East Bay St.
P.O. Box N-3208
Nassau, N.P., The Bahamas
|Phone:||(242) - 323-6601 or 5/ 356-3152/ 325-7503 /325-7509|
- Nathaniel Adderley, Director of Cooperatives Development
"To Promote Ownership of competitive and adequately supervise Cooperative Enterprises by insuring adherence to Law, International Standards and Best Practices."
The 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 2005
The ten chief components of the Department's mandate are;
1. Cooperative Law Enforcement
2. Registration of Cooperative Societies
4. Inspection and Supervision of Cooperative Societies
6. Education & Training
7. Research & Development
8. Policy Promotion & Advice
9. Resource Mobilization and Management
10. Liquidation of Cooperative Societies
The Department of Co-operative Development was established in 1975 following the enactment of the Co-operative Societies Act 1974, which was repealed and replaced by the Cooperative Societies Act, 2005.
The Department of Co-operative Development is presently under the portfolio of the Ministry of Agriculture and Marine Resources.
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 registered to conduct business in The Bahamas are registered with the Department of Cooperative 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, 2005;
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
Bahama Islands Resorts & Casino Co-operative Credit Union Limited
Inter-Faith Co-operative Credit Union Limited
Transportation and Service Industry Co-operative Credit Union Limited
Bethel Baptist Church Co-operative Credit Union Limited - (In liquidation)
Prince Hall Family Co-operative Credit Union Limited - (In Liquidation)
Cat Island Co-operative Credit Union Limited,
Berry Island Co-operative Credit Union Limited - (In Liquidation)
Harbour Island Co-operative Credit Union Limited - (In Liquidation)
Bahamas Co-operative League Limited
Saint Anne's School Cooperative Society Limited
Doris Johnson Multipurpose School Cooperative Society Limited
Queens College Cooperative Society Limited
C.V Bethel Senior High School