Some of the smaller credit unions in Barbados are weighing the advantages of merging with others, with at least one merger having taken place in 2023.
This is according to the Barbados Co-operative and Credit Union League Limited (BCCULL), which has also revealed that even more Barbadians are now joining the island’s credit unions.
In fact, in his New Year’s message, the president of the BCCULL, Kemar Cumberbatch says that number is nearing the 250,000 mark.
The League’s president noted that with this level of reach and impact across Barbados, the organisation is committed to ensuring the savings of members are protected through deposit insurance coverage.
He adds the final steps to bring it into force will come early in the new year.
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