Adhering to our long-term strategy

IT IS a privilege to serve as the president of the board of directors of First Regional Co-operative Credit Union Limited. In a low interest rate market, First Regional has had to remain focused, agile and adapt to change in the short-term while adhering to our long-term strategy to responsibly grow the credit union. It is, therefore, a great pleasure to celebrate the opening of the Kingston branch, the twelfth member of our branch network.

First Regional has been one of Jamaica’s leading credit unions, evidenced by the numerous awards we have won over the years. Our success as a financial co-operative is not taken lightly, as it has been forged through hard work, paying attention to details, and staying true to our purpose. Success is not only measured in posting great financial results over the years; it is also evident in the efforts at doing our best to achieve success for all our stakeholders and in creating products and services that add value to their lives. Success is also measured in the work we do to strengthen and invest in the local economies in the areas that we serve, and also our efforts to ensure that First Regional is a great place to work.

The successes of our credit union over the years have been achieved through laser focus on our strategic growth objectives and aligning them to those of our members. It is also partly due to the legacy of strong visionary leadership from our founders, who charted a vision for growth and development to help the credit union achieve its corporate objectives.

BEING TRUE

Practising responsible growth is inextricably linked to our delivering strong, consistent and high-quality results without compromising our standards of operations and service. It is also linked to being true to our purpose and values of growing with our members, and always being there to help them achieve their financial goals. It is about trust; trust in how we do business and how we deliver to our members, and our employees, the values that are promised and that are important. Our ability to grow the credit union and do so responsibly is constantly being challenged by external impacts from changes in the market due to political and economic factors that we cannot predict, but we commit to be agile and adaptive while remaining true to the principles that have contributed to our success over the years.

Our vision for First Regional is to build a strong institution that outlasts our longest memories. This involves continuing to expand based on the mandate of our footprints across Jamaica and the world, just as we have done with our Kingston branch, our newest branch, in order to meet the needs of our members using the most effective delivery channels and technology. We continue to upgrade our technology to drive the strategic needs of our operations and to help us maximise our comparative advantages.

It therefore requires that our growth be not just responsible, but sustainable, and so we commit to maintaining operational success/excellence and to improving the credit union for future capabilities, making it a better place to serve our members. Corporate governance is also key to sustainable growth and we endeavour to continue to incorporate strong rigorous corporate governance at all levels of the organisation.

HARD-WORKING VOLUNTEERS

First Regional’s success is the result of hard work and effort of many volunteers; for some of whom we retain fond memories. We salute the many volunteers over the years who dedicated their time and worked tirelessly to ensure that the credit union achieved its targets. To the present volunteers of the board, Credit and Supervisory Committees, I say thank you for your unswerving support as we build an institution dedicated to good works. I thank the chief executive officer, Patricia Smith, and the management team for their commitment to maintaining our culture of being a safe, solid and sound institution, and to the team members who worked hard and demonstrated great dedication. Importantly, I thank our valued and loyal members for their unwavering support and trust in making First Regional their financial institution of choice. We promise that we will continue to invest in our business, our people and communities because when they succeed, Jamaica succeeds.

According to Pele, “Success is no accident. It is hard work, perseverance, learning, studying and most of all, love of what you are doing or learning to do.” This quote exemplifies our combined efforts at First Regional. We love what we do; we work hard to achieve the positive financial metrics we have had over the years; we enjoy seeing the lives of our members positively impacted and dedicate ourselves to continue to build on the successes of the past as we pursue our purpose of improving the lives of people and build better communities.

KAREN SANGSTER-GRANT

President, Board of Directors

First Regional Co-operative

Credit Union Limited