In1957, the Credit Union League was formed with the then twelve (12) existing credit unions on the island. The League grew out of the need for one, unified voice for the fledgling Credit Union Movement in Dominica.
Following the establishment of the first credit unions in 1951, the dream of the leadership of the movement was to secure Loan Protection (LP) and Life Savings (LS) Insurance through CUNA Mutual Insurance Society of the USA for the membership.
But to qualify for the insurance benefit, Credit Unions had to belong to a National Organization which in turn would seek affiliation with the Credit Union National Association (CUNA) parent body of CUNA Mutual. There are now nineteen (19) credit unions all community-based, affiliated to the League.
At the League’s 43rd AGM in 1999, a resolution was unanimously passed to amend the by-laws to represent all co-operative societies on the island. The Commissioner of Co-operatives on 27th March 2000 certified approval in keeping with the provisions in Section 15 of the Cooperative Societies Act of 1996.
The name “The Dominica Cooperative Societies League Ltd”, replaces the Credit Union League. The Motto is “Agent for Cooperative Societies Development”. The National Producers Cooperatives are presently holding discussions for affiliation with the League.