A History of Service
1959
With a membership of forty-one (41) and savings of approximately One Hundred and Fifty dollars ($150.00), the Postal Credit Union was registered on August 13, 1959. Based on the records, the founders of the Postal Credit Union were: Lloyd A. Boyce Richard Brown Keith Burgess
1960s
The credit union experienced very challenging times in its early years. Messrs. Keith Hall and Stanley Moore from the Jamaica Co-operative Credit Union League gave outstanding service to the credit union, working tirelessly during this period to ensure its continuity.
1970s
In October 1972 the 4th Annual General Meeting was held at Barry Street, Kingston and was chaired by the then President, Keith DePass. The 5th AGM was held 3 years later, in October 1975 covering the period 1971 to 1974. Total Assets as at the 1974 audit - $237,266.
The 6th Annual General Meeting held in October 1977 elected a new Board of Directors, Credit and Supervisory Committees comprising the following members:
Keith DePass – President
George Freckleton -Vice President
Astley Harding – Treasurer
Lloyd McPherson – Secretary
Roy Stewart
Lincoln Pennant
Gilford Nembhard
Thomas Shirley
Herman McKoy
By 1978, the staff complement had increased to 6. After a review and restructuring exercise, however, it was reduced to 3. Mrs. Joereen McLean was appointed Manager in March 1978.
Currently, there are 9 members of staff, 2 of whom have been serving for over 30 years!
1980s
The redundancy exercise carried out in 1985 by the Post & Telecommunications Department negatively impacted the credit union, causing a major increase in the loan delinquency ratio and a decrease in its cash flow resources. In 1987 the Board agreed to computerize its operations, the first phase being members’ accounts. Both members’ ledger and the General Ledger are now computerized and fully integrated.
2019
AGMs, for varying reasons, were held every other year until 1988, thereafter, held annually. As a result, in September 2019, the credit union held its 37th AGM. The credit union celebrated its 60th anniversary in 2019.
The Postal Credit Union building
The Postal Credit Union building
The credit union, which was being operated from a small office at the Post Office Headquarters, was relocated to 12 Camp Road, Kingston 4 in 1974.
In January 1976 the credit union was relocated to 27 South Camp Road, property rented from Teachers Credit Union. In 1976 the credit union acquired the property from which it now operates, 55 South Camp Road, Kingston 4, for $38,316.
The first renovation of the credit union’s property was completed in January 1980 and the credit union’s office was relocated there. The official opening of the building took place on the 18th of April 1980.
The building, over the years, has gone through several modifications. The office now accommodates a nine-member staff, a very spacious lobby fitted with a washroom for the comfort of members, a Board room equipped with restrooms and a recreational area for staff and volunteers
