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
Membership
HOW TO BECOME A MEMBER
At Light & Power Employees Co-operative Credit Union Limited, membership is voluntary and open to all persons living in Barbados. At LPECCUL, becoming a member means more than just opening an account—it’s joining a community that puts you first. We’re dedicated to offering personalized service tailored to your unique financial goals, all while staying connected to the values that bind our community together.
When you become a member of LPECCUL, you gain access to a range of financial products and services designed with your needs in mind. Whether you’re saving for the future, planning for a big purchase, or looking for sound financial advice, we’re here to support you every step of the way.
How To Become A Member
Here is what’s required to open an account:
1. A Minimum Required to Start:
- Permanent Qualifying Shares (Compulsory): Value of $100.00
2. Two (2) forms of valid photo I.D.
- Driver’s License
- Passport
- Government issued identification card
3. Proof of funds
- Employees – Employer’s Job Letter (Recent)
- Employees – Current Payslip (Recent)
- Self-Employed Persons – Bank statement (3 recent months)
- Retired Persons – Statement or Letter from NIS or Pension provider
4. One (1) valid proof of address
The credit union must verify your address in accordance with Know-Your-Customer Guidelines (KYC). Please submit original documents from a relevant source, which must have been issued within 3 months of submission:
• Utility bill, tax bill from the Barbados Revenue Authority.
• A statement from another financial institution (e.g. bank, credit union, insurance provider).
• A hire purchase statement from a recognised establishment (e.g. Massy, Cave Shepherd, Courts).
• A letter from the landlord along with a recent rent receipt & the utility bill for the residence.
• A notarised letter from parent(s) (if living with parents – parent’s address confirmation will also be required).
Benefits of Becoming A Member
- Whenever you die your beneficiaries get all your savings, plus more.
- The Light & Power Employees Co-operative Credit Union Ltd offers
a wide range of services (savings, loans & insurance) at competitive rates. - You will join a Credit Union that is stable and secure and has well over 40 years’ experience in the financial arena.
STEP 1
Complete you Membership Application by downloading it here:
STEP 2
Upload Membership Application Form & Other Documents here:
For Joint Membership applications please use this form DOWNLOAD HERE
IF YOU ENCOUNTER ANY ISSUES UPLOADING YOUR DOCUMENTS
YOU MAY EMAIL THEM TO “MEMBERSERVICES@LPECU.BB”
Benefits of Membership
- You become a part owner of a financial institution. You can access credit in the form or loans at low rates.
- When you borrow from the Credit Union, your savings remain intact so that while you pay your loans your savings can continue to grow. This helps to maintain wealth.
- You have the convenience of payroll deductions.
- Unlike other financial institutions the Credit Union shares a percentage of its yearly profits with its members.
- Your savings are entitled to Life Savings Benefits up to a maximum of $25,000 so that in the event of your death, your beneficiaries will receive your savings as well as other benefits. If death is the result of an accident this benefit will double. There is also an additional funeral benefit of $3,000 based on your savings
- Your family/beneficiary is protected against hardship in the event of death, through the Loan Protection Benefits. Generally the loan of a deceased member is automatically written off up to the maximum started. There are certain conditions however, which can impact the settlement amount.
- In the event of temporary disability e.g. sprain or broken limbs, the loan is repaid for you for three months up to a maximum of $3,000.00. See more
Benefits of Membership
- You become a part owner of a financial institution. You can access credit in the form or loans at low rates.
- When you borrow from the Credit Union, your savings remain intact so that while you pay your loans your savings can continue to grow. This helps to maintain wealth.
- You have the convenience of payroll deductions.
- Unlike other financial institutions the Credit Union shares a percentage of its yearly profits with its members.
- Your savings are entitled to Life Savings Benefits up to a maximum of $25,000 so that in the event of your death, your beneficiaries will receive your savings as well as other benefits. If death is the result of an accident this benefit will double. There is also an additional funeral benefit of $3,000 based on your savings
- Your family/beneficiary is protected against hardship in the event of death, through the Loan Protection Benefits. Generally the loan of a deceased member is automatically written off up to the maximum started. There are certain conditions however, which can impact the settlement amount.
- In the event of temporary disability e.g. sprain or broken limbs, the loan is repaid for you for three months up to a maximum of $3,000.00. See more
QUICKSTART LITE LOANS
A Smart Start Toward Financial Freedom
Everyone needs a little help to get ahead—whether it’s covering an unexpected expense, investing in personal growth, or seizing a new opportunity. QuickStart Lite Loans is an exclusive offer for new members to our credit union. This offer provides an easy, accessible way to secure extra funds without the stress.
Empowering Financial Independence
At LPECCUL, we believe in empowering financial independence. This loan is designed for employees and professionals who need a quick, manageable financing solution. What are you waiting for… Join Now to get started!
✔ Borrow up to $2,000
✔ Low weekly payments—just *$41 per week!
✔ Flexible 12-month repayment plan. No penalties for paying off early
✔ Loan Disbursement – 5-7 business days for approved members
✔ No complicated paperwork—just a fast, digital application!
QuickStart Lite Loans offer a fast and affordable way for new members to access up to $2,000 with manageable repayments. As a credit union member, you get the opportunity to build a solid credit history while taking a smart step toward financial independence.