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.

The Koperativ Tèt Ansanm pou Lavi Miyò (KOTELAM) is a credit union founded at the Station Baptiste Faubourg Salomon under the instigation of Frantz Prinvil, the founder of KOTELAM. It must be said that the 1st meeting was held on May 21, 1989 with 6 people but the Constitutive Assembly was held on November 28, 1989 which is also the date of founding of KOTELAM. The idea of ​​helping to provide certain answers to the socio-economic problems of underprivileged social strata was the basis of the founding of this fund. Kotelam celebrated its 25 years of existence on November 28, 2014.

History The initiative to create COOP-RESERVES arose in December 1987, at a working meeting with the Human Resources Directorate of the Reserve Bank, with the aim of achieving a means of dealing with inflation. The purchasing power of personnel was considered to acquire basic goods and services directly from producers, in large quantities. We are the cooperative company of the members of the Family Reservations, initiative of a group of employees in 1987 they decided to unite to create the necessary conditions to satisfy their common needs, under a cooperative philosophy. In 1990 it was incorporated by Decree 82-90 of the Executive Power, under the name of "Cooperativa de Servicios Múltiples de la Personal de Banco de Reservas, de la República Dominicana".