A LEGACY OF TRANSFORMATION
FHC securing financial futures
ON AUGUST 1, 2012, Churches Co-operative Credit Union and GSB Co-operative Credit Union merged to form the new entity First Heritage Co-operative Credit Union Limited (FHC). The historic merger, a first of its kind in the history of the Credit Union movement, laid significant groundwork for the expansion of welfare services for members, employees and communities.
With a combined legacy of over 100 years, First Heritage Co-operative Credit Union Limited became the largest open bond Credit Union in Jamaica. FHC currently serves over 200,000 members through a network of 11 locations island-wide, offering a wide array of products and services including; Savings, Loans, Cambio, Insurance, Estate Planning and Management.
Undoubtedly, the FHC Credit Union has over the years managed to accomplish many noteworthy milestones. In tandem with our 10th Anniversary Celebrations, FHC has upgraded its core banking system to create greater efficiencies and accessibility for our members, which acts as a precursor to our digital transformation journey. We are also slated to complete construction of our premier Branch in St. Thomas late this year and have become the first Credit Union to offer a Starter Membership tier for the young adult and underbanked sector.
OUR BOND
Keeping a real-time pulse on the evolving socio-economic landscape; FHC has remained committed to generating continual benefits to meet the needs of Jamaicans including staff within Statutory Bodies and Public Corporations, Civil Servants along with other professional groups; members of churches, members of the agro and micro business industry and their spouses and relatives who live, work and do business across the 14 parishes.
Hand-in-hand with this ethos, we specifically designed products and services that provide practical, thoughtful and valuebased solutions for our members at every stage of their lives — whether they are just starting out or are financially savvy and investment-oriented.
We are proud that over the years our Supreme Saver, Earner Plus and Heritage Club Savings programmes have allowed members of various ages to meet personal and professional goals, backed by the convenience and flexibility of Internet and Tele-banking.
Our senior citizens have dedicated substantial years of their lives in securing their future and that of the next generation; our Heritage Club savings plan has ensured that they are not left behind.
For a decade FHC has made significant strides in tailoring our Secured; Unsecured; Personal; Business and Education loans to give members that added financial capacity to fulfil their dreams of buying a car, completing home repairs, starting a business or educational advancement at their own pace.
The growth of our loans to support micro, small & medium businesses stands as a testament to the security and stability we have provided to our astute and loyal clientele.
MICRO, SMALL & MEDIUM BUSINESS UNIT
The FHC also supports our members by providing financing for their business aspirations. Our secured and unsecured loans, offer up to $500,000 to members who want to expand or start their micro or small businesses.
Through our Micro, Small & Medium Business Unit, we also offer loan facilities to support the growth and development of larger, more established micro small and medium enterprises (MSMES) of up to J$50 Million; and in partnership with the Development Bank of Jamaica, also provide loans for members of the Transportation, Entertainment, Agro-business and Construction and Development Sectors.
FHC INVESTMENTS
As the only Credit Union with an investment subsidiary, FHC is the first individual Credit Union, to acquire a Member-dealer Licence from the Jamaica Stock Exchange. This has enabled the subsidiary, FHC Investments Limited (FHCIL), to offer stock brokerage services along with other investment solutions.
The significance of the stock brokerage offering is not lost on our team — we are elated at the possibilities for Jamaicans who are now able to purchase and sell securities listed on both the main and junior Markets of the Jamaica Stock Exchange. Furthermore, new and existing clients will be better able to diversify their portfolios through access to a wider range of investment assets.
PENSIONS
Helping clients to attain financial health and success comes first. We understand that when it comes to retirement planning, there is no ‘one size fits all’ solution. FHC Investments, operates an Individual Retirement Scheme with our signature product, Pension Gold which allows individuals the opportunity to select from a portfolio of assets based on their risk tolerance.
Our Individual Retirement Scheme, Pension Fund Management and Pension Fund Administration services are uniquely designed to help members reach their retirement goals.
