| History |
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FX Rates – Nov 21, 2008
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| Today's Rates |
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sell |
buy
cheque |
buy
cash |
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| USD |
77 |
74 |
73.5 |
| GBP |
114.6 |
108.6 |
108.55 |
| CAD |
62 |
59.05 |
59 |
| EUR |
96.45 |
90.55 |
90.5 |
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| * Rates subject to change. |
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Testimonials
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I knew quite early that the Credit Union is a brilliant institution, so I call it the uptown &l... |
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for more>> |
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The presence of the Credit Union on the Mona campus is something of an ancestral, or rather a s... |
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for more>> |
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| History |
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The ‘Roaring 20s’, the ‘Depressing 30s’ and
the ‘Warring 40s’ had come and gone. Four years
into the ‘Reconstructing 50s’ and six years
after the University of the West Indies was born, the Credit
Union began. It was colonial Jamaica for we were still
under British rule.
The Credit Union was by then one of sixty-seven Credit
Unions in Jamaica at the time and part of a sixteen year-old
movement brought to these shores by Catholic Jesuit priest,
Father John Peter Sullivan. |
Part
of the Movement’s
philosophy is to establish Credit Unions amongst and
for persons with some commonality by virtue of the community
in which they live or by employment referred to as a ‘Common
Bond’. Appropriately the staff of the University
of the West Indies, Mona formed their Credit Union
and was duly registered as a co-operative in June 1954.
A part of the history of the Mona Campus became a part
of the Credit Union’s history. This refers in
particular to the Nunnery on Shed Lane, now demolished,
which housed the offices of the Domestic Bursar as
well as that of the Chaplain on the ground floor and
a miniature Hall of Residence on the first floor. Over
time all the offices and the Hall of Residence were
re-located but the Credit Union remained housed in
that building until 1999.
It is not very often that there could be a genesis and
an evolution without both positions clashing. What followed
after May 26, 1954, proved this:
"Two shillings........ with two shillings, the
Credit Union began in May 1954." |
| So said MRS. HELEN TROUGHT, a very early member, and past member of the Credit Committee. In the early days of the Credit Union the situation could best be described as a time of struggle for the working class and the membership of the Credit Union was comprised mostly of this group of persons. |
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| The monthly contribution towards the Credit Union was two shillings to two shillings and six pence. Notwithstanding this, Mrs. Trought recalled that in 1961 a delegation from the Credit Union went to Toronto, Canada to a conference of Credit Unions worldwide. "To be a $900M Credit Union today is quite an achievement," she said. |
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