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  • Prime Minister, the Most Hon. Portia Simpson Miller, is lauding Jamaica’s credit union movement for its contribution to the economic and social life of the country and positively transforming the lives of its members.
  • The Prime Minister was speaking on Thursday, April 23, at the official opening of the Hanover Co-operative Credit Union’s (HCCU) new building in Lucea.
  • The opening of the building, which has been named in honour of founder, the late Enid Watson Gonsalves, is part of activities to celebrate the institution’s 40th anniversary.

Prime Minister, the Most Hon. Portia Simpson Miller, is lauding Jamaica’s credit union movement for its contribution to the economic and social life of the country and positively transforming the lives of its members.

The Prime Minister was speaking on Thursday, April 23, at the official opening of the Hanover Co-operative Credit Union’s (HCCU) new building in Lucea.

The opening of the building, which has been named in honour of founder, the late Enid Watson Gonsalves, is part of activities to celebrate the institution’s 40th anniversary.

The Prime Minister, in her address, noted that the credit union movement grew out of the period of the 1970s when the establishment of community-based financial and other institutions were encouraged by Government policy.

She said the institutions have withstood the test of time and “continue to play a major role in positively transforming people’s lives and helping their members to realise their dreams.”

The Prime Minister congratulated the HCCU on its achievements over its four decades of existence.

She said that having started from humble beginnings in 1975, with 123 thrift club members, the institution’s membership has grown to 30,196, and has more than $1.3 billion in assets.

The Prime Minister said the institution stands as a monument its late founder, and as a testament to what can be achieved through ambition, focus, determination, diligent saving and wise investment.

“This fine monument, in memory of its founder, should serve to dismiss the ‘get rich quick mentality’ which is so prevalent among some of our people,” Mrs. Simpson Miller stated.

“It is a reminder to young entrepreneurs and graduates that they too can make it in business with a clear vision, workable idea, viable business plan, proper preparation, consistent work and the resolve never to accept failure as an option,” she added.

In his remarks, Member of Parliament for Western Hanover, Hon. Ian Hayles, who informed that he is a member of HCCU, said the institution has remained faithful to the parish.

He encouraged his other parishioners to invest their money in the co-operative in order to achieve their dreams.

Mayor of Lucea, Wynter McIntosh; and representatives of the Jamaica Co-operative Credit Union League and the Department of Co-operatives and Friendly Societies also congratulated the HCCU on 40 years of achievement.