The Red House and Neighboring Department Credit Union Cooperative Society Limited was borne out of three study groups that met to study the History and Theory of the co-operative movement:
i) the Land and Surveys Department,
ii) the Registrar's General Department and
iii) the Health Department.
These study groups saved money for the day when the Credit Union Societies Ordinance would be proclaimed in Trinidad and Tobago.
The Credit Union Societies Ordinance, #48 was passed and signed by the Clerk of the Council Mr. W. J. Boos on December 21st 1945 and assented by then Governor His Excellency Mr. B. E. H. Clifford on 27th December 1945. This legislation provided for the regulation, control, and supervision of credit unions.