Frequently Asked Questions
When was the LPECCU formed?
The Light & Power Employees Co-operative Credit Union Ltd was registered as a Co-operative on 11 January 1984, with approximately forty (40) employees of the Barbados Light & Power Co. Ltd.
Although the Credit Union was founded to cater to the needs of the Barbados Light & Power Co Ltd staff and their families, we have now expanded our common bond to include business within a five-mile radius of the Credit Union’s Bush Hill location.
How do I become a member of LPECCU?
You need two forms of valid photo I.D.(Driver’s License, Passport, Government issued identification card), a Tax Payer Registration Number (TRN), a completed Reference Form, a Proof of Residence ( with either two (2) most recent Utility Bills, two (2) most recent Rent Receipts or Address verification on reference form) and a Minimum Required to Start Permanent Qualifying Shares (Compulsory): Value of $100.00.
What do I need to apply for a loan?
To establish that you can repay each loan you apply for, we will analyse your application and conduct a loan interview if deemed necessary. We require information about your income and expenses. You must submit a job letter and supporting salary slip. We may also ask for additional information and documentation to support your application. You need your character (your savings and loan history), you need to be over 18, you must be able to afford the loan.