BICCU Bahama Islands Co-operative Credit Union


The Paradise Island Resort and Casino Cooperative Credit Union (PIRCCCU) is pleased to announce the launch of its new and innovative Internet Teller. PIRCCCU’s Internet Teller which can be easily accessed at offers ease and convenience for its valuable members who can now view their accounts, apply for loans and conduct financial transactions in the privacy of their homes or at work.

The Internet Teller became fully operational on Wednesday, April 13, 2005. Exactly five days later on April 18, 2005, the credit union approved and issued its first internet loan request.

PIRCCCU’s General Manager, Oliver A. Hutchinson said, ?The new Internet Teller service is a bold step forward for PIRCCCU and comes at a time when most financial institutions in The Bahamas are using innovative technology to further improve the level of financial services provided to their members and customers.? He continued, ?We at PIRCCCU value our members, who actually are our owners and the launch of our Internet Teller, is another step that will make doing business easier for the credit union?s members.?

PIRCCCU’s Chairman and Founding Member, Eugene Cooper pointed out that PIRCCCU, the third largest credit union in The Bahamas with over 3,000 plus members and the first credit union with Internet Teller is continuing to set the pace in the credit union movement. For a long time we always felt that by using the available technology we could increase the efficiency of PIRCCCU’s operation thereby saving money and giving that money back to our valuable members. When the new board was elected, we looked at the operation and ways we could improve and make it more efficient. Hence the Internet Teller was established.?

Mr. Cooper informed that already the Internet Teller has proven to be a major benefit for the organization and its members. ?A lot of members are now using the Internet Teller, rather than calling or coming into the office to ask simple questions. This in turn has freed up our telephone lines and has greatly assisted members in saving time, in that they no longer have to visit our office during their lunch break and it also saves them gas.?

Mr. Cooper said, ?Additionally, members can apply for a loan and access other services via the internet. In the case of loan requests, all it entails is a routine check of our loan requests listing and members? financial history. Once our members qualify we will in turn notify them when they can collect their cheque. If they outright qualify they can collect the cheque the same day. As a matter of fact several of our members have already done this, so it works!?

The Internet Teller really adds additional hands to our staff without incurring any significant expenses. And our philosophy is that where there is money to be spent it should be invested in our credit union?s members, said Mr. Cooper.

Members of the Paradise Island Resort and Casino Cooperative Credit Union are impressed with the high level of service provided by the Internet Teller. Ednamae Jones, an employee in the Accounts Payable Department at Atlantis applied for a loan over the internet and had her loan approved, cheque signed and collected on the same day.

Kino Lockhart, a Mechanical Manager in Atlantis Water Features Department applied for a loan via the Internet Teller on April 18. The following day he received a call notifying him that his loan application was approved and a cheque was ready for him.

I was totally blown away. The Internet Teller is very efficient and I was able to save time as well as gas in that I did not have to visit PIRCCCU’s office,? said Mr. Lockhart. I’ve noticed various banks promoting their internet services and I am pleased that the credit union is making advancements and is getting better everyday by offering personalized services.

Both PIRCCCU officials commended the Education Committee of the Paradise Island Resort and Casino Cooperative Credit Union for their role in assisting in the formation of the Internet Teller.

PIRCCCU offers a variety of services inclusive of consumer loans, mortgages, high performance certificates of deposits, savings accounts, Christmas and Vacation Club accounts as well as financial planning.