Credit Unions are non-profit co-operative financial organizations owned by their members, and which exist to serve those members. The credit union sector plays a significant role in contributing to the socio-economic  development of Saint Lucia. Credit Unions provide a means of enriching members’ lives, by allowing them the opportunity to provide the necessary resources to develop themselves, their families and by extension, the wider community. They offer a full range of financial services to Saint Lucians. Each credit union is independent and operated by a management team, who is appointed by its Board of Directors. There are sixteen registered credit unions and one credit union league, operating in St. Lucia. Credit unions in St. Lucia can be categorized into three groups: 1) public sector, (2) private sector and (3) community credit unions