The Caribbean Confederation of Credit Unions (CCCU)was established on 17th August 1972 in Dominica, as the successor of the West Indies Confederation of Credit Societies and serves as the apex trade and development organization for financial and non-financial co operatives in the Caribbean. The CCCU is an affiliate of the World Council of Credit Unions (WOCCU) and represents the Caribbean Diaspora as part of the over 186 million members of the credit union sector.
OBJECTIVES OF THE CCCU:
In pursuit of its mission, the CCCU performs the following broad functions:
• Defending and representing the interest of the Co operative Sector;
• Providing technical and managerial assistance to strengthen and expand the Co-operative Sector;
• Promoting and facilitating technology transfers and expertise;
• Conducting promotional and educational campaigns to showcase Co-operative Sector achievements and benefits;
• Organizing educational conventions and other fora to strengthen leadership, governance and management;
• Providing directors and employees opportunities for skills training with regional and international certification;
• Mobilizing financial and technical resources for expanding the sector
CCCU STRATEGIC BUSINESS UNITS:
The CCCU is structured into two (2) primary strategic business units, namely the Trade Association and Development Foundation.
1. Trade Association: The mandate of the Association is to project the CCCU as a major regional advocate for the Co-operative Sector as a critical stakeholder in social-economic development and integration of the Caribbean. In this regard, it is responsible for research, marketing, representation, affiliate relations, policy advocacy, legislation and expanding the sector throughout the region.
2. Development Foundation: The primary responsibility of the foundation is to foster social and community development through co operative activities by formulating programmes and projects aimed at disaster relief, education, youth and rural development.
CCCU MEMBER AFFILIATES
• Antigua and Barbuda Co-operative Credit Union League Ltd
•The Bahamas Co-operative and Credit Union League ltd
•Barbados Co-operative and Credit Union League Ltd
•Belize Co-operative Credit Union League Ltd
•The BIU Co-operative Credit Union – Bermuda
•The Cayman Islands Civil Service Association Co-operative Credit Union Ltd
•Dominica Co-operative Societies Leagues Ltd
•Grenada Co-operative League Ltd
•Guyana Co-operative Credit Union League Ltd
•Jamaica Co-operative Credit Union League Ltd
•St Patrick’s Co-operative Credit Union Ltd – Montserrat.
•Federashondi Kooperativanan di Spar Kredito (FEKOSKAN) – Netherland Antilles
•St Christopher and Nevis National Co operative League Ltd
•St Lucia Co-operative League Ltd
• Co-operative Credit Union League of St Vincent and the Grenadines
•Suriname Co-operative Credit Union League Ltd
•Co-operative Credit Union League of Trinidad and Tobago Ltd
•Tortola Co-operative Credit Union Ltd
•Co-operators General Insurance Company Ltd
The Caribbean Confederation of Credit Unions (CCCU) is the Apex Body of Credit Unions and other non-credit union co-operatives in the region with 18 affiliates, extending from Belize in Central America to Guyana and Suriname in South America. At present, the CCCU has oversight responsibility for 300 Credit Unions owned by approximately 2.0 million members.
In brief, the vital statistics of the Caribbean Credit Union Movement as at 31 December 2008 are as follows:
CATEGORY USD Billion
Members Shares and Deposits 2.8
The key functions of the CCCU are the provisions of financial services to its members and affiliates, as well as Credit Unions and Leagues, Monitoring, Supervision of its members, Promotion of Prudential Standards, Consulting and Technology Assistance, Human Resource Development, Education and Training, Institutional Strengthening of Credit Unions and Leagues. Whenever practicable the CCCU seeks to partner with other organizations domestic and regional, in general, and the Credit Union Sector in particular, for the advancement of the Sector.