Credit unions show resilience in tough times – Barbados Today

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Barbadians continue to show great confidence in the local credit union movement, with more of them moving their savings and deposits to these non-bank financial institutions.This was among the disclosures at the recent annual general meeting of the Barbados Co-operative & Credit Union League Ltd. (BCCUL) at the Lloyd Erskine Sandiford Centre in Two Mile Hill, St Michael.Long-serving credit unionist Hally Haynes, who was returned as League president for the 2020/2021 financial year, told attendees that “preliminary data suggested the continued migration of deposits from the commercial banking sector to the credit union sector”, though not at the same rate as the previous year.
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