CICSA
CICSA Cooperative Credit Union Limited is a Cayman Islands member-owned financial cooperative serving over 20,851 members across Grand Cayman and Cayman Brac with deposits, mortgages, consumer loans, and digital banking services under CIMA regulation.
- Company typePrivate
- Founded1976
- HeadquartersGeorge Town, Cayman Islands
- Headcount11–50
- GTM typeB2C
- OfferingServices
What CICSA does
CICSA Cooperative Credit Union Limited is a member-owned financial cooperative incorporated in the Cayman Islands in 1976 under the Cooperative Societies Act and regulated by the Cayman Islands Monetary Authority (CIMA). Originally founded by seven civil servants with a combined CI$35 contribution, the institution has grown to serve over 20,851 members across Grand Cayman, Cayman Brac, and Country Corner, with total assets of approximately $705M and a gross loan portfolio of $518M. The core offering consists of deposit products (share/savings accounts, fixed deposits) and a diversified lending suite including mortgages (6.75% APR, up to 25-year terms, up to 80% financing), land loans (6.75% APR, up to 100% financing), personal loans (up to 20-year terms), car loans (up to 7-year terms), revolving lines of credit, and a Within Share Loan that allows borrowing against own savings while retaining dividends. An interest rebate program returns up to 3% of loan interest annually on loans in good standing, and surplus earnings are returned to members through dividends rather than to external shareholders.
The underlying technology stack centers on the CUonline digital banking platform (web and mobile, launched in enhanced form March 2022), the CUconvenience remote service request hub, an ATM network across three locations, and online loan application portals powered by applyon.app with mortgage/loan calculators for self-service qualification. Distribution combines physical branches with digital self-serve, scheduled loan officer appointments (virtual and in-branch), and payroll deduction integrations with Core Employers. Revenue is generated primarily through interest income on the loan portfolio and fee-based services (ATM transactions, standing orders, reference letters, account research, delinquency and compliance fees), with non-member Core Employer deposits providing an additional funding channel. Customer segments span civil servants and public sector employees (the founding base), general Cayman Islands community members, youth savers (1,999 under 18), and organizational Core Employers; marketing relies on community engagement, financial literacy content via the Learn platform, social media, member newsletters, and 50-year heritage positioning rather than commercial advertising.
CICSA firmographics
Firmographics- Name
- CICSA
- Legal name
- CICSA Cooperative Credit Union Limited
- Website
- https://creditunion.ky
- Company type
- Private
- Founded year
- 1976
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- CICSA Cooperative Credit Union Limited is a Cayman Islands member-owned financial cooperative serving over 20,851 members across Grand Cayman and Cayman Brac with deposits, mortgages, consumer loans, and digital banking services under CIMA regulation.
- Ownership category
- akta.pro rank
CICSA industry classification
Industry- Product category
- Credit Union Retail Banking
- NAICS
- Credit Unions (522130)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Student/University Credit Unions (FSABAEAJ)
- akta.pro secondary industry
- Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)
Keywords
Where CICSA is headquartered
LocationHeadquarters
- HQ city
- George Town
- HQ country
- Cayman Islands
Offices5 records
Markets served
CICSA business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Interest Income on Loans: CICSA generates primary revenue from interest charged on loan products including mortgages, car loans, personal loans, land loans, and lines of credit. As a not-for-profit cooperative, surplus earnings are returned to members through better rates and annual dividends.
- Fee-Based Services: Revenue generated from various service fees including ATM transactions, standing orders, reference letters, account research, delinquency fees, compliance fees, and other banking service charges.
- Savings Deposits: Members provide deposit funding through share accounts, savings accounts, and fixed deposits. These funds are used to support lending activities.
- Non-Member Deposits: Non-Member accounts (Core Employers including Government and government-owned entities) can hold Fixed Term Deposits and Savings accounts, providing additional deposit funding though not eligible for dividends.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Mortgage Loans - 6.75% APR with up to 80% financing |
| Subscription | Monthly | Land Loans - 6.75% APR with up to 100% financing |
| Subscription | Monthly | Personal Loans - Competitive rates, repayment up to 20 years |
| Subscription | Monthly | Car Loans - Competitive rates, repayment up to 7 years |
| Usage-based | Monthly | Line of Credit - Flexible access with competitive rates |
| Subscription | Monthly | Within Share Loan - Reduced interest rate, minimum $500 |
| Usage-based | Pay-as-you-go | Cash Advance - Up to 50% of salary, small fee |
Go-to-market motion2 records
Distribution channels7 records
Marketing channels8 records
CICSA product offering
Product offeringCore offering
CICSA is a member-owned cooperative credit union offering a full suite of retail banking and lending products to its members across the Cayman Islands. Its portfolio includes mortgage loans, car loans, personal loans, land loans, lines of credit, share/savings accounts, fixed deposits, and digital banking services through the CUonline platform and CUconvenience remote-service hub.
Product overview
CICSA (Cayman Islands Civil Service Association) Co-operative Credit Union Limited operates as a member-based financial co-operative offering a comprehensive suite of banking and lending products. The portfolio centers on core loan products (Car Loans, Personal Loans, Land Loans, Mortgage Loans, Line of Credit, Within Share Loan, Go Green Home, and Debt Management) complemented by deposit services (Share & Savings Account, Fixed Deposit) and digital banking through CUonline and CUconvenience platforms. Additional services include ATM access, Standing Orders, Guarantee Letters, Cash Advances, Reference Letters, Payroll Deduction, Automatic Transfers, and account management services. The credit union serves over 20,000 members across the Cayman Islands with both traditional branch services and modern digital channels.
