PECU is a leading financial institution in the credit / lending industry in Trinidad and Tobago. PECU was founded in 1973 by a group of workers led by John Morales from the defunct Port Contractors Association who encouraged their fellow workers to be part of this co-operative union venture.
To be lifetime partner, dedicated to improving our members' financial and social welfare
From our offices, we aim to provide a range of financial services for the economic and social welfare of members within a co-operative framework.
Many port employees found themselves indebted to money lenders who were operating in the industry. Some of them found it quite difficult to repay their loans because of exorbitant interest rates being charged.
With the advent of the Credit Union, members were encouraged to manage their finances by saving regularly and to borrow from the Credit Union at “softer” rates of interest when they needed loans.
In 1970, the Port Contractors were given the contract to manage and operate the cargo handling operations on the Port. This gave birth to our first name, Port Contractors Credit Union Co-op. With the demise of the Port Contractors, the name was changed to Port Employee Credit Union Society Limited, which allowed us to embrace all port workers. It was decided to adopt the acronym PECU in 2003 in a marketing strategy to re-brand the organization ant to attract a wider spread in its membership.
Our Credit Union's executive comprises an unparalleled talented team of elected officers, committees and staff. Our board of Directors is provided below.
The committee consists of five members elected by the members at each Annual General Meeting.
The committee has the general supervision of all applications for loans.
The committee consists of three members elected by the members at each Annual General Meeting.
The committee examines or audit the financial and operational areas of the credit union.
The Board of Directors appoints this committee of not less than five persons.
The committee shall be in charge of the publicity and education of the society.
The committee consists of four members elected by the members at each Annual General Meeting.
This committee is responsible for coordinating of all tobago activities.