Highlights

A Short History of The Jamaica Defence Force Credit Union

In 1963 a group of civilians working in Up Park Camp, piloted by Father McLaughlin started a study group to learn about Credit Unions.    Individuals from the Credit union League and other organizations would come in and give lectures to this group.   Eventually they started saving, their lodgements being recorded on cards.

The JAMAICA DEFENCE FORCE CO-OPERATIVE CREDIT UNION LIMITED as we know it today was formed as a result of this study group.   The savings from the study group were transferred to the Credit Union and the lodgements now recorded in passbooks.

The President, in the beginning was Mr. Basil Williamson; the Treasurer, Mr. Irvin Gray; and the Secretary, Ms. Joyce Marshall.   The Credit Union did not have a Manager at that time therefore the Treasurer would act as the Manager.   Subsequently, Mrs. Beryl Crawford (now deceased), was then employed as manager to the Credit Union, she later moved on to the Public Service Credit Union.

The first Annual General Meeting was held on January 1, 1964, which found the Credit Union with a Share Capital of Six Hundred and Sixty-eight pounds, one shilling and six pence i.e. approximately One Thousand, Three hundred and Thirty-seven dollars and Fifty-five cents ($1,337.55).   By this time, there were one hundred (100) members and one (1) staff member.

One may ask, "how did they manage with just one employee?"   Well, at this time the Credit Union was not granting loans, therefore, this person's job was mainly to collect lodgements and record them in the passbooks.

By 1971 the SWYS scheme was started with Nine hundred and Forth-three members and deposits totaling Forty-six Thousand dollars.

In 1973, the JDF Credit Union had its ten (10) year celebrations which declared a membership of One Thousand, Five Hundred, seven members of staff and a Share Capital of Three hundred and Fifty Thousand dollars.   The president at that time was Mr. Jeremiah Brown.

The JDF Credit Union has come a long way since its inception in 1963.   It now boast a total of Three Thousand, Five Hundred members and a Share Capital of $64.8 million.   It also offers a number of products and services to its members, namely:-

  • Child Accounts
  • Fixed and Ordinary Deposits Accounts
  • Computer Loans
  • Home Improvements Loans
  • Blue Cross Scheme

Over the years the Credit Union has been assisting our members in the acquisition of real and personal properties through our different loan portfolios.   It is our intention to continue to provide quality and professional services to our members as we continue to work together to make the JDF Credit union a force to be reckoned with in the new millennium.