What makes us different
Shareholders are owners, members and customers of the Credit Union and share in the surplus or profits generated from its operations, in the following ways: a higher rate of dividend on shares; higher rates interest on deposits; improved and expanded services; lower rates of interest on loans; and low or no fees for services provided. Savings and loans are automatically insured by the Credit Union (up to a set limit) at no cost to the members.
Shareholders are owners, members and customers of the Credit Union and share in the surplus or profits generated from its operations, in the following ways: a higher rate of dividend on shares; higher rates interest on deposits; improved and expanded services; lower rates of interest on loans; and low or no fees for services provided. Savings and loans are automatically insured by the Credit Union (up to a set limit) at no cost to the members. Members participate in the Credit Union’s Administration by serving in a voluntary capacity on the Board of Directors and other Management Committees. The Credit Union contributes to human and social development by its proactive and intimate involvement in the educational, social, cultural and religious activities of the community it serves.
How We Are Regulated
The NCCU is regulated and supervised jointly by the Department of Co-operatives (DOC) and the Financial Services Regulation and Supervision Department in St. Kitts and Nevis, the authorised Government Agencies. We are governed by the Co-operative Societies Act, 1995 and the Co-operative Societies Regulations, 1997 of the Federation of St. Christopher (St. Kitts) and Nevis; and the By-Laws and Policies of the NCCU. The DOC collaborates with the Eastern Caribbean Central Bank (ECCB), the Caribbean Confederation of Credit Unions (CCCU) and the St. Kitts and Nevis Financial Services Regulatory Department on regulatory, monitoring and compliance issues.
The Department of Co-operatives functions is to ensure that:
- Credit Unions satisfy the requirements of the Co-operative Societies Act and Regulations, and operate in accordance with their By-Laws and Policies.
- Credit Unions operate by sound financial procedures and controls to protect the deposits of their members and investors.
- Credit Unions maintain high asset-quality and establish adequate reserves.
- Credit Unions take prompt action to correct any deficiency which may result from their operations.
The Financial Services Regulation and Supervision Department functions to ensure that:
- Credit Unions comply with Anti-Money Laundering and Anti-Terrorism Legislations.
Customer Service
Please feel welcome to contact our friendly staff with any enquiry call us.