
[Source: Parliament of the Republic of Fiji/ Facebook]
The Fiji Teachers Union Cooperative Thrift and Credit Limited has noticed a growing trend where cooperatives are operating primarily as financial institutions.
In its submission to the Standing Committee on Economic Affairs during the review of the Credit Union Bill 29 of 2025, the Cooperative’s Chief Executive, Chandar Dutt, said that some unions are heavily focused on issuing loans rather than upholding the broader cooperative principles of member welfare and community development.
Dutt highlighted that many cooperatives are beginning to resemble commercial banks in both structure and function.
Chandar Dutt [File Photo]
The union noted that while offering loans is a key function of credit unions, the cooperative movement was built on more than just money; it was founded on mutual support, shared responsibility, and the financial empowerment of its members.
“See, in cooperatives, the scope is very broad. You have land cooperatives, farming cooperatives, and small business shops in villages. But for us, we are solely financial; we only deal with money and issuing loans.”
He stressed the importance of having proper legislation, stating that without clear regulations, cooperatives risk losing their identity and purpose.
The Fiji Teachers Union Cooperative says the new law should be flexible, inclusive, and future-ready, and they are ready to help with its development.
Stream the best of Fiji on VITI+. Anytime. Anywhere.