Founded in 1947 by Rev. Henry Suttie S.J. It functioned for some years, but it was financially weak and stagnant. In December of 1979 it was re-organized by Fr. James Walsh S.J., and under new management, it has been growing and thriving since.
St. Francis Xavier Credit Union Ltd. is a cooperative financial institution, having a Cooperative Structure. However, Credit Unions are different from other financial institutions in several unique ways. They are organized for the purpose of providing financial services to a certain group of people, the members. All surplus earnings are returned to its members in the form of dividends and rebates annually. It is a democratically controlled organization; each member has one vote. “People Helping People” is the basic philosophy of the Credit Union.
