Credit union helping improve living standards of many

THE CREDIT union movement has come a far way since its launch in 1949, when it embraced all existing credit union bodies and provided the essential guidance to strengthen their membershipbase through training and sharing of best practices in management and operations.

This people-powered financial movement came at the most opportune time to offer an array of options to empower ordinary citizens, many of whom, unfortunately, had been shut out of the formal banking sector for one reason or another.

Prompted by the good that a credit union can

do for just about any group of individuals, the idea was warmly received to establish NCB Employees Co-operative Credit Union Limited in May 1992.

The NCB Employees Cooperative Credit Union (NCBECCU) has played an important role for its members over the past 25 years. It has enabled many of its members, and indeed, Jamaicans on a whole to realise lifelong dreams, achieve remarkable professional advancement, and has allowed many to blaze a path to establishing businesses of their own and improve their living standards.

Credit unions exemplify people power, which is supported by a measure of faith in the collective and pooling of resources to ensure personal and professional development.

The credit union movement, of which NCBECCU is a part, has assisted many to navigate the challenging circumstances of living in a society which faces difficult choices because of limited resources, coupled with serious issues of governance. However, the best practices from our credit union experience ought to inform our choices going forward. Of critical importance is the reliance on the combined energies, resources and aspirations of our people in solving our own problems.

I take this opportunity to salute the credit union movement and wish the NCB Employees Co-operative Credit Union Limited all the best as you celebrate 25 years of service to your membership. PETER D. PHILLIPS, MP Leader of the Opposition