NAME OF FEATURE | THE GLEANER | THURSDAY, OCTOBER 31, 2024 1
NAME OF FEATURE | THE GLEANER | THURSDAY, OCTOBER 31, 2024 2 CREDIT UNION WEEK IN REVIEW FEATURE AS WE came together to celebrate National Credit Union Week 2024, we did so with a renewed sense of purpose and vision. This year’s theme, ‘One World Through Co-operative Finance’, served as a compelling reminder of the universal values that unite us in the Credit Union Movement: collaboration, equality, and the belief that together, we are stronger. In today’s interconnected world, financial cooperation is more crucial than ever. At a time in our history when the world appears increasingly divided, the Jamaica Credit Union Movement is dedicated to ensuring a safe future, promoting inclusivity and empowering individuals to attain financial independence. Credit unions are in the vanguard of these efforts, providing access to equitable financial services, promoting sustainable development, and helping those in need. The idea of cooperative finance surpasses mere financial transactions; it’s about fostering trust, nurturing relationships, and investing in people. Over the years our mantra has been ‘People Helping People’ and our current tagline is ‘My Credit Union, My Family/Fi Mi Credit Union, Fi Mi Family’. It’s about working hand-in-hand to build a world where no one is left behind. Our commitment to each other is what makes us resilient in the face of challenges and what will continue to guide us as we grow. As we celebrated National Credit Union Week, we took pride in the impact the Credit Union Movement has had on individuals, families, and communities across Jamaica and the world. Let us continue to champion the values that credit unions were founded on: people helping people, collaboration over competition, and a shared commitment to a brighter future for all. Thank you for being a part of this journey. Together, through cooperative finance, we are creating one world – stronger, more inclusive, and united. Your President ANDREA MESSAM JCCUL president lauds credit unions’ commitment to unity, inclusivity, and cooperativeness A moment of pure joy and devotion as the crowd lifts their hands in worship at the ‘Praise in the Park’ Gospel Concert. Carey Sayles, the phenomenal opener, wows the crowd with powerful praise and worship melodies at the Credit Union ‘Praise in the Park’. Annie-Kay Gray, Administrative Assistant at the NAJ & Health Services Co-operative Credit Union, swings into ICU Day ‘Praise in the Park’. Credit Union Week off to a great start as Robin Levy, JCCUL Group CEO, and Katrina Grant D’Aguilar, JCCUL Group Marketing & Communications Manager, join in the National Credit Union church service at the Mandeville New Testament Church of God. At the Kingston Technical High School, the credit union contingent rolls out to beautify the school and to make a difference, one brushstroke at a time. Daniel Lewis, 2024 Glen Francis (Credit Union) Tertiary Scholarship recipient, showcases a heart for service as he donates time to volunteer at the Kingston Technical High School community, even amid busy exam schedules. CUJ EDITORIAL Jamaica’s credit unions celebrate national week with festive spirit NATIONAL CREDIT Union Week, an annual event held during the third week of October, was celebrated this year from October 12-19. This celebration was filled with joy and highlighted the credit union’s commitment to the well-being of its members and the betterment of our communities. The Credit Unions of Jamaica honoured this special week with a variety of national-level activities. These activities included an outreach programme at Kingston Technical High School, a national church service at the Mandeville New Testament Church of God, and a free gospel concert at Emancipation Park on International Credit Union Day, October 17.
NAME OF FEATURE | THE GLEANER | THURSDAY, OCTOBER 31, 2024 3 CREDIT UNION WEEK IN REVIEW FEATURE Credit Union staff volunteers hit the stage and share the mic for the last song of the night. The Mixed Credit Union Choir blesses the congregation with their soulful singing of ‘I Never Lost My Praise’ at the National Credit Union Church Service. Hats off to the credit unions’ future leaders of the NexGeneration Change makers for lending a hand applying a fresh coat of paint to the Kingston Technical High School. Kevin Downswell, the prayer warrior and worship leader, set Emancipation Park ablaze with his powerful performance at the ‘Praise in the Park’ Gospel Concert on October 17. Johnmark Wiggan electrifies the crowd, causing them to jump from their seats, imbued with holy rhythm. United in faith, the Credit Union staff and volunteers come together for the National Credit Union Week Church service at the Mandeville New Testament Church of God.
