On April 16th, 1985, the Royal Bahamas Police Force Co-operative Credit Union Limited became registered under the Department of Co-operative Development. It was fully established as a union on April 28th, 1985. By this time, more than one hundred and fifty (150) applications for membership were received.
During the months (April-July 1985) leading up to the first AGM a Steering Committee was appointed to manage the affairs of the Credit Union. Ms. Ismella Davis managed the duties at the Nassau Office, while Mr. Clarence Russell was made responsible for the Grand Bahama District. In a presentation of the report from the steering committee at the first AGM, Ms. Davis reported that approximately $18,920.00 in payroll deductions had been received since April and membership totaled some two hundred and two (202) persons in New Providence and fifty-seven (57) persons in Grand Bahama.
The first Annual General Meeting of the Police Credit Union was held in the auditorium of the Police College, Oakes Field. It was at this meeting that the first Board of Directors and Supervisory Committee were elected. The Directors were: Ms. Linda Williams, President; Mr. Clarence Russell, Vice President; Ms. Ismella Davis, Treasurer; Mr. David Cartwright (deceased), Member; Mr. Ulric Smith (deceased), Member; Mr. William Moss (deceased), Member and Irvin Taylor, Member. Members of the Supervisory Committee were: Mr. Reuben Smith, Mr. R. Cunningham, and Mr. Ellison Greenslade. Since that time, the Police Credit Union has experienced much growth. By the end of 1987, it recorded more than one million dollars ($1.0M) in assets with a membership base of almost eight hundred (800) persons. To accommodate this tremendous growth, the Credit Union was relocated from a cramped office on the third floor of the Administration Building to two small adjacent offices above the Police Computer Centre. By this time, the Credit Union had extended its bond to include Royal Bahamas. Defence Force Officers and Her Majesty's Prison Officers. Growth continued as evidenced in February 1994, when the Credit Union was again moved to a separate, more spacious, building just behind the Administration Building at Police Headquarters. By the middle of 1995, having further extended its bond to include spouses and children of members and civilian staff, the Credit Union recorded assets in excess of five million dollars ($5.0M) with more than one thousand four hundred (1400) members.