Origins of the Credit Union

St. Francis Xavier Credit Union Ltd. was originally founded in 1947 by Rev. Henry Suttie S.J., but it remained small and financially fragile until its revitalization in December 1979 under the leadership of Fr. James Walsh S.J., marking the start of its sustained growth.

Branch Establishment and Growth

  • The Sarteneja Branch was officially inaugurated on Saturday, May 1st, 1999, and opened its doors for business on Monday, May 3rd, 1999.
  • By 2013 a new two story building was completed in the Sarteneja enhancing the branch’s infrastructure significantly and better served the members and their

financial needs.

  • In its early years, all business transactions were performed manually—a process that continued for the first four years of operation.
  • A major milestone was reached on January 2nd, 2000, with the hiring of the branch’s first Branch Manager, followed shortly by a Customer Service Clerk, which introduced a five-day workweek and significantly enhanced service
  • As part of its ongoing commitment to service excellence, the branch fully transitioned from manual operations to modern digital systems and technology, allowing for faster, more accurate, and efficient member service.
  • Over the years, the Sarteneja Branch expanded its team to seven staff members, all dedicated to providing high-quality and member-focused service.
  • The branch Growth the Sarteneja Branch now proudly serves approximately 2,055 members, with a loan portfolio of around $5.2 million, distributed among 453 borrowing members and total assets of $6,968,850.97 at end of July,25.
  • The Sarteneja Branch remains one of the longest-serving financial institutions in the village and continues to be a trusted partner in financial empowerment for the
  • The branch is also equipped with an ATM machine to provide 24 hrs cash access to the community both members and non-members.

Timeline

Founding and reorganization of SFXCU

1947-1979

Sarteneja Branch inaugurated and opened

1999

First Branch Manager hired; 5-day workweek began

2000

Transition from manual to digital operations began

2003

New two-story building completed

2013

5,334 in membership & $20.3M in assets

2024-2025

Looking Ahead

The Sarteneja Branch of SFXCU stands as a strong pillar in the community, serving not only as a financial institution but also as a partner in personal and community development. With a growing membership and a dedicated team, the branch continues to uphold its mission of service, trust, and financial empowerment for the people of this coastal fishing community and surrounding villages.

Sarteneja Branch Address and Contact Information

Opening Hours

  • Monday 08.00 AM - 03.00 PM
  • Tuesday 08.00 AM - 03.00 PM
  • Wednesday 08.00 AM - 03.00 PM
  • Thursday 08.00 AM - 03.00 PM
  • Friday 08.00 AM - 04.00 PM