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 History
 
FX Rates – Feb 06, 2012

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Testimonials

The presence of the Credit Union on the Mona campus is something of an ancestral, or rather a s...
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Mrs. Verna McLean has been a long-standing member of the Credit Union. Her membership dates back to ...
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  Historic Flash Points
1954
  • The Credit Union was officially registered as a financial co-operative on June 25.
1959
  • The Credit Union began to benefit from fidelity guarantee insurance. "CUMIS Bond Coverage" as it is referred to, came into being through the insurance arm of the Credit Union. This provided protection for members' money against burglary, robberyof cash in-transit or defalcation.
1963
  • The Stabilization Society created by the Jamaica Co-op. Credit Union League allowed the credit union to offer members a sense of security as their savings would be protected in the event of insolvency.
1971
  • The Credit Union's name was changed from University Staff College Co-op. Credit Union Ltd. to UWI (Mona Campus) Co-op. Credit Union Ltd.
1974
  • Members were able to own homes at Mountain Terrace and Nannyville Housing Schemes through the Credit Union.
1977
  • The Credit Union reached $500,000.00 in assets.
  • The Jamaica Coop. Credit Union League introduced the Home Improvement Program, which opened up the opportunity for members to obtain mortgage loans.
1987
  • The Credit Union reached $5M in assets.
1988
  • Hurricane Gilbert severely damaged the old Nunnery where the Credit Union was housed.
1990
  • A fully computerized system was introduced.
1992
  • Legislation was amended to allow credit unions to modify interest rates on loans to ensure their sustainability.
1997
  • Merger of University Hospital (Unihosp.) Co-operative Credit Union Ltd. and UWI Mona Co-operative Credit Union Ltd. and widening of common bond. The credit union then became UWI (Mona) & Community Co-operative Credit Union Ltd.
1998
  • The Credit Union achieved $100M in assets.
1999
  • The Credit Union building was completed and occupied. The ground breaking ceremony took place in October 1998 and the building was occupied in August 1999.
2000
  • The new building was declared officially open by the UWI Vice Chancellor, Professor the Honourable Rex Nettleford and the ribbon was cut by UTech Pro-Chancellor, Dr. Blossom O'Meally-Nelson.
  • The Credit Union was assigned the responsibility to administer the UWI Loan Scheme for MONASA and UAWU.
  • The inauguration of the Ezra Lewis Memorial Scholarship.
  • The credit union enters into a mortgage partnership with Victoria Mutual Building Society.
2001
  • Vice Chancellor, Professor the Honourable, Rex Nettleford bequeaths Golden Harvest to the UWI.
    The profits earned that year enabled the credit to make the largest dividends payment in the history of the credited union which amounted to 13.2%.
  • The cambio service was introduced.
  • The credit union became a collection centre for UWI students' tuition fees.
  • The UTech office was opened.
2002
  • Cabinet Secretary, Dr. Carlton Davis bequeaths Golden Harvest to the UWI.
  • Selected by the UWI to administer the UWI/WIGUT Loan Scheme.
2003
  • Asset size of J$500M was reached in March.
  • The Credit Union's 50th Anniversary celebrations were declared open by the Vice Chancellor of the UWI, Professor the Hon. Rex Nettleford, at the Credit Union's 'Caribbean Night'.
  • Pro-Vice Chancellor and Principal of the Mona Campus, Professor Kenneth Hall, launched the new 'People 2 People' remittance transfer service.
  • A 50th Anniversary commemorative graduate scholarship, worth some J$200,000.00 was launched for students in the field of Cooperatives or Entrepreneurship.
  • Expansion of the Credit Union building began.
2004
  • Credit Union building on the UWI campus completed.
  • ATM installed.
2005
  • The Credit Union building on the UTech campus completed and ATM installed.
2009
  • Asset size of over J$1.5B was reached in December
  • Expansion of services through Internet Banking, Debit Card and SMS Messaging
2010
  • Rule Changes were approved and Permanent Shares was introduced.
  • Launched JN Money Transfer remittance services.
  • Became an agent of Credit Union Fund Management Company Ltd (CUFMC) who offers US$ Investments, stock-broking and other services

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