Notice of ANNUAL GENERAL MEETING
Members/Shareholders are hereby notified that the fortieth (40th) Annual General Meeting of the St. John’s Co-operative Credit Union Limited will be held Thursday, 29th August 2024 via Zoom platform and in Person at the John E. St. Luce Finance and Conference Center, starting at 5:00 pm.
AGENDA - Reconvening of the 40th and the Convening of the 41st Annual General Meeting
REGISTRATION (4:30 pm to 5:00 pm) Early Bird Prizes!
OPENING SESSION (5:00 pm to 5:15 pm)
1. Call to order and Credit Union Prayer
2. Silent Tribute to Credit Union Pioneers and Members Deceased in 2021
3. Chairman’s Opening Remarks
BUSINESS SESSION (5:15 pm to 7:30 pm)
4. Ascertainment of Quorum and Apologies
5. Approval of Standing Orders
6. Confirmation of Minutes of the 39th and 40th Annual General Meeting held March 2023
7. Matters Arising from the Minutes
8. Reports: Discussion and Adoption
• Board of Directors
• Credit Committee
• Supervisory & Compliance Committee
• Treasurer
• Auditor’s Financial Statements
9. Declaration of Dividends
10. Nominating Committee Report and Election of Officers
11. Appointment of External Auditors
12. Any Other Business
13. Closure
By Order:
Jamila Gregory SECRETARY, BOARD OF DIRECTORS
STANDING ORDERS
1. (a) A member is to stand when addressing the chair.
(b) Speeches are to be clear and relevant to the subject before the meeting.
2. A member shall address the meeting only vwhen called upon by the Chairperson to do so, after which he shall immediately take his seat.
3. No member shall address the meeting except through the Chairperson.
4. A member may not speak twice on the same subject except:
(a) The Mover of the Motion - who has the right to reply.
(b) He rises to object or explain (with the permission of the Chair).
5. The Mover of the Procedural Motion(Adjournment laid on the table, Motion to Postpone) to have no right to reply.
6. No speeches are to be made after the “Question” has been put and carried or negative.
7. A member rising on a “Point of Order” to state the point clearly and concisely. (A “Point of Order” must have relevance to the “Standing Orders”.)
8. A member should not “call” another member “to order”, but may draw the attention of the Chair to a “Breach of Order”.
9. A “Question” should not be put to the vote if a member desires to speak on it or move an Amendment to it – except, that a “Procedural Motion”, “The Previous Question”, “Proceed to the Next Business”, or the “Closure”: “That the Question be NOW PUT”, may be moved at any time.
10. Only one amendment should be before the meetng at one and the same time.
11. When a motion is withdrawn, any amendment to it falls.
12. The Chairperson is to have the right to a “Casting Vote”.
13. If there is equality of voting on an amend ment, and if the Chairperson does not ex ercise his/her “Casting Vote”, the amendment is lost.
14. Provision is to be made for the protection of the Chairperson from vilification (personal abuse).
15. No member shall impute improper motives against another member.
08 17 12 09 15 22
BOARD OF DIRECTORS
SPELL OUT SUPERVISORY & COMPLIANCE COMMITTEE
CREDIT COMMITTEE
TREASURER’S REPORT
PEARLS & RATIOS OUR TEAM
CREDIT UNION PRAYER
Lord, make me an instrument of Thy peace, Where there is hatred, let me sow love, Where there is injury, pardon, Where there is doubt, faith, Where there is despair, hope; Where there is darkness, light; and Where there is sadness, joy.
O Divine Master, grant that I may not So much seek to be consoled as to console; To be understood as to understand; To be loved as to love; For it is in giving that we receive; It is in pardoning that we are pardoned; And it is in dying
VISION To be the premier financial institution in Antigua & Barbuda that is renowned for enhancing the quality of life of its members, their families, communities and nation
MISSION To enhance the quality of life of our members and their families by operating an efficient, financially sound and sustainable credit union that provides affordable and innovative products and services
MOTTO Saving Together for Financial Self-sufficiency
OUR PROFILE
Date of Registration Aug 16, 1982
Number of Members 12,484
Number of Employees 42
Solicitors
• Henry and Burnette
• Leslie-Ann Brissett Legal Services Financial Institutions
• Antigua Commercial Bank • Eastern Caribbean Amalgamated Bank Regulators • Financial Services Regulatory Commission Total Assets $131,718,608 Total Net Loan $97,630,522 Total Deposits $116,592,509 Member Share Capital 10,670,315 Total Comprehensive Income $10,772,142 Auditors BDO Eastern Caribbean
Growth and Resilience Planning for Success.
