About Us
TATECO (San Fernando) Credit Union Co-operative Society Limited —
70+ years of financial empowerment, community service, and member prosperity.
Mission Statement
TATECO (San Fernando) Credit Union Co-operative Society Limited is a financial co-operative dedicated to promoting sound Financial Management through the provision of Education, Social and Economic services and for the preservation of Co-operative Principles.
Vision Statement
To be a strong, viable, dynamic and member-oriented organization, partnering with our stakeholders; to be the leading credit union of choice in Trinidad and Tobago.
Our History
TATECO (San Fernando) Credit Union Co-operative Society Limited, originally known as TATECO (Penal) Credit Union, was created out of necessity during a time when employees of the Trinidad and Tobago Electricity Commission (T&TEC) faced significant social and financial challenges. Over the past 70 years, it has grown into a unique and well-managed institution, establishing a strong asset base and cultivating a highly engaged and satisfied membership.
In 1952, an Englishman by the name of Mr. Kenneth Finch, who was the General Manager of T&TEC, discovered that absenteeism among employees was unusually high. Upon investigation, it became clear that many employees were taking time off to source financial assistance. At that time, the commercial banks catered largely to big businesses and the wealthy elite, leaving workers without sufficient financial support.
To rectify this issue, Mr. Finch invited the Department of Co-operatives to educate T&TEC employees about the concept of Credit Unionism. Educational sessions were held in Port of Spain, St. Augustine and the newly formed Southern Area, which included Penal.
Formation & Early Days
In February 1953, Mr. John Carr, the Commissioner for Co-operatives, along with the Southern Area employees, brought the idea of the credit union to life. An inaugural meeting was held, officers were elected and TATECO (Penal) Credit Union became a reality.
On June 16, 1953, TATECO (Penal) became a registered Credit Union, holding registration number 156. The first President, Mr. Charles E. King and Secretary, Mr. Etienne Mendez, were joined by a nine-member Board of Directors.
The journey began with a small group of dedicated members pooling their resources to build solidarity and offer financial support to each other. These early members saw the potential of collective effort and the power of creating an alternative to the traditional banking system. With their focus on community well-being, the credit union began to grow steadily, becoming a symbol of financial stability in Penal.
Transformation & Expansion
In 1956, as T&TEC experienced rapid growth, its operations were split, with Generation remaining in Penal and Distribution relocating to San Fernando, along with a majority of the credit union's members. In 1961, during the 8th Annual General Meeting, members voted to rename the credit union from TATECO (Penal) to TATECO (San Fernando), reflecting its expansion and broader vision to serve a larger community and address the needs of its growing membership.
In 1966, the credit union took a significant step by opening its first office on T&TEC's premises on Park Street in San Fernando. This marked the start of its physical expansion and solidified the credit union's presence in the heart of the South. As its membership grew, the credit union sought additional space to support its operations. The acquisition of Mendez House at #42 Gransaul Street, San Fernando in 1987 and purchasing the plot of land west of Mendez House at #41 Freeling Street, San Fernando in 1996, further strengthening its presence and deepening its connection with the community.
A Legacy of Dedication & Service
Loans & Member Empowerment
TATECO has always been more than a financial institution — it has been a partner in helping its members realize their dreams. A range of loan products emphasize affordable repayment terms and flexibility, ensuring members can achieve their goals without undue financial strain.
A Strong Global Connection
Central to our success is the commitment to putting members first, ensuring transparency, and adhering to the World Council of Credit Unions' (WOCCU) governance principles — including compliance with all relevant laws, public accountability, and a well-structured organisation with skilled officers.
The Pillars of Success
Every milestone, every loan approval, and every year of success was made possible by the individuals who supported the cooperative movement. Past and present members embody the spirit of self-help, mutual aid and social responsibility.
Our Presidents
As time progressed, the Credit Union evolved and expanded with each change in leadership. The Credit Union has been led by the following Presidents:
Charles E. King
1953 / 1955–1956
H. Mitchell
1954
Radcliffe Nelson
1957
John K. Long
1958
Weldon Greaves
1959
Thomas Searles
1960–1965 / 1967–1970
Etienne Mendez
1966 / 1971
Neville T. Tenia
1972–1974 / 1984–1989
Marcus Nelson
1975–1980
Donaldson Wilson
1981
Lionel Lawrence
1982–1983 / 1990–1991
Asraph Khan
1992–2003
Michael Johnitty
2004 / 2013
Samuel Griffith
2005–2012
James Solomon
2014–Present
Recognition & Achievements
Best Performing Industry Based Credit Union (Medium)
Trinidad and Tobago Credit Union Stabilization Board
Best Performing Industry Based Credit Union (Medium)
Trinidad and Tobago Credit Union Stabilization Board
Best Financial Performance & Most Improved Financial Performance (Medium)
Credit Union League of Trinidad and Tobago (CCULTT)
Best Financial Performance Credit Union (Medium)
Credit Union League of Trinidad and Tobago (CCULTT)
Best Financial Performance Credit Union (Medium)
Credit Union League of Trinidad and Tobago (CCULTT)
Our Milestones
Registered as TATECO (Penal) Credit Union with assets of $906.00.
Renamed to TATECO (San Fernando) Credit Union at the 8th Annual General Meeting.
Joined the Co-operative Credit Union League of Trinidad and Tobago and CUNA Mutual Insurance Society.
Opened first office on T&TEC premises, Park Street, San Fernando.
Hired its first full-time employee.
Revised bye-laws to include all T&TEC employees as members.
Increased board members from nine to twelve.
Reached $1 million in assets.
Acquired Mendez House at #42 Gransaul Street, San Fernando.
Computerized credit union accounts.
Launched a new logo at the 41st Annual General Meeting.
Purchased land at #41 Freeling Street, San Fernando.
Celebrated 50th anniversary and held first Sports and Family Fun Day.
Completed the new building on Freeling Street.
Surpassed $50 million in assets.
Took first strategic planning trip to Margarita.
Surpassed $100 million in assets.
Held first Children's Christmas Party.
Celebrated 65th anniversary and surpassed $150 million in assets.
Relocated the office to Freeling Street.
Celebrated 70th anniversary, surpassed $200 million in assets, and formally opened the Mendez Court office on Freeling Street.
Assets grew to an impressive $237 million.
Acquired property at #40 Gransaul Street, San Fernando.
Looking Ahead
TATECO (San Fernando) Credit Union Co-operative Society Limited remains a beacon of hope and opportunity for its members. From humble beginnings in Penal to being one of the leading credit unions in the country — with a growing membership base, increasing assets, a track record of consistent dividend payouts and low staff turnover, the credit union has earned the trust and confidence of its members.
Our journey showcases the power of membership, cooperation, and shared prosperity. Looking to the future, TATECO (San Fernando) is dedicated to continuing to empower its members and supporting their financial aspirations into reality.
Bye-Laws
Bye-Laws are the written rules that regulate and govern the business of the Credit Union and are required by the Co-operative Societies Act, Chap. 81:03. They ensure proper governance, transparency and accountability among the board of directors, officers and staff to the members of the Credit Union.
Open Bye-Laws (PDF)