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Transcorp Credit Union Co-operative Society Limited is now celebrating

50 Years

On October 18 1966, the Acting Training and Welfare Officer of Public Transport Corporation convened a meeting with the employees of the Corporation. The purpose of the meeting was to give consideration to the formation of a credit union. Mr Mahabirsingh of the Co-Operative Department was present to provide an insight into the credit union movement. The late Mr. George de la Grenade, Deputy General Manager was elected pro tem chairman.

On November 21, 1966 another meeting was called at which a Steering Committee and sub-committee were set up draft the constitution. Mr. Carlton Preddie was appointed Chairman of the Steering Committee. The marketing of the credit union would be simple “each one tell one”

By February 27, 1967, a report was submitted to the Deputy General Manager (PTSC) with recommendations including the name of the credit union – Public Transport Service Credit Union (co-p) society Ltd and seeking assistance for use of its premise. The membership fee would be 25 cents and the minimum contribution to a share will be $1.00, while one share will be $5.00.

By April 25, 1967 a General Meeting was held to usher in the movement. A provisional management team was elected and included Mr. E. Campbell as President and P. Subiah as Secretary. By the end of June 1967, the membership was 87 and share Capital - $1,200.00. The office by then was operating with one part-time staff and by January 1969, due to the greater volumes, it was decided that three committee members would provide assistance daily basis for two hours. The movement was officially registered on July 7th 1969.

On December 7, 1995, the society opened the doors of its supermarket on the compound of PTSC to service the needs of its members. Unfortunately, this initiative failed to provide any real return and closed its doors in 2005.

In 2002, the Credit union moved over to its own building at 7 – 9 Piccadilly Street Port of Spain where it operated until 2008 before the “Slum Act” was enacted which saw the Government of Trinidad and Tobago, through the Housing Development Corporation acquiring the property. The office then relocated to its present location on 60 Fifth Street Barataria.

On June 26, 2002 , the society changed its name from the Public Transport Service Corporation Credit Union Co-operative Society Ltd to Transcorp Credit Union co-operative society Ltd to reflect a wider boarding of its members.

In 2005, the Society was approached by the government of the day to provide office accommodation for its ministries through a lease arrangement. The government had by that time, started partnering with the private sector to provide services for its ministries. Fire Services Credit Union joined with Transcorp to form Transcorp Development Limited to begin acquiring the land opposite Citygate, and the sod turned on April 9, 2007 by the Honourable, Mr. Patrick Manning to mark the commencement of the development of what was by now a 28 storey office complex.

In 1998, the San Fernando office was opened on the compound of the Public Transcorp Services Corporation, at Kings Wharf and in late 2008, shifted its operations to the Cathay House Shopping Centre on St James Street.

To serve the members from Tobago, a service desk was set up in PTSC’s offices at NIB Mall in 2002 while trying to locate a permanent office. A permanent office was finally set up in August 2009 at the NIB Mall.

In 2009 Transcorp acquired the property it currently occupies. As at June 30, 2013, the active membership was 5642.