For St. Johns Co-operative Credit Union, the year 2021 saw the continuation of the effects of the global pandemic. This has changed the way financial institutions conduct business. The use of technology had to be hastened to be an integral part of the daily operations in order to provide services and products to our members. Yet, we still focused on the safety of our members and staff as this was of equal importance.
Approximately one thousand members were offered the Moratorium during the Covid pandemic. The Board and Management had to be deliberately strategic in our oversight and operation of St. Johns to ensure its sustainability as we now must live with Covid-19. This was our way of bringing to life our Mission, which is to enhance the lives of our members and their families during this uncertain period.
In 2021, the Regulatory Body mandatorily required credit unions to improve, monitor, and control their daily operations. This equated to the employment of an Internal Auditor in 2021. This has supported the review of our processes and procedures and offered the necessary review of risk exposure to our credit union. Subsequently, our risk framework will be developed and implemented.
Additionally, we continue to educate the staff on the role and value that Internal Audit department plays in our credit union to implement strong processes and make our control mechanism such that it reduces the risks. This sets the culture for accountability. The beginning of change was evident.
The Board continues to engage in Joint Committee meetings not just as a requirement but to ensure that discussions are held amongst all volunteers to facilitate
shared information. We continue to foster a participatory environment at SJCCU.
The growth of SJCCU was evident, as the recently opened Branch at Mandolin Place on Friars Hill Road required further expansion in 2021.
Throughout the credit union, training was done for staff and volunteers to the value of $80,000.00. As we prepare for continued growth and development, it was critical that the knowledge and skill gaps that are identified are also filled. Our members expect high standards, and this can be accomplished by continued education, and improved products and services. These are the same members who continue to demonstrate confidence in our credit union as we saw a 6% increase in deposits during 2021.
As the Board of SJCCU, we will continue to work closely with the management and the staff to execute the agreed strategies and plans. We are working to streamline our policies and procedures as we continue to keep and attract outstanding, dedicated employees who have consistently demonstrated the patience and confidence in the plan for the success of our credit union to be realized.
On behalf of the Board of Directors, we thank you for the opportunity to serve our Credit Union as we continue to plan for the success of our credit union, St. John’s Co-operative
Submitted by, Barbara Coates,
Report Summary of The Board of Directors For The Year 2021
Composition and Meetings
Board Sub-Committees
The Sub-Committees, were as follows:
• Risk and Investment Committee
• Retirement Fund Board of Trustees
• Nominating Committee
• Process & Control Committee
• Human Resource Committee
League Relations Leadership
SJCCU Board representative, Ms Shari Brown, served as Vice Chairman of the League Board.
Events
The League Office provided development opportunities for staff and volunteers, advocacy, network and public relations opportunities, shared services and other support as was required. SJCCU collaborated with the League and supported their activities.
Caribbean Confederation of Credit Unions
The 64th Annual Caribbean Confederation of Credit Unions Virtual Convention took place from June 21st through June 24th, 2021. SJCCU was represented by:
Mrs. Barbara Coates – President, Board of Directors
Mrs. Jennifer Whyte - General Manager
Mr. Cuthwyn Weston - Finance Manager
Mr. Surge George - Credit Manager
Mrs. Lottoia Auguiste - Operations Manager
New Team Members
Joining Us In 2021 - Staff
• Theoni Roach, Internal Auditor
• Nekelia Jarvis, Teller
Special Staff Achievements Promotions
• Thalia Burton: From Administrative Clerk to Executive Administrative Assistant to the GM
SJCCU 39 Years Anniversary Celebration
August 15th – 20th 2021
St. John’s Co-operative Credit Union celebrated its 39th anniversary under the theme “Belonging Never Felt Better”. For 39 years, this great institution has been making a difference in the lives of our members.
The usual celebrational activities were curtailed due to the COVID-19 in accordance with the COVID-19 protocols. We are hopeful that we will return to normalcy by the 40th year milestone and able to celebrate like only “TEAM SJCCU” can.
We thank our staff on the front line and our members for their dedication and continued support during these challenging times.
