MISSION STATEMENT
"To Promote social and economic empowerment for all Bahamians through sustainable and adequately regulated co-operative enterprises"
MandateThe Government of The Bahamas recognizing its legal obligation to ensure at all times the safety and soundness of all financial institutions operating in The Bahamas has mandated the Department of Co-operative Development with the authority to enforce the Co-operative Societies Act 1974
The ten chief components of the Department's mandate are;
- Law Enforcement
- Registration
- Arbitration
- Regulations
- Inspection and Supervision
- Audit
- Education & Training
- Research & Development
- Policy Promotion & Advice
- Resource Mobilization and Management
OVERVIEW
The Department of Co-operative Development was established in 1974 following the enactment of the Co-operative Societies Act 1974.
The Department of Co-operative Development is presently under the portfolio of the Ministry of Agriculture, Fisheries and Local Government.
COOPERATIVE ADVISORY ON THE OPERATION OF CREDIT UNIONS IN THE BAHAMAS
It has come to our attention that several financial institutions claiming to be CREDIT UNIONS are offering service ostensibly from the Bahamas to persons both locally and internationally.
The Department therefore advises the Public that all legitimate credit unions licensed to conduct business in The Bahamas are registered with the Department of Co-operative Development. Alpha Credit Union and Global Credit Union are not registered with the Department.
The Public is hereby alerted of the risk of conducting business with unregistered Credit Unions.
Following is a list of Credit Unions registered in The Bahamas under the Co-operative Societies Act, 1974;
- National Workers Co-operative Credit Union Limited
- Salem Union Baptist Church Co-operative Credit Union Limited
- Teachers & Salaried Workers Co-operative Credit Union Limited
- Public Workers Co-operative Credit Union Limited
- Grand Bahama Co-operative Credit Union Limited
- Bahamas Law Enforcement Co-operative Credit Union Limited
- Paradise Island Resorts & Casino Co-operative Credit Union Limited
- Inter-Faith Co-operative Credit Union Limited
- Bahamas Taxi-Cab & Transportation Workers Co-operative Credit Union Limited
- Bethel Baptist Church Co-operative Credit Union Limited
- Bahamas Utilities Workers Co-operative Credit Union Limited
- Prince Hall Family Co-operative Credit Union Limited
- Cat Island Co-operative Credit Union Limited,
- Berry Island Co-operative Credit Union Limited
- Harbour Island Co-operative Credit Union Limited
- All Andros Co-operative Credit Union Limited
- Bahamas Co-operative League Limited
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