Why Should I join this Credit Union? What would it offer me?
More offers, new interest rates, training, partnership and prosperity!
Loans Interest Rates, Interest on Savings and Fixed Deposits
Our interest rates on lending range from 4.75 – 18% per annum. As of February 2022, savings and regular deposits are set at 0.5% and 0.75% respectively per annum. Fixed Deposits are also staggered over a three (3) year spread and range from 1.85% to 2.30% in interest.
Training
You can benefit from training through the credit union and the Barbados Co-operative Credit Union League Limited. It is mandated that all Credit Unions pay a minimum of 1-3% of their surplus annually to the Education fund, therefore no member has to pay for training through the BCCULL.
Mutual Benefits Plan (MBP)
Member loans are covered by the MBP. This coverage is under Co-operators General Insurance. Should a member die, the MBP claim is submitted to take care of the loan. If you are injured and off the job for three months, the MBP allows members to claim three months loan payment to cover the loan while on sick leave.