Welcome! You have just entered the 1st Bermuda Credit Union website and we want YOU to
benefit from the second-to-none services we provide. If you are not already a member, but
qualify for a membership, we encourage you to learn more about the Credit Union and its
valuable products and services. This site is an informative tool to help provide our members,
and interested members, with updates and extensive product offerings. It is our primary objective
to go ‘above and beyond’ for our members because our mantra is ‘We do take Care’!

The formerly known BIU Members Credit Union Co-op. Society changed to the Bermuda Credit Union Co-op. Society since September 2017  was formed in 1972 through the instrumentality
of the leaders of the Bermuda Industrial Union (BIU). The Credit Union is affiliated with
the World Council of Credit Unions, which has a history dating back to the early 19th Century.
Within the Caribbean, there are 386 Credit Unions across 19 territories with assets in aggregate of US$7B. The Bermuda Credit Union Co-op. Society is the sole Credit Union in Bermuda, with an asset size of $15M and serves the financial needs of over 4,200 conscientious, ambitious
and proud members. Everyone involved is proud to be associated with the only indigenous
financial co-operative on this island. Credit Unions today, though autonomous, operate
under the fundamental tenets crafted by England’s Rochdale Pioneer Co-operators, namely

  • Open Membership – nondiscrimination irrespective of colour, religion, class or creed;
  • Democratic Control – one man, one vote, irrespective of share ownership;
  • Continuous Education;
  • Not for Profit, Not for Charity, but for service-surpluses that are spread equitably
    across the membership and not to an elite class of shareholders;
  • Patronage Refund – where supernormal surpluses are made in any financial year,
    refunds for interest paid on loans may be made; and
  • Co-Operation among Co-Operatives.

 



I have always experienced nothing less than the highest level of professionalism when being served at the Credit Union. I have been a member since 2015 and apart from the excellent financial savings benefits, I have to highlight the excellent service that the staff consistently delivers.  The service delivery has lived up to the orientation meeting that was held with my staff and me.

Margaret Giloth September 20, 2017