A milestone worthy of celebration

ON BEHALF of the board of the Jamaica Cooperative Credit Union League (JCCUL), I am pleased to extend hearty congratulations and best wishes to the volunteers, management, staff, and members of the Public Sector Employees Cooperative Credit Union (PSECCU) on the occasion of your 50th anniversary. Fifty years in the life of any organisation is indeed a major milestone that is worthy of celebration, and we salute you as you take time to reflect on the past 50 years and envision the next 50 years and beyond.

For the last five decades, the PSECCU has been consistent in providing exemplary service and modern financial products, at affordable prices, contributing to their members’ social and economic empowerment. For this reason, your theme ‘Celebrating 50 Years of Outstanding Service’ is most appropriate.

FINANCIAL GIANT

The fledgling entity that began on May 14, 1968, in the precinct of Harmon Barracks, Up Park Camp, has over the years, emerged as a financial giant in the security services industry. Accordingly, credit is due to the hard-working volunteers and management and staff, past and present, who have collectively contributed to the growth of membership, from 70 in 1968, to over 8,600 currently. The solid growth seen in other areas is also commendable. For example, at the end of 2017, PSECCU recorded total assets of over $2.1 billion, a loan portfolio of $1.6 billion, and a savings portfolio of $1.3 billion.

Over the years, and through your many changes, attention has been given to expanding your common bond, to accommodate; family members, all employees of the public sector, and past employees, including retirees. This is a true manifestation of the ethos of the movement, depicted in the hands and globe that Credit Unions are fundamentally about families, biological or otherwise.

The celebration of your golden jubilee comes at a time when the movement is about to enter a new paradigm: the transition from self-regulation by the JCCUL to a regulatory regime

superintended by the Bank of Jamaica (BOJ). This is profound, and there will be challenges. I urge you however, not to be deterred, but instead, stride confidently into the unknown, while capitalising on the many opportunities along the way, secure in the knowledge that the credit union principles that have fortified you over the past 50 years will be the very principles that will guide and sustain you in this new dispensation.

Congratulations and best wishes as you celebrate fifty years of accomplishments and distinguished service to your members, your communities, and Jamaica land we love.

WINSTON FLETCHER President Jamaica Cooperative Credit Union League