nearly a year.
A former CICCUL member and advisory board member of the union's proposed Eleuthera branch told Guardian Business that he had invested over $30,000 in life savings in the union and had still ...

read more »


News Article

January 09, 2014
Concern over delay in credit union liquidation

Members of the Cat Island Co-operative Credit Union Ltd. have expressed concerns over delays in the liquidation of the union, in which up to 400 people - primarily Cat Islanders - are thought to have had around half a million dollars invested.
Nathaniel Adderley, director of the Department of Cooperative Development, which regulates credit unions, said that the liquidation is underway but admitted...

read more »


News Article

April 04, 2013
Minister Gray Proposes New Legislation for Cooperatives and Credit Unions

Nassau, The Bahamas - Cooperatives and Credit Unions could soon be subject to new legislation and the Department of Cooperative Development (DCD) will surrender its duties to the Central Bank of The Bahamas. The move will allow the Producer Service Cooperatives to grow a solid foundation from its current....

read more »


News Article

April 05, 2013
Minister Gray Proposes New Legislation for Cooperatives and Credit Unions

Nassau, The Bahamas -- Cooperatives and Credit Unions could soon be subject to new legislation and the Department of Cooperative Development (DCD) will surrender its duties to the Central Bank of The Bahamas. The move will allow the Producer Service Cooperatives to grow a solid foundation from its...

read more »


News Article

November 21, 2013
Credit unions grow by 40 percent

Credit unions have experienced "significant" growth in assets of close to 40 per cent over the past five years, even as the overall economy struggled.
Recognizing that credit unions are "very important" providers of financial services in the country, the government has requested that The Central Bank of The Bahamas assume regulatory and supervisory responsibility for cooperative credit unions.
The...

read more »