CREDIT UNION HISTORY
The credit union movement began with a simple idea - that people could achieve a better standard of living for themselves and others by pooling their savings and making loans to each others.
The birth of the Credit Union movement in Dominica was greatly influenced by the Roman Catholic Church, with Sister Alicia de Tremerie, a Belgium-born nun being recognized as the Founder.
Credit unions are owned by the membership, making it one of the unique financial institution. Credit unions put service first and add lots of caring when offering services to their members. It is about “people helping people.” giving the people a better life and improving the communities.
Like other credit unions world wide, the Grand Bay Co-operative Credit Union Limited is membership owned. It started in 1983 as a saving union under the leadership of pioneers such as James Alexander, Maurice Elizee, MariaJules, Bonti Liverpool and others. GBCCU began with 20 members and $200.00 worth of shares. It became a registered co-operative in 1986. GBCCU serves members from Grand Bay, Tete Morne, Dubique, Bagatelle, Petite Savanne and others in the vicinity.