NAME OF FEATURE | THE GLEANER | THURSDAY, OCTOBER 31, 2024 4 CREDIT UNION WEEK IN REVIEW FEATURE THE CUNA Caribbean Insurance team celebrated Credit Union Week with credit unions and their members across the island. Here’s a look at some memorable moments of appreciation shared with the community. CUNA Caribbean Insurance remains committed to providing financial security FOR ALL PEOPLE. CUNA Caribbean celebrates Credit Union Week Georgia Morrison, Assistant Vice President of Sales at Cuna Caribbean Insurance Jamaica, adds to the fun and excitement of Credit Union ‘Praise in the Park’ with a luxurious basket handed to a lucky member of the crowd. Cuna staff member, Abigale Scott, celebrates Credit Union Week at IECCU with the credit union’s member. Tesia Douglas, Sales Associate at Cuna Caribbean Insurance Jamaica, snaps a photo with the NAJ & Health Services Co-operative Credit Union staff and members as they celebrate National Credit Union Week. Soup Kitchen sponsored by Cuna Caribbean Insurance Jamaica, supplies hot soup to the crowd at Credit Union ‘Praise in the Park’, perfect for the chilly temperature.
NAME OF FEATURE | THE GLEANER | THURSDAY, OCTOBER 31, 2024 5 CREDIT UNION WEEK IN REVIEW FEATURE AS WE celebrated Credit Union Week under the theme ‘One World Through Cooperative Finance’, it was important to acknowledge the power and potential each of you brought to our significant and growing movement. Credit unions of Jamaica thrived because of our commitment to Principle 6 of the Universal Co-operative Principles – cooperation among co-operatives – and you, as NexGen leaders, played a vital role in advancing that mission. Your ideas, energy, and passion kept our credit union strong and innovative. We encourage you to remain engaged, continue learning, and take advantage of opportunities to make a meaningful impact in your communities. Together, we can create a brighter future grounded in cooperation, financial literacy, and empowerment. You are the future, and we, the executives, look forward to seeing the amazing things you will accomplish. CLEON CADOGAN NeXGen Change makers President NexGen president recognises the contributions of NexGen leaders THE MANCHESTER Co-operative Credit Union (1977) Limited (MCCU) celebrated Credit Union Week from October 13-19, under the theme, ‘One World Through Co-operative Finance’. The week of activities got under way with the National Church Service which it jointly hosted with the Jamaica Co-operative Credit Union League at the Mandeville New Testament Church of God on Sunday, October 13. The worship service was supported by credit union members from across the island, along with other dignitaries. On Monday, October 14, MCCU’s Soup and Soap Outreach Project was then held at the Curphey Home in Newport, Manchester, in which food and toiletry items were handed over to the staff and residents of the home, they were truly grateful for the gesture. On Tuesday, October 15, the MCCU team shifted gears and visited the communities of Alligator Manchester Co-op Credit Union celebrates Credit Union Week 2024 Kerrene Grant Brown (MCCU General Manager) did the scripture reading at the National Church Service. PLEASE SEE MCCU, 7 Business Development Officer, Terry-Ann Powell-Johnson (right), poses with a member of the Christiana branch during their Member Appreciation Day.
NAME OF FEATURE | THE GLEANER | THURSDAY, OCTOBER 31, 2024 6 CREDIT UNION WEEK IN REVIEW FEATURE FHC CREDIT Union proudly participated in International Credit Union Day on Thursday, October 17, joining cooperatives around the globe to celebrate under the 2024 theme, ‘One World Through Cooperative Finance’. The festivities underscored the credit union’s commitment to enhancing its members’ lives by providing meaningful support throughout their financial journeys. Members were treated to tokens of appreciation, health check-ups, refreshments, and a variety of engaging activities, all designed to promote financial well-being and foster a strong sense of community. The day’s activity strongly highlighted the essential role members play in the organisation’s success. FHC Credit Union has long been a trusted partner, assisting individuals in achieving various financial goals, from saving for their dream home to ensuring comfortable retirement. The celebrations reinforced the notion that, akin to the roots of a tree that offer stability and nourishment, members form the foundation of FHC Credit Union. As the day progressed, the collective strength and commitment of the credit union movement were distinctly at the forefront of the celebration. FHC Credit Union treats members on International Credit Union Day Long-standing member cutting the celebration cake at Portmore branch during Member Appreciation Day on International Credit Union Day, with Branch Manager Tania Oglesby (centre) and other members looking on. A nurse carefully administers a blood pressure check to a member of the FHC Old Harbour branch during Member Appreciation Day. Syfona Wilson (left), FHC Credit Union Eureka Branch Representative, shares a warm moment, presenting a token to a valued member on International Credit Union Day. FHC Credit Union’s Branch Manager Aljay Cole presents a token to a member of the St Thomas branch on International Credit Union Day, October 17.
