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 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.

These, along with Prudential Standards set by the World Council of Credit Unions in accord with BASEL II, are what Credit Unions precluding the Bermuda Credit Union Co-op. Society are bound to, live by and are measured by.

September 20, 2017

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.