Bridgetown.
The Barbados Public Workers Cooperative Credit Union Limited (BPWCCUL) will be levying a $20 charge on members who are late with their loan payments from September 1.
A letter signed by operations manager of BPWCCUL Susan Yaw, informed members that is being enforced because of a rise of delinquency in the repayment of loans.
"What we have found is that some of our members seems to think that we are the last resort in line of the people to pay.", says Yaw.
"Because the credit union is not know for charging fees, I think there may be a bit of outcry from our members, some of them might think we are operating like the banks. Yes we are for our members but the members have to be mindful that if they don't pay, then others can't not borrow", she added.
