The Bahamas Co-Operative League Limited located at 25 Jerome Avenue, is pleased to announce the opening of its Central Finance Facility, also referred to as the CFF.
The Bahamas Co-Operative League Limited is the APEX organization for Credit Unions in The Bahamas, and establishing a Central Finance Facility for Bahamian Credit Unions has been a key initiative of the League for many years.
The Central Finance Facility offers Bahamian Credit Unions a secure domicile for liquid funds. It also offers credit and other banking services plus investment opportunities.
It is expected that the CFF will achieve its main goal of becoming the major lender, and the primary depository of Credit Unions in The Bahamas within the next five years.
The Credit Union System presently has assets of approximately $120,000,000.00.
The League’s Central Finance Facility will be managed by its Supervision and Investment Specialist H. R. Theo Moss. Mr. Moss will bring his years of Credit Union service and his Portfolio and Investment Management experiences to the job.
Moss stated, “It is an honor I respectfully accept and I am up to the challenge of attaining the worthy and lofty goals of the Bahamas Co-Operative League and its Central Finance Facility. I assure you I will focus and dedicate my expertise to that end”.
Moss explained that The League’s Central Finance Facility would centralize all credit union excess capital and employ leverage of the system’s volume to obtain better returns on traditional and new investments.
The CFF will use the Bahamas Credit Union system’s excess liquidity, to create the ability for affiliated Credit Unions to serve more members with loans.
In addition to providing the Bahamas Credit Unions System with banking and related services, the CFF will manage the System’s liquidity Reserve, the System’s Statutory Reserves, and the Systems Stabilization Fund.