NAME OF FEATURE | THE GLEANER | THURSDAY, OCTOBER 31, 2024 7 CREDIT UNION WEEK IN REVIEW FEATURE Pond and New Forest where they hosted a ‘Pop-up Shop’. The Pop-up Shop included visits and presentations to the stakeholders at the New Forest Primary School and the Alligator Pond Primary School. On Wednesday, October 16, and Thursday, October 17, the credit union hosted its Members’ Appreciation Days at its Christiana and Mandeville branches, respectively. The appreciation days involved member-booth exhibitor interactions, free health checks, refreshments and souvenir items. During the week of celebrations, CUNA Caribbean Insurance Jamaica Ltd, Jamaica Co-operatives Insurance Agency Ltd, Isratech Jamaica Limited and the Southern Regional Health Authority were the associate partners. The Manchester Co-operative Credit Union family wants to send a big thank you to its members and partners for making this another memorable experience for everyone. Avagaye Wilson (Business Development Officer) and Michael Gottshalk (MCCU Marketing Manager) address the audience at the Alligator Pond Primary School. From left: Hermine Morrison (Curphey Home Manager), Christopher Campbell (MCCU Director), a Curphey Home Resident and Michael Gottshalk (MCCU Marketing Manager), pose for the handing over of Toiletries and Personal Care items. MCCU CONTINUED FROM 5 Marketing Officer Kimblee Elliott (left) poses with a member of the Mandeville branch during their Member Appreciation Day.
NAME OF FEATURE | THE GLEANER | THURSDAY, OCTOBER 31, 2024 8 CREDIT UNION WEEK IN REVIEW FEATURE THE WORLD Council of Credit Unions has selected the theme, ‘One World Through Co-operative Finance’ for International Credit Union Day on Thursday, October 17. This theme resonates deeply, not just for countries and communities globally, but for members of the Insurance Employees Co-operative Credit Union (IECCU). It highlights the importance of collective financial action in addressing both societal and personal economic challenges. For the IECCU, this theme reflects its longstanding commitment to building financial security and independence for its members through cooperative principles. Since its founding in 1977, IECCU has consistently promoted the idea that financial institutions can be successful by prioritising the collective well-being of their members. The concept of ‘One World Through Co-operative Finance’ also represents the potential for creating a fairer global economy. In a world where access to financial resources is often unequal, cooperative finance offers an alternative. It levels the playing field by creating opportunities for those who might otherwise be excluded from traditional financial systems. This means that someone in a rural community or an underbanked urban area can still access affordable loans, savings plans, and credit services through cooperatives. IECCU offers a wide range of services, including savings accounts, loans, and credit counselling, with a particular focus on wealth creation. One notable initiative is the Golden Harvest Savings Plan, tailored to help members achieve long-term financial goals, such as homeownership or funding education. This plan also includes insurance coverage, ensuring that savings are protected in the event of death or disability. Such programmes are critical in reducing the wealth gap by empowering individuals to save, invest, and build wealth, regardless of their starting point. As financial uncertainty looms in various parts of the world, the cooperative model stands as a beacon for self-improvement and empowerment. The credit unions of Jamaica continue to prove that by allowing communities to not only survive but also thrive in an increasingly connected global economy. In this sense, the theme of ‘One World Through Co-operative Finance’ is not just a vision for the future but a reality that credit unions like IECCU are actively building today. ‘One World Through Co-operative Finance’ – IECCU’s vision in building economic equity Kamisha Wint, Marketing Officer, Insurance Employees Co-operative Credit Union EDUCOM COOPERATIVE Credit Union participated in the celebration of Credit Union Week, which was observed during October 13-19, 2024. Members of the team participated in a beautification exercise at the Kingston Technical High School on Saturday, October 12, as part of the national outreach initiative organised by the Credit Unions of Jamaica. On Wednesday, October 16, the team hosted a virtual Member Engagement Forum in keeping with our mandate to better equip our members with adequate financial knowledge of our products and services. On International Credit Union Day, EduCom members at all nine branches were treated to exciting activities and prizes; while at the Oxford Terrace, Spanish Town, Linstead and UWI (Mona) branches, our members benefitted from health screenings provided by medical personnel on location. EduCom celebrates its members Stacey-Ann Porter-Davis (l), Business Development Leader for the UWI (Mona) branch, presents a token to a member during a visit to the branch on Members’ Appreciation Day. Gabrielle Owens, Business Development Leader, Oxford Terrace Branch, engages with a member during an activity on the day. Ms Donna Grant (left), a Registered Nurse, conducts health screening tests on a member at the Linstead branch on International Credit Union Day, October 17, 2024. It was all smiles as a member from our Spanish Town branch performed for the members present during a karaoke session on Credit Union Day.
