Trinidad Cement Employees’ Credit Union was established in 1954 with just seventy-nine dollars and 58 persons as members.

It was form around a common bond of association, that is, employment with Trinidad Cement Ltd and as its first President, Frank Johnson the then Works Manager at TCL.

The Credit Union therefore started in the main as an employee-based Credit Union, which permitted members, that is employees of the company to save and access loans at reasonable rates of interest.

At the end of its first year in operation, 1954, the Trinidad Cement Employees’ Credit Union increased its total asset from a mere seventy-nine dollars on formation to $20,000 which by today’s standard might not be seen as much but was a significant sum in those days.

For the next three decades, from 1964 to 1994 the Trinidad Cement Employees’ Credit Union operated under the stewardship of Mr. Everad Dean, and had been successful in continuing the positive trend of growth in its total assets, which grew from approximately $250,000. in 1964 to $ 692,602 in 1974.

Over the next decade, CEMCU crossed another threshold passing the million dollar mark ending in 1984 with over five million dollars in total assets, and which further increased to thirteen million dollars when Everard Dean Stint as President ended in 1994.

It was during this period, that Trinidad Cement Employees’ Credit Union began to reveal certain signs of distinction and excellence, starting from when a dividend of 8% was paid.

It should be noted that until our recent influx of new members especially children, our average savings per member was $75,000 which is way above the average savings for any credit union in Trinidad & Tobago and indeed the Caribbean and Latin America.

Although CEMCU is not one to go after awards, we have received over eight awards from the Trinidad and Tobago Credit Union League and the Credit Union Stabilisation Fund for the continuous excellent performance and the pivotal role we have played in transforming the financial landscape.

These include:


In addition to this, CEMCU has played an important role as a good corporate citizen by investing in our nation’s youth.

Bursaries have been granted to all successful SEA, CXC O’ Level and 2nd Year University students, who are members.

CEMCU also provides assistance to schools in our immediate community and other institutions such as the Cheshire Home and the South Cancer resource group, amongst others.

Within the cooperative movement, CEMCU has assisted other credit unions by financing their projects.

Members would already know, that we provided Mt. Pleasant Credit Union of Tobago with the money required to make its down payment in purchasing the land for its massive housing project in Bacolet Park in Tobago.

This has permitted our members to become landholders in the said project.

Added to this, CEMCU has in the past assisted the Trinidad and Tobago Credit Union League and the Central Regional Chapter, supporting the wider credit union movement for continuity of existence and development.

With the formation of the Central Financing Facility in the 1990s, CEMCU put its money where our beliefs were, for the betterment of the movement and its members , and continues to be the largest shareholder since the inception.

Where the average investment of a shareholder is $50,000.

CEMCU is therefore proud to have led the way by sponsoring this organisation with $275,000 invested in shares.

Although Trinidad Cement Employees’ Credit Union is a small credit union in terms of members, it does not see itself in anyway restricted by size; and selflessly seeks to promote credit unionism throughout the country, by working together with all stakeholders in the cooperative process.

Our size has not stopped us from producing a President of the League, nor two Presidents of the Central Finance Facility, and at present, the Vice President of the Credit Union Stablisation Fund.