What is a Credit Union?

The Clarendon Co-operative Credit Union is a parish credit union whose membership consists of person who were born, reside or work in the parish of Clarendon as well as their spouses or children who pool resources and provide financial services to each other.  Credit Unions are owned and democratically controlled by the members.

What is the purpose of your credit union?

The purpose of our Credit Union is to encourage thrift through regular savings by the members, and to provide loans for provident or productive purposes at a reasonable rate of interest. 

How is the Clarendon Co-operative Credit Union managed?

A Board of Directors elected by the members, controls the policies of the Credit Union. A  Treasurer appointed by the Directors takes care of the business details. A Credit Committee elected by the members decides on applications for loans.  A Supervisory Committee also elected by the members examine the books and records of the Credit Union to give members extra assurance that their affairs are handled properly and wisely.

The financial soundness of the Clarendon Co-operative Credit Union is safe guarded in several ways: By the Co-operative Societies Act under which it is registered; by an annual audit conducted in accordance with the requirements of the Co-operative Societies Act; by a vigilant Supervisory Committee and by a Stabilization Fund to guarantee shares.

Why Does the Credit Union Continue to Grow?

The Clarendon Co-operative Credit Union continues to grow because our basic philosophy is that we:

• Are our brothers keeper
• Do not operate mainly for profit nor charity but for service
• Should offer and get excellent service.

In Operating at our Credit Union We Beleive in: 

• Open and voluntary membership
• Democratic control (one member, one vote)
• Return on savings and deposits
• Service to members

At the Clarendon Co-operative Credit Union

we encourage you to be thrifty,

and to use your resources wisely for achieving financial success.