NAME OF FEATURE | THE GLEANER | THURSDAY, OCTOBER 31, 2024 9 CREDIT UNION WEEK IN REVIEW FEATURE AS WE highlight the activities during the annual Credit Union Week, we are reminded of the transformative power of cooperative finance in bridging gaps and fostering unity. The theme, ‘One World through Cooperative Finance’, resonates deeply, highlighting the potential for financial cooperation, breaking down barriers and creating a more equitable world. Lascelles & Partners Co-Operative Credit Union’s (LEPCCU) Credit Union Week itinerary was launched at the Emmanuel Apostolic Church, Portmore, on Sunday, October 13. This year’s celebration evoked ‘sunny smiles’ in a rainy season. The calendar featured ‘Partner Meet and Greet’ with members in Kingston, St Catherine and Montego Bay. As a vibrant united force, the LEPCCU team made trips to various partners companies to include J. Wray & Nephew Ltd, Serge Island Dairies, Iron Rock, CamCorp, Select Brands, Poly-Pet, Menzies AJAS, Cari-Med, Guardian Group Limited, among others. Staff at these companies were treated with engagement activities and cake distribution. Education institutions in Kingston also benefited – students at Seaview Gardens Primary were sensitised with financial literacy videos, talent showcase and a donation of educational items. Pembroke Hall High was the recipient of the LEPCCU Tree Planting Initiative. Fruit trees, namely: ackee, apple, java plum, seagrape and foxtail plants were donated to support the school’s Beautification Project. The Forestry Department of Jamaica also supported the initiative by conducting a planting mockup with the students. The annual International Credit Union Day is a global event, celebrating the homecoming and history of credit unions as a united force, bringing together people from all walks of life to share in the festivities. On Thursday, October 17, members and visitors were treated to a Red Carpet Value Walk at the credit union’s head office, located at 234 Spanish Town Road. Media house Sun City Radio 104.9 FM promoted the offerings across the island and a live on social media. Participating vendors displayed their products and services. These included Kingston Industrial Garage, CRIF Information Bureau, Jamaica CoOperative Insurance Agency, FirstCare Jamaica, Farmers Market and Sherine’s Haberdashery. Members were offered a promotional ‘No Fee’ day to transact with peace of mind. Another highlight featured LEPCCU President Mr Owen Dillon, General Manager Ms Michelle Ambersley and committee members creating a vibe as they sliced the celebratory branded cake with members in anticipation of a piece of the “memory bite”. The cooperative finance model permeated every aspect of the week’s activities, strangers became friends, stakeholders reconnected, local entrepreneurs showcased their wares and the community’s resilience and strength were in full motion. As we look towards the future, the commitment of cooperative unity will boost membership loyalty, foster community development and ultimate economic growth. LEPCCU ... ‘The Friendly Financial Institution of Choice’ Please see photos of our Credit Union Week activities. Lascelles & Partners Co-Operative Credit Union celebrating with unity and empowering communities Pink Day Financial Literacy Tree Planting Initiative
NAME OF FEATURE | THE GLEANER | THURSDAY, OCTOBER 31, 2024 10 CREDIT UNION WEEK IN REVIEW FEATURE SEE PHOTOS from activities during Credit Union Week, celebrated October 13-18. Portland Co-operative Credit Union celebrates National Credit Union Week Staff and Volunteers from the Portland Credit Union started the week in church at the New Testament Assembly Church in Port Antonio. Marketing Manager Anthony Morrison goes live on Stylz FM to promote the international Credit Union Week activities. General Manager Martin Blackwood presents Principal of Bethesda Basic School Ann-Maire Baugh three fans for the school on ICU Day. A team from the Portland Credit Union visited the Portland Infirmary as part of their Soup and Soap project. Marketing Manager Anthony Morrison goes live on Stylz FM to promote the international Credit Union Week activities. General Manager Martin Blackwood performing for members on Appreciation Day.
