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First National Credit Union Co-operative Society Limited
was formerly called the Point Fortin Area Credit Union Co-operative
Society Limited. The credit union changed its name on the 25th
March 1998 at its Annual General Meeting.
The credit union was established from the amalgamation of the Shell
Staff Credit Union and the Techier Village Credit Union with a total
membership of seven hundred and fifty-seven (757) members and a
share capital of Seven Hundred and Sixty-Two. The institution
was visible from its inception as it became a major financial centre
for both the employees of Shell Trinidad Limited and the community
of Point Fortin.
The merger was easily facilitated with a substantial portion of
its membership having belonged to both founding institutions. The
consequence was an organization heavily dependent on the petroleum
sector.
However, over the period 1972 to 1993, the membership had grown
to approximately thirteen thousand (13,000) persons with a Share
ownership of up to Fifty Million Trinidad & Tobago Dollars (50,000,000) and employed twenty-two (22) persons. This has strengthened
the organizationīs ability to absorb oscillations in the petroleum
sector.
In its embryonic stage, the organization was predominantly a lending
institution. However, it has emerged as an organization still focused
on lending but has undertaken to provide investment and consultant
financial services. These areas have surfaced as the catalyst for
the future development and growth of First National Credit Union.
In 1998, the organization changed its name to First National Credit
Union, thereby allowing the acceptance of ‘nationals’ of Trinidad
And Tobago to become members of the Credit Union. In March 2000 the First National Credit Union acquired the County Council
Employees Credit Union. The Credit Union now has assets of
approximately 150 Million Dollars and Five (5) service locations
in Point Fortin, Curepe, Siparia, Rio Claro and Tobago. The
Credit Union has an experienced staff in the area of lending, and has a developing small business portfolio.
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