Communal Co-operative Credit Union

The Communal Co-operative Credit Union Limited as it is now known was founded in 1964 and registered as a financial co-operative in 1965 with assets to the value of five hundred dollars ($500.00) and a membership of 100. The first registered name was St. Georges Communal Co-operative Credit Union Limited. However, its bond only allowed for persons working and or living in St. Georges to become members. Some of the founding members were Rodney V. Mauricette, Eric Padmore, Albert La.Touche, Cynthia Steele, Martin Abraham, Kathleen A .Nedd and Joslyn (Sparrow) Hayling; most now deceased. At the first annual general meeting Messrs Mauricette, Padmore and Mrs. Steele were elected to the Board of Directors. Mr. Rodney V. Mauricette was elected President of The Communal at the first Board of Directors meeting, a position he held until 1993, when he retired and was succeeded by Dr Guido Marcelle. Mr. Edwin Thomas was elected President in 1996. He was succeeded by Mr. L. Simeon Collins whose term ended in 2002 when the first woman to sit at the helm of any Credit Union in Grenada, was elected President. Miss Lydia Courtney-Francis became the first woman to sit as President of The Communal Co-operative Credit Union Ltd. The St. Georges Communal Co-operative Credit Union aimed to provide and avenue to receive its member's savings and make loans to them for provident and productive purposes at reasonable rates of interest. At the 14th Annual General Meeting held in December 1994 the membership approved the name change to The Communal Co-operative Credit Union Limited and it was resolved that the bond be expanded to include all persons in Grenada, Carriacou and Petite Martinique. Since its registration, The Communal had seven (7) Presidents from Mr. Rodney Mauricette (the first) to Mr. Isaac Bhagwan (the incumbent). The Board of Directors consists of nine (9) members, which includes five designated positions – President, Vice-President, Treasurer, Secretary, Asst. Secretary/Treasurer. The head office of The Communal which was built in 2000 is located at 414 H.A. Blaize Street, St. Georges.