Important Weather Announcement
We wish to advise our members that the credit union will be closed on Monday July 1st, due to Hurricane Beryl. We will advise on the reopening of the credit union after the all clear has been given and the assessment of the office has been completed.
Please monitor our social media pages such as Facebook, Instagram and our Website at www.lpecu.bb for updates.
We apologize for any inconvenience caused. Please stay safe during the passing of this hurricane.
Light and Power Employees Co-operative Credit Union Ltd- Committed to Total Member Satisfaction
Protect Your Account Now - Update Your K.Y.C.
Keep Your Account Active: Update Your KYC Today
At The Light & Power Employees Co-operative Credit Union Ltd., your security and financial well-being are our top priorities. To continue providing you with safe, reliable, and convenient services, we are required to update our members’ (KYC) information.
KYC (Know Your Customer) is the process of verifying your identity, address, and source of income to keep your account secure and compliant with financial regulations.
Updating your KYC is quick, easy, and mandatory—and it ensures that you can continue to enjoy all the benefits of your Credit Union membership without interruption.
Why KYC Updates Are Required?
KYC is a legal and regulatory requirement for all banks and credit unions in Barbados, as well as across the globe. Regulators require financial institutions to maintain accurate member information in order to:
- Protect members against identity theft and fraud
- Prevent financial crimes such as money laundering and terrorist financing
- Ensure transparency in financial transactions
- Keep your membership active and compliant
This means all financial institutions island-wide are required to update their members’ records—not just LPECCUL.
What Documents Do I Need?
To complete your update, you’ll need three key documents:
- Valid Photo ID – Passport, Driver’s Licence, or National ID
- Proof of Address – Utility bill, bank statement, or official correspondence (not older than 3 months)
- Proof of Income/Source of Funds – Recent payslip, job letter, or supporting financial document
What Happens If I Don’t Update?
- It’s very important to keep your account up to date. If KYC updates are not completed:
- Your account may be restricted (limited access to services).
- In some cases, accounts can be locked or even closed to comply with regulations.
- You may experience delays when accessing loans, making withdrawals, or conducting other transactions.
Local & International Compliance
KYC requirements are not unique to LPECCUL—they are part of local laws in Barbados and international standards set by global financial regulators. By keeping your KYC current, you help strengthen our Credit Union’s compliance, protect your financial security, and ensure smooth transactions at home and abroad.
Take Action Today!
Don’t wait until your account is affected.
Update your KYC today—online or in-branch—and continue to enjoy all the benefits of your Credit Union membership.
Call us at (246) 431-1400
WhatsApp us at (246) 262-7993
Or start your update by downloading the KYC update form right here