How it all began
THE NCB Employees Cooperative Credit Union (NCBECCU) was established on April 2, 1992, and was formally registered on August 17, 1992. As early as May 1992, it was proposed by the Registrar of Co-operatives and Friendly Societies that the credit union membership bond should include employees of all banks. Motivated and encouraged by the grand possibilities a credit union could create for its members – Messrs Norman Vickers and Orville Johnson made a bold request to the management of the National Commercial Bank Jamaica Limited to establish a credit union for the staff of the institution. Staff members were very excited and elated that the request was accepted by the management team. Irene Hughes, the first credit union manager, began making the necessary preparations to commence the NCBECCU.
THE INAUGURAL GENERAL MEETING
Its inaugural general meeting was held on October 10, 1992. The starting share capital was $398,000, while the membership was approximately 550. Glenworth Francis, general manager of the Jamaica Co-operative Credit Union League, welcomed the credit union to the family of credit unions, which numbered 60 million members worldwide at the time.
Francis continued to outline the roles and purpose of the Jamaica Co-operative Credit Union League (JCCUL), which was established by credit unions to provide services and to promote the development of credit unions. It is interesting to note that the membership approved a resolution for the credit union to become a member of the JCCUL at its inaugural general meeting.
Subsequently, the NCBECCU not only embraced employees of banks, but the wider financial institutions. This resolution was approved by the membership in 2007.