Tell a friend:
 
.... Local News

02nd September 2010
BPWCCUL buys CLICO

(Photo)

Barbados’ largest credit union is now the owner of CLICO Mortgage & Finance Corporation (CMFC).
This follows the closing of a sale-and-purchase agreement between the Barbados Public Workers’ Co-operative Credit Union Limited (BPWCCUL) and CLICO Holdings (Barbados) Limited earlier today.
President of the BPWCCUL, Terrol Inniss, says the credit union is extremely happy to have completed the purchase of CMFC after several months of negotiations and planning.

(Photo)

“We are also very excited to begin the next phase of the company’s journey, now as part of the wider credit union movement,” he said. He added, “We are looking forward to the many opportunities this development will bring for the company’s clients, for our members and for the wider Barbadian community.”
In the next few weeks CMFC will be rebranded and the new corporate identity revealed. The company will meanwhile continue to provide a wide range of financial services to both retail and institutional clients.
 
 

(Photo)

CMFC is a Bridgetown-based financial services provider with a branch office in Castries, St. Lucia. The company has assets of BDS $140 million (US $70 million) and employs 20 persons.
BPWCCUL was established on May 6th, 1970, and is presently celebrating its 40th anniversary year. It has grown to become Barbados’ largest credit union with assets of BDS $672 million and more than 55,000 members.
It has headquarters at Belmont Road, St. Michael, and branch offices at Broad Street, Bridgetown, and Six Roads, St. Philip.
BPWCCUL offers its members a wide range of financial products and services including: consumer loans; mortgages; revolving lines of credit; savings, investment and retirement products; and electronic banking services.
Membership in the credit union is open to all citizens and residents of Barbados as well as to Barbadians in the Diaspora.

Discuss Story
 
 
Top Stories  
 
 
   
Developed