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. Jamaica was still under British rule.

Part of the Movement’s philosophy was to establish credit unions amongst persons with some commonality by virtue of the community in which they live or by employment. This is referred to as a ‘common bond’. The staff of the University of the West Indies, Mona formed their own Credit Union and was registered as a co-operative in June 1954.

The Credit Union was originally housed on the ground floor at the Nunnery on Shed Lane, now demolished, where the offices of the Domestic Bursar and the Chaplain were also located in addition to a miniature Hall of Residence. Over time all the offices and the Hall of Residence were re-located but the Credit Union remained 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: 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. "Two shillings........ with two shillings, the Credit Union began in May 1954." said Mrs. Helen Trought, a very early member, and past member of the Credit Committee.