About Us
An open bond, community-wide credit union and your financial partner for life.
- Founded
- 1957
- Members
- 5,600+
- To join
- 20 shares
A credit union is much more than a typical bank.
Business decisions at the St. Patrick’s Co-operative Credit Union Ltd are driven by what is in the best interest of the membership. As a credit union founded to help underserved individuals, we continue to believe that access to attractive financial services for persons of all income brackets is an integral part of our mission. Membership is open to anyone with the purchase of twenty (20) permanent shares, for $5.
Members are able to enjoy these additional services:
- Faster and simpler loan processing
- Loan financing for older vehicles
- Shared deposit and withdrawal arrangements with sister OECS credit unions
- Low-cost family indemnity plan
- Special saving product for youths and students
Owned by members, not shareholders
When you join, you become an owner and you can buy additional shares on any business day. Together, you and your fellow members pool your deposits to offer loans and other financial services to each other.
| Aspect | St. Patrick’s Credit Union | A typical bank |
|---|---|---|
| Who owns it | Its members. Every member is a shareholder and owner. | Its shareholders. |
| Purpose | Not-for-profit financial co-operative, funded largely by voluntary member deposits. | Run for profit. |
| Where the profit goes | Returned to members as better deposit rates and additional services such as longer hours and help with overseas money transfers. | Paid to stockholders. |
| Who chooses the Board | The members elect the Board of Directors: one member, one vote. | Customers are not normally invited to vote on the Board. |
Why join the credit union instead of a bank?
Over 5,000 persons have chosen to be members for very good reasons: competitive rates on loans and savings accounts; personalized service; safety and security; and the dignified feeling of owning your financial institution and being a part of a family, not just a number.
- Long opening hours
- 8 am – 3 pm
- Low interest rates
- Lowest on island
- Special Christmas savings
- Dec – Nov
Monday to Friday, except Wednesday 8 am – 2 pm
The SPCCU offers the lowest interest rate on island.
A one-of-a-kind Christmas Club savings plan every year.
The Credit Union Symbol
The Hands and Globe became the official World Council of Credit Unions trademark in 1966, and today it is the recognized credit union symbol in more than 70 countries around the world. Select each part to read what it means.
1 of 3
The Globe
The Globe symbolizes the international network of credit unions and suggests the impact that unity can have on the financial development of all countries.
2 of 3
The Four Silhouettes
The people within the globe represent the family of mankind working for mutual benefit of all. The real focus of the credit union movement is the human element and the harmony of people working for people. This distinguishes credit unions from other financial institutions.
3 of 3
The Hands
The Hands signify the self-help nature of credit unions and the financial security and support offered by the international credit union network. They also exemplify the fact that the Movement’s success rests in the hands of its members.
The Credit Union Prayer
Prayer of St Francis of Assisi
Lord, make me an instrument of thy peace.
Where there is hatred, let me sow love;
Where there is injury, pardon;
Where there is doubt, faith;
Where there is despair, hope;
Where there is darkness, light;
And where there is sadness, joy.O divine Master, grant that I may not so much seek
To be consoled as to console,
To be understood as to understand,
To be loved as to love;
For it is in giving that we receive;
It is in pardoning that we are pardoned;
And it is in dying that we are born to eternal life.
Amen.