Central Co-operative Credit Union Limited was registered as a newly formed credit union on July 2, 2007 on the amalgamation of the St. Alphonsus and Portsmouth credit unions. The amalgamation which grew from the strategic and long term planning of these two strong credit unions brought together the second and third largest credit unions on the island with combined assets of $59.4 million in assets.
As a result of the amalgamation members of Central are able to enjoy convenience and access to funds from conveniently located branches in the capital and the second town. CCCUL is able to enjoy economies of scale and tremendous growth since the cost of operations is now measured against a larger asset base and a larger income.