THE Barbados Teachers’ Cooperative Credit Union has so much cash on its hands that it is on a mission to attract “quality” prospective borrowers.
The credit union, which has assets of $76.7 million, has a loan limit of $450 000 for individual mortgagors, with twice this amount for a couple with loans for up to a maximum of 70 years.
C. Walter Harper, the outgoing president of the credit union, described high liquidity as its biggest challenge, pointing out that its members already had property and vehicles and were not borrowing as they did in the past.
“So we are on a membership drive the coming year; bring 12 new quality members and win a tablet,”?he said. “Plus we’ve restarted our youth savers programme.”
