All Cooperatives Follow These Seven Principles
Voluntary & Open Membership
Cooperatives are voluntary organizations, open to all people able to use its services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination.
Democratic Member Control
Cooperatives are democratic organizations controlled by their members—those who buy the goods or use the services of the cooperative—who actively participate in setting policies and making decisions.
Members' Economic Participation
Cooperatives are democratic organizations controlled by their members—those who buy the goods or use the services of the cooperative — who actively participate in setting policies and making decisions.
Autonomy & Independence
Cooperatives are autonomous, self-help organizations controlled by their members. If the co-op enters into agreements with other organizations or raises capital from external sources, it is done so based on terms that ensure democratic control by the members and maintains the cooperative’s autonomy.
Cooperation Among Cooperatives
​Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional and international structures.
Concern For Community
While focusing on member needs, cooperatives work for the sustainable development of communities through policies and programs accepted by the members.
Education, Training & Information
Cooperatives provide education and training for members, elected representatives, managers and employees so they can contribute effectively to the development of their cooperative. Members also inform the general public about the nature and benefits of cooperatives.
About St. Stephen's Co-operative Credit Union Limited
St. Stephens Co-operative Credit Union Limited was registered on November 14, 1959, in accordance with the Co-operative Societies CAP 378A of the Laws of Barbados.
The Credit Union has continued under the Co-operative Societies Act, Section 241.
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The principal activities are as follows:
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The provision of means whereby savings and deposits can be effected by members and whereby shares in the Society can be purchased;
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The education of members in Co-operative principles and methods and the efficient management of the Society's affairs;
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The creation, out of the savings of members and otherwise, of a source of credit available to members on reasonable terms and conditions.
Board of Directors
Our Board of Directors, made up of skilled and experienced individuals from diverse backgrounds, plays a critical role in ensuring that our credit union operates at the highest level of integrity and efficiency. They provide strategic oversight and work closely with management to enhance our offerings and services. Our board is committed to ensuring that our members receive the best financial advice and support possible, and that we remain true to our core values.
President
Oriel Doyle
Vice-President
Sis Joy Edwards
Secretary
Sis Kempe Bruce
Treasurer
Bro Andrew Hackett
Asst. Secretary
Sis Wendy Moore
Our Projects
As a cooperative credit union, we believe in providing tangible and impactful benefits to our members and the community. Our latest completed projects, at Heritage Gardens St. Philip and Southview, are a testament to this philosophy. Explore our recent work and discover how we're making a difference.
Member Benefits
SAVINGS PRODUCTS
Members can take advantage of the following types of shares:
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Ordinary Deposits 1.5%
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Fixed Deposits 3%
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Co-operative Investment Account 3% ( Funds are deposited with the Co-operative Investment Fund with the intention of developing the co-operative sector)
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AFFORDABLE LOANS
Members have access to a range of loan products at great rates.
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Ordinary Loans
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Loanliner - A line of credit for outstanding members
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Special purpose Loans - Christmas Loans or Back to School Loans
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Housing Loans in conjunction with the Co-operative Investment Fund
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TOOLS AND RESOURCES
No matter their financial goals, members can use our expert Financial Counselling services to help them get there faster.
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HOW TO BECOME A MEMBER
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Fill out our Member Application Form Online.
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Pay an Application Fee of $20.00 and purchase 10 shares at $10.00 each for a total of BD$120.00