Search results for : Credit Unions
Concern over delay in credit union liquidation
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...
Credit unions grow by 40 percent
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...
Credit union's Abaco plaza over 90 percent leased
September 16, 2013
Credit union's Abaco plaza over 90 percent leased
A $14.8 million Abaco shopping complex which is expected to provide as much as $100,000 a month in revenue to its developers - a credit union - is now over 90 percent leased, in expectation of an early 2014 opening...
Credit union sees 'enormous growth'
July 24, 2013
Credit union sees 'enormous growth'
More aggressive marketing and a tightening of credit by commercial banks has driven a surge in membership and profitability at one of the country's largest credit unions, according to its chairman.
Alfred Poitier, chairman of the National Workers Co-Operative Credit Union Ltd. (NWCCU), said the credit union has seen "enormous growth" in membership to around 8,500 members and has doubled its pro...
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....
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...
Board of Directors of the Caribbean Confederation of Credit Unions call on Governor-General
December 10, 2012
Board of Directors of the Caribbean Confederation of Credit Unions call on Governor-General
Nassau, Bahamas - Governor-General Sir Arthur Foulkes (seated centre)
recently welcomed the Board of Directors of the Caribbean Confederation of
Credit Unions for a courtesy call at Government House...
CREDIT UNION MEMBER GROWTH EXPANDS 29
December 12, 2011
CREDIT UNION MEMBER GROWTH EXPANDS 29
By NEIL HARTNELL
Tribune Business Editor
BAHAMIAN credit unions have outpaced commercial banks through an average total asset growth rate of 9.25 per cent over the past five years, the Central Bank's governor said yesterday, their collective membership having increased by 29 per cent over the same period to now account for one-fifth of this nation's workforce.
Wendy Craigg told Tribune Business...
Credit Union Clarification
November 15, 2011
Credit Union Clarification
In yesterday's Tribune Business, it was reported that Bahamian credit unions had been deterred from making microfinance loans due to delinquency rates that hit 50 per cent.
50 Deliquencies Deter Credit Unions on Microfinance
November 14, 2011
50 Deliquencies Deter Credit Unions on Microfinance
BAHAMIAN credit unions "must look at" getting back into microfinance lending, a leading executive said yesterday, having recoiled from the sector due to high loan delinquencies that at one point exceeded 50 per cent of the portfolio.
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