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Saint Fracis Xavier
Thursday, 27 May 2010 22:50
St. Francis Xavier Credit Union Ltd. was founded in 1947 by Fr. Henry Suttie S.J. It functioned for some years, but it was financially weak and stagnant. In December of 1979 it was re-organized by Fr. James Walsh S.J., and under new management, it has been growing and thriving since.
St. Francis Xavier Credit Union Ltd. is a cooperative financial institution, having a Cooperative Structure. However, Credit Unions are different from other financial institutions in several unique ways. They are organized for the purpose of providing financial services to a certain group of people, the members. All surplus earnings are returned to its members in the form of dividends and rebates annually. It is a democratically controlled organization; each member has one vote. "People Helping People" is the basic philosophy of the Credit Union.
WEBSITE: http://www.sfxcu.org/
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