Our Place Magazine : Vol 5 Issue 1

Over 200 FHC Credit Union and FHC Investments team members, travelled into Kingston from across the island to attend the annual Blast Off staff event and motivational session hosted by the Credit Union on Friday, February 17, 2023 at the Jamaica Conference Centre.

The event, which is the first on a list of activities planned for team members, is a staff meeting held at the beginning of each year to review the previous financial year, reward outstanding team member performance and to give the charge for the year ahead.

The event, aptly themed, ‘On To New Horizons ... Dream, Dare Deliver’, featured a number of impactful and entertaining presentations delivered by guest speaker Dr. Orville Taylor, the Credit Union’s Leadership Team and an energetic performance by popular dancehall entertainer Laa Lee, to close the event.

Roxann Linton, Chief Executive Officer of FHC Credit Union encouraged the FHC Champions to continue to foster an environment of unity, continued learning, and growth. She shared that this will allow the team to look to new horizons, as they dream more, dare more and work together to deliver bigger wins.

“I am grateful for all that you bring to the environment which allows us to keep exceeding our targets in a phenomenal way … we continue to be a world-class financial institution focused on enhancing the welfare of members, employees, and the communities in which we operate. I am excited about what will unfold for us in the coming year,” she said.

The day’s proceedings opened with praise and worship, while MC Ludlow ‘Pretty Boy Floyd’ Peynado kept the audience in high spirits throughout the day by engaging the team members in exciting activities, such as a karaoke competition and giving away prizes. The event also entailed the presentation of awards to team members for their outstanding work, commitment and dedication throughout 2022.

Collectively, FHC’s employees also entered the “dojo” and completed a karate exercise with Martial Arts instructor Jeffrey Azan. The activity sought to tangibly capture the message of togetherness, mental fortitude, learning, agility, resilience and leadership which was being promoted as a part of the charge to the team for the 2023 financial year.

The CEO closed her remarks by encouraging the team to burgeon towards new horizons as they embark on a record-breaking 2023.

HIGHLIGHTS OF BLAST OFF 2023

FHC STRENGTHENS ST. THOMAS REVIVAL WITH

First Heritage Co-operative Credit Union (FHC) solidified its expansion in the St. Thomas community, in a symbolic Grand Opening of its newest Branch in the parish on Friday, March 3, 2023. This is one, in a series of activities undertaken by the Credit Union to bolster its service delivery, through an enhanced member experience, and support the national thrust to re-energise St. Thomas.

The multimillion-dollar investment by FHC, is seen as a logical and necessary step towards strengthening the growth and expansion of access to full suite financial services, including Agricultural lending, not only in St. Thomas — but across the country, ultimately, positively impacting the industry as well as the economy.

At the new branch, members are afforded comfort, convenience and more ways to secure their financial freedom through FHC’s practical loan products and investment services.

First Heritage Co-operative Credit Union continues to expand its investment in the historic parish through the deepening of relationships with non-profit and other community-based organizations, to effect positive change among the youth, community and enhance education levels.

Recently, the Credit Union partnered with the St Thomas Renaissance Foundation, Inc. (STTFR) to host the second annual staging of the Paul Bogle and the Warriors Debate Competitiondedicated to engaging students in intellectual discourse about the Morant Bay War, the winning team was Morant Bay High School.

During her remarks at the Grand Opening, First Heritage Co-operative Credit Union CEO Roxann Linton shared, “As we forge our future together, breaking barriers into new horizons and enriching the lives of our fellow men, we continue to engage with various stakeholders to empower and enhance this community.”

She continued, “As we deepen our relationships through more collaboration, we continue to strategize ways to empower the community through expanded access to financial services and financial literacy.”

First Heritage Co-operative Credit Union is focused on the advancement of commerce and the enrichment of the people who live in the communities in which they operate.

MULTIMILLION-DOLLAR MORANT BAY BRANCH

From left are: FHC Assistant General Manager – Marketing, Communications & Member Experience Michelle Tracey; Assistant General Manager - Operations & Shared Services Karlene Simpson; General Manager - Finance and Operations Emil Williams; Facilities Officer Dewayne Mullings; Jamaica Co-operative Credit Union League Limited Group CEO Robin Levy; FHC Credit Union Board Chairman Leodis Douglas; (back right) Mayor of Morant Bay and Chairman of the St. Thomas Municipal Corporation His Worship Councillor Hubert Williams; FHC CEO Roxann Linton; General ManagerCredit Administration & Loan Risk Quilston Harrison; Branch Manager, St. Thomas Aljay Cole and Parish Manager - St. Thomas Social Development Commission Lorian Peart-Roberts.

