History

Celebrating our past

In the minds of men like Harcourt “Joey” Hinds, Errol Mohammed, Michael Marcano, Emmanuel “Saint” St. Martin, Calarence Bunsee, Eugene Lopez, Harold Akong, Arthur Howe, Bertie Talma, Ken, Lewis, George “Pablo” Taylor, and Courtney Mayers grew an idea for an Employees Credit Union – a Co-operative that would assist employees of TEXTEL in managing their finances carefully and constructively and at the same time unite the “TEXTEL Family”.  This idea and determination to bring it to fruition gave birth to TEXTEL Employees Co- Operative Society Limited on May 31 1973 when it was registered formally in accordance with Section 17 of the Co-operative Society Act of 1971.

An inaugural General Meeting was held on the same day at 11 Edward Street, Port-of- Spain when officers were elected to serve on the board as well as various committees

Board of Directors
  • Harcourt Hinds
  • Ken Lewis
  • Eugene Lopez
  • Errol Mohammed
  • Michael Marcano
  • Emmanuel St. Martin
  • Merlyn Mc Lean
  • Arthur Howe
  • Claudette Ramcharan
  • Edgar Williams,
  • Paulette Marshall and Joseph Caterson
Credit Committee
  • Ken Lewis
  • Eugene Lopez
  • Emmanuel St. Martin
  • Errol Mohammed
  • Harcourt Hinds
Supervisory Committee
  • Keith De Freitas
  • Hollis Bertrand
  • Carlton Singh

At that time there was no office to house the Society and business was conducted at Mr. Ken Lewis’s work place in the Workshop also located at 1 Edward Street Port of Spain. As a consequence Mr. Emmanuel St. Martin approached the General Manager, Mr. D.C. Buck for assistance to obtain office space. This request was granted and an office on the 7th Floor of the TEXTEL Building was made available to the society.

The 1st Annual General Meeting of the Society was held on Monday December 09 1974. The assets of the credit union stood as $ 31,074.83. Growth of the credit union was consistent over the years. An original membership of 40 at May 31 1973 increased to 150 by December 31 1973. In 1976 membership stood at 200 growing to 386 in 1982 and 501 in 1988. Correspondingly, Share Capital grew from $20,650.12 in 1973 to $8,456,984 in 1991.

TEXTEL’S support, especially in those formative years, was critical to the Credit Union’s Growth, provision of office space on the 7th Floor of TEXTEL Building and assistance with wages allowed the Credit Union to gain strength while “learning to walk” as it were. In 1991 TEXTEL was divested into TELCO and a merger of the two entities occurred. The Credit Union continued to occupy the office on the 7th Floor after the merger and until 1997 when it was relocated to the Mariner’s Building. On march 15 1993 the name TEXTEL Employees Credit Union Co-Operative Society Limited was officially changed to TEXTEL Credit Union Co-Operative Society Limited in keeping with the revised Bye Laws where in the Bond was changed to open membership to spouse and children of members and also to reflect the changes to the common Bond

Another milestone was achieved in 2004 when in March of that year the society moved into its own building at 85 Henry Street, Port of Spain.

In Looking back and in Celebrating Our Past, we acknowledge with gratitude TEXTEL’S contributions and the support of all members past and present of TEXTEL Credit Union and thank specially those who have served on various communities throughout the years. As we grow and change, let us consider Investing in Our Future so that our organization will continue to meet our needs will beyond the 21st century by continuing to provide our members with quality, financial services and to involve as many of our members, particularly our youth, in the process.


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