NAME OF FEATURE | THE GLEANER | THURSDAY, OCTOBER 31, 2024 11 CREDIT UNION WEEK IN REVIEW FEATURE THE NATIONAL and Community Cooperative Credit Union (NCCCU) celebrated Credit Union Week from October 13-18 with various activities aimed at engaging members and giving back to the community. SOCIAL MEDIA (OCTOBER 13-15) The week kicked off with social media trivia on Facebook and Instagram, where members were quizzed on fun facts about NCCCU. The interactive event saw several members winning supermarket vouchers, day pass at a resort and other prizes. MCLEOD BASIC SCHOOL DONATION (OCTOBER 16) On Wednesday, October 16, NCCCU employees visited McLeod Basic School in Gordon Town, making a charitable donation of a microwave and essential toiletries. The school’s principal, Mrs Joy Scarlett, expressed her deep gratitude and encouraged continued support for the school. INTERNATIONAL CREDIT UNION DAY & HEALTH FAIR (OCTOBER 17) Thursday, October 17, marked International Credit Union Day. The day began with a motivational presentation by Gaynel Watson, a John Maxwell certified coach, focusing on ‘Communication as a Tool of Co-operation’. Health services, including blood pressure and blood sugar checks, and weight monitoring were offered, along with scalp analysis by a trichologist. Refreshments were provided for all attendees. Our Cuna Caribbean Jamaica representative was also available. She spoke to members about the Family Indemnity Plan (FIP), Critical Illness Rider, and Family Critical Illness Plan. The updated products intrigued members, leading several to sign up for new plans or upgrade existing ones. CANCER AWARENESS (OCTOBER 18) On Friday, October 18, NCCCU staff dressed in pink in support of Breast Cancer Awareness Month, closing the week with a show of solidarity. CONCLUSION The week successfully engaged members and strengthened their bond with the credit union, showcasing NCCCU’s commitment to its members’ financial and personal well-being. National & Community Co-Operative Credit Union Week member experience Karl Richmond, Tricologist, with Credit Manager Patricia Williams Coore. Refreshment served to members. Principal, Mrs Joy Scarlett, McLeod Basic School, and Staff receiving gifts from NCCU. Janice Grossett getting her blood pressure checked.
