Nevis Co-operative Credit Union Limited Information

The Nevis Co-operative Credit Union Limited (NCCU) continues to be a pillar of the financial co-operative sector in St. Kitts and Nevis, forty seven (47) years after its humble beginning. Its service to the ‘ordinary citizens’ of the country has undoubtedly helped to build a better Nevis and a better Federation. The Nevis Co-operative Credit Union Limited, formerly the Charlestown Co-operative Credit Union, was registered on July 25, 1972. During the difficult years of the 1970s, business was very slow and the co-operatives idea did not flourish. At December 31, 1972, membership was 40; assets totaled $4,100; savings or (shares) totaled $3,900; loans totaled $2,000; and reserves totaled $139. Forty four years later, at December 31, 2016, membership was 7,259; assets totaled $117,177,767; shares and savings totaled $109,479,081; loans totaled $87,504,100; and reserves totaled $6,996,724. The NCCU has been an exemplary corporate citizen for its annual sponsorships and donations to numerous social programmes of public sector institutions and community-based organizations, including the SJCIC Annual Primary School Quiz Competition. Additionally, there is a scholarship programme to the Charlestown Secondary School and Gingerland Secondary School; and subsequently on to the Nevis Sixth Form College and/or CFB College which provide financial assistance to deserving students. Fifty (50) students have benefited from the programme since its inception in 1986. Since 2000, the NCCU has provided financial, technical and administrative support for the Junior Co-operatives or School Savings Co-operative Societies in the Charlestown and Gingerland Secondary Schools; and in 2008, expanded the programme to include the seven (7) ‘public’ and three (3) ‘private’ primary schools on the island. The Nevis Co-operative Credit Union Limited is committed to its Vision and Mission Statements.