Licensed Financial Institutions
About Friendly Societies
Friendly Societies
According to Section 6 of the Friendly Societies Act 2021, a Friendly Society is created for the purpose of:
- Paying money for funeral costs after a member’s death; and
- Promoting savings and thrift among members or Any charitable purpose (including making donations, raising funds, or similar activities).
To register under this Act, a friendly society must apply to the Registrar using the correct form.
At present the sector is comprised of an Apex body and four Credit Unions, collectively serving more than two fifths of the population. An application for the registration of a Credit Union must be made to the Financial Services Authority in the prescribed form.
Three copies of the proposed by-laws of the cooperative society, the prescribed application fee and other information in respect of the co-operative society as the Registrar may require must accompany the application.
Licensed Friendly Societies
| Friendly Societies |
|---|
| Marriaqua United Friendly Society |
| The Brotherly Love Friendly Society |
| Lower Bay Progressive Friendly Society |
| Chateaubelair Olive Friendly Society |
| The People’s Successful Friendly Society |
| United Brethren Friendly Society |
| Canouan Perseverance Friendly Society |
| The Barrouallie/Layou Prudential Friendly Society |
| Buccament Wise and Prudent Friendly Society |
| Troumacca Temperance Friendly Society |
| Calliaqua Provident Friendly Society |
| The Chateaubeliar Prudent Friendly Society |
| St Patrick’s Friendly Society |
| New Testament Church of God Benefit Society |
These friendly societies contribute to the social fabric of St. Vincent and the Grenadines, offering financial support and community services to their members across various regions of the country.
Related Forms (Friendly Societies)
Friendly Society Reporting Form
(a) There shall be a non-refundable registration fee of EC$300.00 payable upon registration.
(b) An annual renewal fee of EC$300.00 is payable by December 31st of each calendar year.
Please note that once a complete application is received (all relevant documents are filed and the application fee is paid) the processing time for the application is 3 to 4 weeks.