MEMBERS OF THE ISLAND’S second largest credit union stashed away about $10 million more in savings at the end of March this year than they did a year ago.
However, despite the determined efforts of City of Bridgetown Co-operative Credit Union (COB) members to put more of their money aside for a rainy day, it represented a significant drop from the additional $18.3 million they saved between March 2013 and March last year.
COB’s 55 000 members accumulated a total of $333.14 million in savings up to March 31, this year. This was a jump on the $323.37 million they saved in 2014.
General manager Steve Belle told the SUNDAY SUN last night that usually in tough economic times Barbadians tended to cut their demand for loans while topping up on their savings.
Please read the full story in today’s Sunday Sun, or in the eNATION edition.
