About Us

Prior to our current name since 1994, United Enterprise Credit Union Limited (UECUL), we were registered under two other names.  We first registered in 1976 as Purity Co-operative Credit Union Limited, which then was changed to United Enterprise Co-operative Credit Union Limited in 1988.

To date, we cater to employees from more than fourteen (14) companies which make up our membership.  Some include:

Airport Restaurant Limited, Caribbean Label Craft, Courtesy Garage, Duty Free Caribbean (Formerly Harrisons), Goddard Catering, Goddard Enterprises, Hanschell Innis Limited, Hipac Limited, McBride Caribbean Limited, Purity Bakeries Limited, Tropical Battery, Tropical Laundries, Terrific Tiles, Sagicor General Insurance (Employees of Former BF&C & BCI), West Indies Rum Distillery Limited.

The bond of membership is also open to immediate family members such as: Mother, Father, brother, sister and children, wife, husband and the resident of the environ.  This means members moving to other places of employment do not have to close their account(s) with the credit union.

In 1998, United Enterprise was struggling as a Credit Union; business was on the decline, and delinquency was high.  Many expected the Credit Union to fall by the wayside but a change in management and committees assisted in stabilizing the ship.

The Great Recession between 2007-2009 initiated a downturn in Barbados’ economy where there was negligible growth over the next 10 years whereas, in contrast, UECUL continued to progressively grow.  Team United, true to their name, moved partially from Ratio-based lending to Risk-based lending, reduced delinquency from 14% to 5% and grew membership.  From 2016 to 2019, UECUL has grown in assets by nearly 50%.  Meanwhile, we have commenced a scholarship/grant program, Inaugural Flea Market and other activities to benefit the member.

In 2018, the Government entered an IMF program and while challenging, United Enterprise Credit Union Limited will execute its Strategic Plan and continue to use a disciplined approach to its affairs and focus on process and results should be promising.