History of SFCCU Credit Union Co-operative Society Limited
SFCCU Credit Union Co-operative Society Limited was formed by Father William Boer on June 19th 1948 with twenty-one (21) parishioners and first opened at the Catholic Church of Our Lady of Perpetual Help, Harris Promenade, San Fernando. This was known as the St. Joseph Catholic Credit Union Society Limited, Registration No. 54. At that time, the Credit Union’s assets were $68.57 which was deposited in a Post Office Bank. In May 1950, Father Marcus Maingot had replaced Father Boer and that same year, the Credit Union held its first Annual General Meeting (AGM). Later in 1952, Boer returned and offered an office space of ten (10) square feet at the Presbytery, furnished with a table, chair and benches. On Friday evenings, members would transact business at the office whereby the then Treasurer, Jocelyn Brown, assisted by Iris Bunting, visited members’ homes to make collections.
In 1974, the AGM approved the bond to accommodate the membership of all other religions and so in 1977, the name of the Credit Union was changed to San Fernando Community Credit Union Co-operative Society Limited. With its membership growth of approximately 1,000 and the volume of work in 1976, the Credit Union hired three full-time employees and occupied office space at Community Hall, Harris Promenade, San Fernando. Another Milestone was reached in 1979 when the first TT$1M in share capital was reached. In 1981 it had passed TT$2M and in 1982, TT$4M. Today, the share capital is in excess of TT$80M. During 1980 the 1st full-time Manager was employed and the Credit Union’s operations were computerized in 1982. The Credit Union acquired its own building in 1987 at #16 Irving Street, San Fernando. In 1988, our Credit Union celebrated its 50th anniversary with a membership of 10,050 and a share capital of $20,561,396.74.
In 2002, San Fernando Community Credit Union changed its name again to serve the entire population and therefore became SFCCU Credit Union Co-operative Society. In April 2014 SFCCU opened its second Branch Office located in Point Fortin. By December 31st 2015, for the first time in history we earned total revenues of $10.1M, Asset base of $111M and total members reached 11,000 members. ALL FIRSTS.
On 18th January, 2018, SFCCU Credit Union Co-operative Society Limited launched the opening of its Siparia Branch Office.