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About Us

Finding Inspiration in Every Turn

PALO SECO CREDIT UNION Co-operative Society Limited was established after the war as a thrift and study club to facilitate the workers in the oil belt. PALO SECO CREDIT UNION  from its humble beginnings emerged as a force within the Co-operative movement, due to the courage, vision and commitment of its founding members, and has matured into a Community Credit Union. It was registered on January 30th,1948 and was located within the Oilfields of South Trinidad (Los Bajos). The Palo Seco Credit Union relocated years later and  officially opened up its new Head Office Saturday 16th October,1993 located at 856-858 Siparia,Erin Road,Los Bajos. The Head Office was built with the accommodations for office operations and full auditorium facilities.

About Palo Seco & Us

Within the geographical area of Siparia to Erin, the major activities which fuels the existing businesses and employs the members of the community, are all fueled by the ongoing petroleum producing activities through Oil companies and Farm-out operations. Adding to the major activities, the communities surrounding these companies took the opportunity to enhance the area through farming and small businesses. It is from these communities, small businesses, companies and farmers that the majority of the organisation's membership is derived.


The Board of Directors sees Palo Seco Credit Union as an efficient and effective organisation managed along lines that maximizes benefits, resulting in favourable returns to its members, It is result oriented and operates in a manner that strives for high service levels when interacting with its members. Palo Seco Credit Union has a member base from all geographical locations, both within Trinidad and Tobago and abroad.


On the 18th August 2007 the Credit Union opened its Fitness Center and Conference facility also at Erin Road, Los Bajos. Today it is named Virginia Haynes Fitness Center after the late Mrs. Virginia Haynes, our past secretary of the Board of Directors.

Meet The Team


The Credit Committee is elected  by the Credit Union members at its annual general meeting. They serve on a voluntary basis for a period not exceeding Three(3) years. The committee consists of not less than Five(5) but not more than Seven(7) persons.

The Committee meets on every Tuesday and  Thursday and their decisions are all made within the Credit Union’s policy and procedures established by the Board of Directors.

It is the responsibility of the Credit Committee to carefully review all member loan applications. It involves an assessment inter alia of: 

  • Purpose of Loan

  • Financial position of each member,guarantor/ co-maker inclusive of their capacity to repay.

  • Member’s financial history

  • All necessary documentation relevant to the loan and collateral related.

  • Interview of members, if necessary.


The Supervisory Committee is elected by the Credit Union members at its annual general meeting. The officers serve on a voluntary basis for a period not exceeding Three(3) years. This committee shall comprise of not less than Three(3) but not more than Five(5) members. The members of the committee must meet at least once a month to carry out its mandate.

  • The committee is in place to ensure policies and procedures are established and practiced to safegauard member's interest and rights.

  • Review member accounts, loan application to ensure that transactions are pursued on the arm’s length basis.

  • Perform periodic internal audits of operational areas to evaluate the books and records of the credit union for

  • accuracy, honesty, and integrity.

  • Reviewing the recording and documentations it pertains to assets of the co-operative.

  • Review and assess the procedures of the Credit Union for the proper handling and use of funds.


The committee is a sub-committee of the Board and is responsible for the educational development of the credit union’s membership.

The committee comprise of three(3) members of the Board of Directors and two(2) members.

They are responsible for:

  • Seminars

  • Scholarship Awards

  • Senior Citizen Days Out

  • Run/Walk Fun Ride

Our Partner Organisations

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