The number of existing and operational credit unions in the country has significantly decreased, and it is currently estimated that fewer than 20 credit unions remain, of which only four are members of the Fiji Credit Union League.

This was highlighted by Filomena Talawadua, Vice President of the Fiji Savings and Credit Union League, during her business submission to the Standing Committee on Economic Affairs on Bill No. 29 of 2025 – the Credit Union Bill, this morning.

She says the Registrar mainly handles credit union registration and deregistration and is the only link to the Government, but little focus on good governance, accountability, and sharing information with members may have caused problems.

FSCUL adds the Credit Union Act 1954 hasn’t been updated much and focuses too much on operations rather than financial health, and that the new law should recognize that many credit unions have operated for over 10 years and continue serving their members despite challenges.

“With this review, it must be taken into due consideration that many of the viable credit unions today were established and formed by ordinary working people or institutions who shared a common bond. This bill must not in any way subject the credit unions to micromanagement by the suggested external regulator.”

Standing Committee on Economic Affairs Chair, Sakiusa Tubuna, has questioned the union’s response to the decrease in its membership.

“One of the things that I would like to raise is in terms of membership. With the Fiji Savings and Credit Union League, with only four institutions now being members, what has been the reason for the decline in credit unions joining the Fiji Savings and Credit Union League?”

In response, Talawadua says they have faced challenges since 2015 but have been gradually managing to clear debts, pay overdue payments, and

address any mismanagement within the organization that has impacted the union’s membership.

Talawadua adds they keep encouraging other unions to work together to revive the credit union movement and restore what it once gave back to Fiji and its members.

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