NAME OF FEATURE | THE GLEANER | THURSDAY, OCTOBER 31, 2024 12 CREDIT UNION WEEK IN REVIEW FEATURE THE PUBLIC Sector Employees Co-operative Credit Union (PSECCU) recently demonstrated its commitment to its members by hosting a Member Appreciation Day across all its branches in celebration of Credit Union Week. The event, which took place simultaneously at branches in Kingston, Portmore, St Mary, Mandeville, and Montego Bay, was a vibrant display of gratitude for our members. At each branch, members were feted with an array of delectable food and beverages. Free health checks were offered at some branches, allowing members to check on their health while enjoying the day’s festivities. The atmosphere at each branch was lively, as the day was filled with exciting giveaways and prizes that kept members engaged and entertained. The giveaways ranged from supermarket and meal vouchers to other branded items. The celebration did not end at the branch level. The head office in Kingston took the day’s events to another level by hosting a special after-work lyme and karaoke session for members and staff. This event provided a relaxed and fun atmosphere for our members to unwind. The after-work lyme also served as a fitting end to Credit Union Week, bringing the curtains down on the week-long celebrations in style. The entire day’s events emphasised the importance of the relationship between the credit union and its members, showcasing PSECCU’s commitment to going beyond just financial services and focusing on creating a meaningful, lasting connection with its membership base. PSECCU’s Member Appreciation Day was a resounding success, as it highlighted our dedication to the members we serve. The event reinforced the idea that credit unions, unlike traditional financial institutions, thrive on the principles of cooperation, community, and care for members. For the Public Sector Employees Co-operative Credit Union, this day of celebration and gratitude was yet another opportunity to show our members that they are truly at the heart of everything we do. Please see photos of the week’s activities with our staff and members. Public Sector Employees Co-op Credit Union Ltd celebrates its members with Member Appreciation Day across branches
NAME OF FEATURE | THE GLEANER | THURSDAY, OCTOBER 31, 2024 13 CREDIT UNION WEEK IN REVIEW FEATURE GRACE COOPERATIVE Credit Union exemplified the spirit of community and generosity during Credit Union Week by engaging its members and giving back to those in need. This annual celebration, dedicated to promoting the credit union movement, was marked by a series of thoughtful activities designed to foster connection and goodwill among members and the wider community. On Credit Union Day, Grace Cooperative Credit Union welcomed all its members with a delightful treat: complimentary cake, refreshments, and tokens. This gesture was more than just a celebration; it represented the credit union’s commitment to appreciating its members. By providing a welcoming atmosphere, Grace Cooperative Credit Union encouraged a sense of belonging and community, highlighting its core values of service and member-centricity. The day’s activity served as a reminder of the cooperative spirit that defines credit unions, where members are more than just customers; they are part of a larger family. To further engage members, the credit union organised a series of trivia questions. This interactive component not only offered members a chance to win exciting prizes but also educated them about the credit union’s history and the products and services that are offered. By hosting Trivia Time, it fostered a sense of camaraderie and friendly competition, encouraging members to participate actively while having fun. The prizes and surprises were a delightful incentive, showcasing the credit union’s appreciation for its members’involvement and loyalty. As the week came to a close, the credit union made a meaningful impact by visiting the children at Bethlehem Children’s Home. This visit underscored the credit union’s commitment to social responsibility and community service. The staff engaged with the children by spending quality time playing games and participating in activities that brought joy and laughter. In addition to the fun-filled activities, Grace Cooperative Credit Union made donations to Bethlehem Children’s Home, further extending its support. These contributions not only provided essential resources for the children but also demonstrated the credit union’s dedication to fostering a nurturing environment for vulnerable youth. The initiatives taken during the week illustrate the theme, ‘One World Through Cooperative Finance’. The initiatives taken serve as a reminder that financial institutions can play a vital role in promoting social welfare while simultaneously strengthening relationships with their members. By celebrating Credit Union Week through acts of kindness and generosity, Grace Cooperative Credit Union has not only enriched the lives of its members but also made a lasting impact on the community. The credit union has demonstrated that it is more than a financial institution; it is a pillar of support and compassion. As we continue to uphold our core values, we strive to be an example of how credit unions can be a force for good, fostering a spirit of cooperation, kindness, and shared success. Celebrating community: Grace Cooperative Credit Union’s commitment during Credit Union Week 2024 From left to right: Asia (Bethlehem Home Resident), Father Peram, Brother Gudbin and Grace Co-op