First Heritage Co-operative Credit Union (FHC) cemented its expansion in the historic St. Thomas community with the grand opening of its multimillion-dollar Branch in Morant Bay on Friday, March 3, 2023.

Douglas (centre) and Branch Manager, St.

Aljay Cole (second right) celebrate the grand opening of the multimilliondollar FHC St. Thomas Branch alongside Parish Manager, St. Thomas Social Development Commission Lorian PeartRoberts (second left) and Jamaica Co-operative Credit Union League Limited Group CEO Robin Levy on Friday, March 3, 2023 in Morant Bay, St. Thomas.

Retail, Sales & Service

FHC

in a lively discussion on Friday, March 3, 2023 at the grand opening ceremony of FHC’s new branch in Morant Bay, St. Thomas. FHC Investments Limited General Manager Karlene Mullings (right) and FHC Branch Manager, St. Thomas Aljay Cole listen in.

First Heritage Co-operative Credit Union (FHC) CEO Roxann Linton (left); Chairman of the Board Leodis

Thomas

First Heritage Co-operative Credit Union Limited (FHC) Assistant General Manager,

Saint Beverly Tomlinson (left) engages long-serving

Member Claudette Gilzine (second left)

Mayor of Morant Bay and Chairman of the St. Thomas Municipal Corporation His Worship Councillor Hubert Williams (left) exchanges greetings with First Heritage Co-operative Credit Union (FHC) CEO Roxann Linton (centre) alongside FHC Credit Union Board Chairman Leodis Douglas during a tour of the new multimillion-dollar FHC Branch in Morant Bay, St. Thomas on Friday, March 3, 2023 at the Grand Opening Ceremony.

Most people know that a home is probably the largest single purchase they’ll ever make. However, many first-time buyers underestimate the amount of cash they will need to purchase their dream home. Here are some tips to help you save money for a house:

• Create a budget: Discover how much you need to save for a house, and then build a budget around that amount. Once you have reduced excessive spending, saving towards your deposit will be so much easier.

• Make savings automatic: Set up automated savings to a dedicated account. This way, you’ll be saving a fixed amount of money regularly without even giving yourself the chance to use it for something else.

• If you come into more money, save most of it: Maybe you just received a nice bonus at work, or maybe you earned extra cash from a side business. Don’t splurge. Save it!

• Find other ways to earn more money: If you have a profitable skill or hobby, why not use it to make a little extra money? This secondary stream of income can really pay off in the long-run and assist with reaching your savings goal within your desired timeline.

• Have enough for the down payment and mortgage payments: It’s easy to stop saving once you’ve hit your down payment amount in your savings account. But remember, you’ve got mortgage payments to make now, too. Saving for both is crucial.

• Let’s not forget to save towards closing costs: On top of your down payment, you’re also going to have to pay taxes and other closing costs associated with your house purchase. Be sure to set aside some for this payment.

• Have an emergency fund: Having an emergency fund will prepare you for any emergencies that may arise with homeownership (leaks, flooding, damage, etc.). A part of saving for a house includes putting money aside for any unforeseen circumstances.

• Talk to our experts: We are here to listen to your goals and assist you in creating a plan to help make your dream of homeownership a reality. Speak with one of our representatives to explore the options available to you. Connect with us via phone at 876-929-5142, via WhatsApp at 876551-8193, or by email at info@fhccu.com.

1. Late Charge - The penalty a borrower must pay when a payment is made a stated number of days after the due date.

2. Liabilities - A person’s financial obligations. Liabilities include long term and short term debt.

3. Lien - Claim against property whereby the property is security for a debt. The holder of the lien is entitled to have the property sold to satisfy the debt.

4. Loan Term - The length of time the borrower has to repay debt.

5. Certificate of Deposit - A certificate of deposit (CD) is a savings product that earns interest on a lump sum for a fixed period of time.

6. Early withdrawal penalty - the penalty fees you attract when you access your money before your certificate of deposit term ends. The fees are usually the interest earned, or the interest that you would have earned, over a certain number of days or months.

7. Compulsory/Mandatory savings - Savings payments which are often required in place of collateral for loans at credit unions, cooperatives, microfinance institutions, village banks or savings groups.