History

 

The Bahamas Public Services Union, under the Presidency of Mr. Arlington Miller, saw the need to assist in making life better for its members. It felt that this concept could be achieved through the establishment of a Credit Union. The Officers of the Union, in 1979, met and formed themselves into the Steering Committee to organize the establishment of The Public Workers’ Co-operative Credit Union. This Steering Committee consisted of the following: Mr. Arlington Miller, Chairman; Mr. William McDonald, Vice-Chairman; Mr. George LaFleur, Trustee; Mrs. Gertrude Rahming, Treasurer; Mr. Patrick Ingraham, Secretary; Mrs. Juliette Barnwell, Assistant Secretary; Mr. Basil Sears, Trustee and Mr. Edward Gardiner, Trustee.

The Steering Committee spent many hours with Mr. Roosevelt Finlayson, Director of Co-operatives, in formulating the bye-laws of The Credit Union.

After the bye-laws were completed, an application was made to the Department of Co-operatives for registration of The Public Workers’ Co-operative Credit Union Limited, whose bond would encompass all Government employees and employees of Government Boards and Public Corporations.

The Public Workers’ Co-operative Credit Union Limited was registered on December 28, 1979, and presented with its Registration Certificate in February 1980. At the time of its registration, forty-four persons had signed up to become members.

At its first meeting in February 1980, the following persons were elected to the Management Committee: Miss Telcena Coakley, Mrs. Juliette Barnwell, Mrs. Sylvia Treco, Mrs. Octavia Johnson, Mr. Patrick Ingraham, Mr. Harold Fernander and Mr. William McDonald. Elected to the Supervisory Committee were: Mr. Edward Gardiner, Mrs. Rosemae Thompson, and Mr. Roderick Simms.

At the end of December 30, 1980, The Public Workers’ Co-operative Credit Union had share holdings of $36,585.00.

When the first Annual General Meeting met, no dividends were paid, and the surplus, in the amount of eight hundred and forty-eight dollars and thirty-five cents ($848.35), was retained for the further development of the organization.

In 1981, the Credit Union was able to employ Mrs. Ruth Cash. She was the only employee for many years. Later other persons were employed. The Credit Union was able to invest in Treasury Bonds from the Central Bank of The Bahamas. Funds were borrowed from The Bahamas Development Bank to computerize The Credit Union.

Since its inception, the Credit Union has expanded its Bond to include spouses and children of Government employees, employees of Public Boards and Corporations; then it began to state that it was “A Family Credit Union”. Also, employees of The Credit Union and The Bahamas Public Services Union and former members of the C.C. Sweeting Secondary School Credit Union are now part of that Bond, along with the spouses, parents, and siblings of members.As of October 23, 2023, the Credit Union reached a milestone to have an Open Bond, to include any employee who meets the qualifications to become a Member.

The Public Workers’ Co-operative Credit Union Limited became a member of The Bahamas Co-operative Credit Union League, and has had two of its Directors serve on The Board of Directors, until the Apex Organization was established in 1993, where now, there is one Director nominated to participate on the League’s Board.

ORGANIZATIONAL STRUCTURE

PWCCUL’s Organizational structure controls from the top down. The sequential order from the top is as listed below:

1. Members

2. Board of Directors

3. Executive, Supervisory and Standing Committees

General Manager, Senior Managers, and other Staff Members

PWCCUL