Staff Members: Shanna Coley (Accountant), Shadae Cooke (Loan Officer), Janielle Stewart (Senior Loan Officer), Brittany Williams (Risk and Compliance Officer), Kayla Francis (Loan Officer), Kellici-Ann McLean (Accounting Clerk), Romario Brown (Accounting Officer) and Camille Cadogan (Acting General Manager). Member Appreciation Stand on International Credit Union Day 2024. Picture of one of Grace Co-op Credit Union’s longstanding members Kimar Findlater (left) and Staff Member Kellici-Ann McLean (right). THE PWD Co-operative Credit Union Limited, under the theme for 2024: ‘One World Through Co-operative Finance’, staged a webinar on October 14, on ‘Building Wealth’. The presenter for the evening was Mr Maurice Wright, chief investment officer at Cumax Wealth Management Limited, a subsidiary of the Jamaica Co-operative Credit Union League (JCCUL). The session covered a wide range of products and services, which included the following areas: - Stock market - Bond market (US dollar Jamaican dollars) - Treasury bills - Repurchase agreements - CIS – mutual funds Mr Wright provided an in-depth analysis of each topic, outlining the principles, methodologies and strategies that make trading in stocks very simple. The virtual audience was very excited as this raised the likelihood of making profitable trades. BOND MARKET (J$/US$) The bond market was another area the members showed an interest in. The presenter explained the differences between Jamaican and US dollars in the bond market. The members showed a preference for the US-dollar bond market. TREASURY BILL (LOW RISK) A treasury bill is a short-term financial instrument issued by the Government. These are backed by a country’s own treasury; they are considered a low-risk investment, and the investor runs very little chance of losing money. These bills are issued by the Bank of Jamaica (BOJ) to raise money for the Jamaican Government. REPURCHASE AGREEMENTS A repurchase agreement means a financial agreement in which a dealer of securities transfers ownership of securities to another person or creates a beneficial interest (whether whole or fractional) in securities in favour of another person. CIS MUTUAL FUNDS The main activity of collective investment schemes consists of collecting funds and issuing securities to various agents (private individuals, companies, etc) with a view to acquiring financial assets. The goal of the webinar was to simplify the intricate definitions and terminologies that make investment seem less complicated. The presenter did an excellent job of this and provided specific examples so that the members were very comfortable when answering the various questions. He encouraged the members to build their financial portfolios and stressed the importance of diversification based on their ages in the financial life cycle. There was a ‘Question and Answer’ section. In recognition of their participation, Business and Development Officer Mr Rupert Moore posed questions to the virtual audience, and the winners were Iolyn Donald, Samira Christian, Leonie Ritchie-Anderson, Audrey Gentles, and Stephanie Isaacs. CONCLUSION Overall, the members were extremely proud of their credit union for having such a webinar on ‘Building Wealth’, which is most timely and appropriate. Throughout the week, we continued to emphasise the importance of educating the members and empowering them to accumulate long-term wealth through financial literacy. The membership, in support of their credit union, has requested that the webinar be repeated in the near future. PWD Co-operative Credit Union celebrates Credit Union Week Mr Rupert Moore, Business Development Officer at PWD Co-operative Credit Union Limited, presents a special prize to Iolyn Donald, Director of Human Resource at the Ministry of Education and Youth, (from left to right), who participated in the webinar. Looking on is Ms Shana-Kaye Hylton, Administrator for Human Resource Management and Development.
NAME OF FEATURE | THE GLEANER | THURSDAY, OCTOBER 31, 2024 14 CREDIT UNION WEEK IN REVIEW FEATURE DURING CREDIT Union Week 2024, the JPS & Partners Cooperative Credit Union Limited family engaged in a number of events to ensure that members feel loved and appreciated for their valuable membership. Activities included attendance to the Credit Unions of Jamaica church service, social media competitions, member appreciation at all branches, special product features, visits and donations to partner schools, and a webinar on The Credit Union Gold Series. The week of activities sought to encapsulate the theme for this year’s International Credit Union Movement, ‘One World Through Cooperative Finance’, indicating the unity and warmth that credit unions bring as we put people over profit. Please see highlights of this year’s membership appreciation activities. JPS & Partners Credit Union celebrates members during Credit Union Week Students from St. Mary the Virgin Basic are all smiles as they accept their donation during Credit Union Week. Supporters include Sueann Hartley (Marketing Officer) and Andrea Maxwell (Principal, St Mary the Virgin Basic). JPS & Partners CU Team Members support the National Church Service. From left to right: Beverley Allen, Janet HolnessWilliams, Marie Young-McNamee (Acting Branch Manager, Kirkvine), Camille Archibald (Business Development Manager), and Kenesha Sinclair. Acting General Manager (left), Chad La Ronde, and Director Paulstan Francis (right), cut the cake with members at the Head Office Member Appreciation Day.
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