Differentiator
Problem solved
Functional benefit
Brands
- CUonline: The Credit Union's secure online transaction portal and mobile app, providing cashless convenience for managing accounts, transferring funds, paying bills, and more.
- CUconvenience
Products and services
- Mortgage Loans
Quantifiable outcome
- Up to 3% interest rebate (cash back) on loan interest paid annually for loans in good standing
- +4 more outcomes
Companies that use CICSA
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles4 records
CICSA technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
CICSA partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered minor and core.
- National Trust for the Cayman IslandsminorPartnership for '50 Trees for 50 Years' sustainability initiative celebrating the credit union's 50th anniversary. Demonstrates commitment to environmental responsibility and community engagement.
- Caribbean Confederation of Credit Unions (CCCU)coreCICSA is a member of the CCCU, which in turn is a member of the World Council of Credit Unions (WOCCU). Provides access to global credit union network, industry best practices, and professional development resources.
- World Council of Credit Unions (WOCCU)coreCICSA forms part of the global credit union organization through membership in CCCU which is a member of WOCCU. Provides international standards, advocacy, and network connectivity for credit unions worldwide.
- Go Green Home InitiativeminorPartnership offering discounted financing for energy-efficient, environmentally-friendly home improvements. Listed alongside loan products on the main loans page.
Scale indicators10 records
Recent moves6 records
Expansion highlights6 records
CICSA competitors and assessment
Company assessmentRegional players
- FirstCaribbean International Bank: FirstCaribbean is a major Caribbean banking group serving multiple Caribbean nations including the Cayman Islands. Comparable as a regional financial institution with Cayman Islands presence and broader Caribbean footprint.
- Bahamas Co-operative Credit Union League: The Bahamas Co-operative Credit Union League is a trade association for credit unions in the Bahamas. Comparable as a regional credit union peer in the Caribbean with similar member-owned cooperative structure and Caribbean market dynamics.
- Belize Bank: Belize Bank is a major Caribbean bank operating in Belize, offering similar retail and commercial banking services. Comparable as a regional Caribbean financial institution serving a small island economy with similar deposit and lending products.
Others
- Caribbean Confederation of Credit Unions (CCCU): CCCU is the regional trade association for credit unions in the Caribbean, of which CICSA is a member. Comparable as an industry association and ecosystem participant that CICSA directly partners with for industry standards and best practices.
Broad incumbents
- RBC Royal Bank Cayman: RBC Royal Bank operates in the Cayman Islands offering retail and commercial banking services as part of its global network. Comparable as an international bank with Cayman Islands presence serving both consumer and corporate clients.
- Butterfield Bank: Butterfield is a major offshore bank in the Cayman Islands and Bermuda, offering broader banking and wealth management services. Comparable as a Cayman-headquartered financial institution with a wider product portfolio including credit cards and investment services.
- Desjardins Group: Desjardins is the largest cooperative financial group in Canada, operating as a credit union cooperative. Comparable as a large, established credit union cooperative model with member-owned governance, deposit-taking, and lending activities.
- Navy Federal Credit Union: Navy Federal Credit Union is the largest natural credit union in the US, serving military members with member-owned cooperative model. Comparable as a large, established credit union operating under similar cooperative principles with deposit and lending products.
- Scotiabank Cayman: Scotiabank operates in the Cayman Islands offering retail and commercial banking services as part of its global network. Comparable as an international bank with Cayman Islands presence offering deposit and lending products to similar customer segments.
Direct peers
- Cayman National Bank: Cayman National Bank is the largest locally owned bank in the Cayman Islands, offering retail and commercial banking services including deposits, loans, and mortgages. Direct competitor to CICSA in the Cayman Islands local market serving both individuals and businesses.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
CICSA social profiles
Digital presenceCICSA financial estimates
Financial estimateRevenue estimate
Valuation estimate
CICSA leadership team
Management profileNumber of profiles
Profiles9 records
CICSA funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CICSA M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CICSA
What does CICSA do?
CICSA is a member-owned cooperative credit union offering a full suite of retail banking and lending products to its members across the Cayman Islands. Its portfolio includes mortgage loans, car loans, personal loans, land loans, lines of credit, share/savings accounts, fixed deposits, and digital banking services through the CUonline platform and CUconvenience remote-service hub.
Is CICSA a public or private company?
CICSA is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was CICSA founded?
CICSA was founded in 1976. It employs 11 to 50 people.
Where is CICSA based?
CICSA is headquartered in George Town, Cayman Islands.
How does CICSA make money?
Four revenue lines are on record. Interest Income on Loans are the primary driver. The others are fee-Based Services, savings Deposits and non-Member Deposits.
Who are CICSA's main competitors?
Regional players on record are FirstCaribbean International Bank, Bahamas Co-operative Credit Union League and Belize Bank. Caribbean Confederation of Credit Unions (CCCU) is listed as an others. Broad incumbents are RBC Royal Bank Cayman, Butterfield Bank, Desjardins Group, Navy Federal Credit Union and Scotiabank Cayman. Cayman National Bank is listed as a direct peer.
Does CICSA have an API?
No public API is recorded for CICSA.
What industry is CICSA in?
CICSA's product category is Credit Union Retail Banking. Its primary akta.pro industry code is FSABAEAJ, Student/University Credit Unions, with a secondary code of FSAKAAAL, Bank & Credit Union Personal Loans (Unsecured Installment). Its NAICS code is 522130 and its SIC code is 6141.