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Who We Are

The Cayman Islands Civil Service Association (CICSA) Co-operative Credit Union Ltd. is a member based financial co-operative. It was founded in 1975 by 7 Cayman Islands Government Civil Servants, incorporated in 1976 and is focused on: providing services to members only at low fees; encouraging saving; and offering competitive loans to members. We are about members helping members!

Membership in the Credit Union includes persons who have attained 18 years of age and are employed by the Cayman Islands Government (including statutory authorities/boards/bodies) and/or local utility companies, and/or related to an individual employed by these bodies. Youth accounts are also offered to those below 18 years of age. The Credit Union is governed and operated by its members, all of whom are owners/shareholders and share in the distribution of dividends. For more informationemail the New Accounts team, or call 345-949-8415.

Learn more from the 2017 Annual Report

Learn more from the 2018 Annual Report

Learn more from the 2019 Annual Report



Sighting the usefulness, the Credit Union sought to have a website developed as an extension of customer services providing information. In the near future, this website is set to incorporate several other features including a business advert section for our members as well as other businesses.


With the devastation caused by Hurricane Ivan, the Credit Union suffered major damages, but was resilient enough to recover in a reasonably short period of time.


In 2001, the Credit Union decided to expand its membership and the decision was made to open its doors to new members including staff from the utility companies such as; Caribbean Utilities Company and Cable & Wireless. This precipitated yet another large growth of membership. In October 2001, the Credit Union opened its first full-service office in Cayman Brac. The support from the Brac members has been very encouraging and membership is increasing. There are now over 350 Members.


Mr. Jocelyn Jolly, President of the Caribbean Confederation of Credit Unions and President of Jamaica Co-operative Credit Union League, opened the renovated building on Thomas Russell Way in December of this year.


The Credit Union hosted the Caribbean Confederation of Credit Unions Conference and Annual General Meeting in 1996. Over 600 delegates from 29 countries around the Caribbean visited Grand Cayman and attended this convention, making it the largest convention held in the Cayman Islands to date.


In 1995 the Cayman Islands Civil Service Association provided financial assistance to the Montserrat Credit Union after the volcano erupted on Montserrat. With the support of the Cayman Islands, the Montserrat Credit Union was one of only two financial institutions able to remain open after the disaster.

The Cayman Islands Islands Civil Service Association Co-operative Credit Union was the only credit union in the Caribbean to offer support at that time. This assistance has continued and the Cayman Islands have since provided funds for the rebuilding of their new Credit Union offices in Montserrat.


In 1999 the Credit Union had outgrown its existing building and found it necessary to construct a new, larger facility on the current site. The Credit Union purchased an additional two parcels of land adjacent to its premises on Thomas Russell Way for investment purposes.


In the early 1990's, the Credit Union established a fund that would offer educational grants to its members and their families. The educational grants scheme has been very successful and has helped many of its members meet the burden of expensive school and college fees. Several of the grants' recipients have in fact joined the Credit Union on completion of their studies. Miss Joy Bryan was the first recipient of an educational grant and then began working with the Credit Union.


In 1987, the Credit Union purchased a parcel of land off of Thomas Russell Way, Grand Cayman. Building commenced and the Credit Union's very own premises was completed in 1990. The Credit Union over the next nine years experienced a large growth in its membership.


The Credit Union purchased its first piece of property on Crew Road. This land was later sold in 1990.


The Credit Union established its first presence in Cayman Brac in 1979-1980. Services were offered through a part-time officer who was located at the District Administration Building in Cayman Brac.


The Credit Union was registered on 26th March 1976. There were, at this point, a total of seven members who each contributed $5.00 to the Credit Union making a total of $35.00. The seven original members are; Gilbert McLean, Louis Moncrieffe, Lemuel Hurlston, Colford Scott, Ray Miller(deceased), Rachael Ebanks and George McCarthy.

Shortly thereafter, the Credit Union opened offices in the old Police Barracks that were located next to the Government Administrative Building.

Over the next decade, the Credit Union had offices in several different locations throughout Grand Cayman including Elizabethan Square, the Thompson Building and the Tower Building.


A group of Civil Servants, led by Mr. Louis Moncreiffe, discussed the possibility of starting a Credit Union in the Cayman Islands. This group then contacted the Jamaica Co-operative Credit Union who sent Mrs. Cicely Delapenha to assist with the formation of a Credit Union in Grand Cayman. The Cayman Islands Civil Service Co-operative Credit Union Limited was then started shortly thereafter.

This group of civil servants then held several study club meetings where a constitution was written and the rules for the Credit Union were established.