OUR TEAM
The FHC Team, led by Chief Executive Officer Roxann Linton, is inspired by the diverse members who seek support to achieve their financial goals. The collective wealth of knowledge and experience from our team provides members with a solutions-based approach to our service delivery. Innovations in product offerings and processes continually seek to improve convenience to our clientele.
Our Board of Directors oversees our corporate governance and ensures a progressive and agile response to internal and external stimuli. This creates a safe financial environment for members as our Executive Team provides visionary leadership. Our
Branch Managers engage with communities across the 14 parishes, empowering our staff complement to enrich the lives of those we serve.
Our openness to change and commitment to POWER UP and raise the B.A.R. —BEING aware; cultivating an ATTITUDE for success; and consistently achieving even more by REIMAGINING the possibilities of the Credit Union and how to better serve our members – signals our deepseated commitment to our member experience tenets: Valued, Connected and Trusted. We remain committed to ensuring that our members have access to all the opportunities afforded to them through their Credit Union, with more value-added products and services to come.
PARTNERSHIPS
At the heart of our operations is the ethos of people helping people. Our member centric focus has evolved with the transformation of the financial sector resulting in partnerships that ensure greater access to a financially sound future.
First Heritage Co-operative Credit Union Limited (FHC) is a proud member of the Jamaica Co-operative Credit Union League Limited (JCCUL), the national association which provides support to Credit Unions across Jamaica through promotion and education regarding the movement as well as lobbying on matters concerning central business services.
In partnership with CUNA Caribbean Insurance, we provide unparalleled insurance options for our members and their families. Members have access to the Family Indemnity Plan and Family Indemnity Plan with Critical Illness rider that provide stability and hope in difficult and life changing situations.
As we seek to grant ease of access to a diverse menu of financial products across groups of employees through other entities, FHC continually partners with organizations to establish tailored work place savings and loans programmes for their respective teams. Some entities with which FHC Credit Union has partnered include, the Jamaica Civil Service Association (JCSA), Sandals Group and Spectrum Insurance Brokers Limited, along with others, to offer specialized services, further expanding our member base.
FHC FOUNDATION
Focused on the development of Jamaica’s youth, in particular underserved children, the FHC Foundation is on a mission to positively transform lives through sports, education mobilized through community-based initiatives.
The FHC Foundation is driven by our passion to truly make a difference in the lives of our nation’s youth. As a staunch supporter of youth development, the foundation promotes and facilitates programmes which assist young Jamaicans, particularly at the primary, secondary and tertiary school levels through access to the prestigious Renald Mason & Oswald Thorbourne Scholarships, as well as skills training and career development projects. Coupled with this, the FHC Foundation supports budding entrepreneurs through our annual Entrepreneurship Awards which offers grants valuing $500,000.00 to three successful participants.
JOIN THE FHC FAMILY
We invite you to join the FHC Family. Our products and services cater to your everyday financial needs at each stage of your life. Whatever your goals, start here, start now.
FULL MEMBERSHIP
You may join membership by completing our Membership Application Form, available for download on our website www.fhccu. com. You may print, complete and submit this to your nearest FHC Branch.
When applying, you will be required to: Complete a Membership Application Form, pay the minimum amount required of $3,650, and provide a valid Identification Card, Tax Identification Number (TRN), proof of address, proof of bond affiliation and two references.
STARTER MEMBERSHIP
FHC will, in the coming months, offer a Starter Membership tier for young adults and the underbanked sector. This step will foster financial enablement by facilitating access to membership at a reduced cost of $1,000 for students within in 18 to 24 age group. This member segment grants access to valuable services including student loans and internally secured loans, deposit insurance products, as well as eligibility to vote at Annual General Meetings amongst other limited services. Within 3 years of membership or on the attainment of age 25 conversion to full membership is required. Similarly, persons who are unemployed, or are low income earners without the financial means to afford full membership, will have access to the Starter Membership Tier.
We take great pleasure in serving our members and are committed to playing our part in ensuring that Jamaicans continue to have access to sound financial solutions and support across every stage of life.
We remain aligned to our promise that FHC Credit Union is My Place, Your Place, Our Place.