Episode
Barbados Credit Unions Now Insured
- Published
- Jun 27, 2026
- Duration seconds
- 113
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Summary
Barbados just made a historic move by passing the Protection of Depositors Bill, finally giving credit union members the same safety net as bank customers. With over 200,000 people holding $3 billion in savings, this long-awaited legislation — pushed for over a decade — ensures deposits are protected, especially after past financial crises like CLICO. The government is backing it with $1.7 million to launch the protection fund and slashing payout times from three months to just seven days. Insurance limits will be reviewed every five years, and outdated rules dating back to 1951 are being scrapped to let credit unions grow and innovate. This is a major win for financial security and a step toward a modern, inclusive banking system. Support the show: Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN: [email protected] This is an automated, high-level news summary based on public reporting. Report issues to [email protected]. View sources & latest updates: https://sources.thednn.ai/06874a8ba7bbca59