A credit union is a financial cooperative organized within a specific group of people united by a common bond of interest. As a member of our Credit Union, you are therefore a part owner. Credit unions exist to provide financial products and services for the equal benefit of their members, rather than to produce profits for shareholders. As a member of a credit union, you have a right to attend member meetings and comment and/or vote on matters concerning the constitution, management performance and financial reports of the credit union and you are paid the dividends.
FAQs
The Trintoc (Penal) Credit union operates through a Committee of Management (Board of Directors) of nine (9) persons. A Credit Committee of five persons and a Supervisory Committee of three persons, chosen from the Annual General Meeting in which each member has one vote. An Education Committee consisting of five persons is appointed by the Board of Directors. Our day to day operating is managed by a group of highly qualified Staff members.
90A Clarke Road, Penal 90A Clarke Road, Penal 710424
See Google map Link https://goo.gl/maps/wf4SwB1JuTnDJhVu5
Our Credit Union was established in 1954 and has been serving our Membership for over six decades. We have a wealth of experience and knowledge in providing financial advice and a proven track record in ensuring the modest earner achieves financial independence.
- All persons of good character who are employees and pensioners of the Petroleum Company of Trinidad and Tobago Limited, its predecessor companies, successors, subsidiaries, and associated companies.
- Permanent and contract employees and pensioners of the Society.
- The spouses, children, siblings, and parents of members of the Society. However, no member who is under the age of fourteen (14) shall be competent to execute any instrument or acquittance himself but may do so by his parent or guardian.
- Other registered Co-operative Societies in Trinidad and Tobago.
- Notwithstanding Bye-Law 4 (c), persons who were granted membership in the Society and no longer qualify for membership in accordance with Bye-Law 4 (a) may continue to be members at the discretion of the Board.
- Live and or work within a five (5) mile radius of the registered Head Office.
Our membership forms are available on our website, Facebook page www.facebook.com/MYTPCU or you can visit our office and request a Membership form.
A share account is similar to a savings account; all members of the Trintoc (Penal) Credit Union are shareholders or part owners. The funds put into their savings account are actually shares; each share has a monetary value of $5.00, which signify ownership. All members are considered business owners.
A Deposit Savings Account is an account where your savings do not generate interest. The money in this account is accessible for easy withdrawal and deposits without interest. A Share Account is an account where the money saved will generate dividends or interest over a period.
There is NO service fee on Share account.
Term/Fixed Deposits is where the member agrees to place a fixed amount of money for a specific period of time to receive an interest rate for the duration of that time period. Trintoc (Penal) Credit Union interest rates will vary based on amount. Deposits are repayable on demand however penalties would be applied.
Yes, you can check your balances online. Simply visit the Credit Union office to register for Trintoc (Penal) Credit Union online services.