2021 Year In Review Highlights
Here is a flashback on noteworthy developments, events, Public Relations campaigns and our promotions via our varied communication channels:
Left to right – Delroy Samuel, Winston Laville, Jamila Gregory, Shari Brown, Lucresia Liverpool-Francis, Brbara Coates and Chevaughn Smith
International Credit Union (ICU) Day, Week and Month
The theme for 2021 ICU Day was, “Building financial health for a brighter tomorrow,” which speaks to the efforts credit unions contribute to a brighter future in their communities by working to improve members’ financial well-being. The International Credit Union Day activities were scaled down due to the Covid-19 pandemic. Activities were planned to celebrate the week observed for credit unions from 18th to 22nd October 2021.
The activities included the Money Management Presentation which was presented via Zoom and Media Blitz with appearances on ABS TV and Observer Radio.
In addition to this, our Members were given the opportunity to win tokens throughout the week.
Our 2021 calendar:
• Our branch celebrated its 3rd anniversary.
• On-line Access: Emphasis was placed on education our members of our Online platforms.
• D-Cash: SJCCU established a partnership with ECCB for their D-Cash Pilot. The team at SJCCU played their part in offering this service to our members.
Promotions and Campaigns
• Preowned Vehicle Sale
• Call US First
• Breath Easy
• Come Home to SJCCU
Training & Development
Opportunities FOR VOLUNTEERS AND STAFF
• Inova Solutions – Master your Solutions
• CSHRP (Caribbean Society of Human Resources Professionals) – LOUD the voice of HR
• International Compliance Association in collaboration with Jamaica Institute of Financial Services – Unmasking Digital Fraud
• Microsoft Excel Introduction & Intermediate Training
• New Horizons School of IT - Microsoft Excel Introduction & Intermediate
• UWI Open Campus - Supervisory Management 1
• UWI Open Campus - Effective Management and Leadership
• UWI Open Campus - Project Management
• IBE Forum - Finance for NonFinancial Manager
• ONDCP-Antigua-Barbuda Compliance Officers Forum
• Micro Soft Designs (MSD)Introduction to Emortelle
• Samuel Fields Consulting Group -Financial Wellness Workshop
• SJCCU Introductory AML/CFT Training
• CGTI - Chartered Director
• ICAEC – Antigua & Barbuda Branch IFRS 9 15 16 and 17
• ABCL - Good Governance
• CGTI - Audit and Risk Committee Certification
• CGTI - Chartered Director
• ICAEC – Antigua & Barbuda Branch IFRS 9 15 16 and 17 Assistant to the GM
2021 AGM & Volunteers Swearing in
Board of Directors: Left to right – Winston Laville, Jamila Gregory, Shari Brown, Lucresia Liverpool-Franis, Barbara Coates and Chevaughn Smith
Credit Committee Left to right - Michaela Morris-Techeira, Venicia Ferris and Taneisha Richardson
Roxanne Baptiste
Obituaries
Supervisory and Compliance Committee
Left to
We recognised the passing of the following SJCCU Brothers and Sisters in 2021
Adams Ithlane
Adams-Wallace Dorene
Allan Priscilla
Bailey Winston
Baptiste Lorraine
Browne Eustace
Clarke Adina
Davis Angela
Davis Rolston
Darroux Bannis
Darroux Dwayne
Evans Elaine
Ferris-Parker Cordelia
Francois Andre
Graham Victoria
George Malcolm
Lapps Matthew John
Lewis Louisa
Hamilton Priscilla
Hughes Walter
Peters Lorna
Joseph Elfreda
Joseph Jeremiah
Joseph Lawrence
Joseph Violine
Massiah Domona
Mc coy Marilyn
Mullin Archibald
Richard Kareemar
Samuel Clifford
Solan Selvin
Tanner Christal
Thibou Joycelyn
Ward Oscar
Williams Matthew
Jermaine Paul
Left to right – Jahmesha Jacobs, Shecore Simon, Mythsie Murphy, Latifa Joseph and Eleanor Thomas
Management
right: - Lottoia Auguiste, Cuthwyn Weston, Jennifer Whyte, Surge George
Supervisory & Compliance Committee
CORE VALUES
The Supervisory and Compliance Committee (SCC) seeks to work in synergy with the Credit Union to accomplish more together through open and honest communication and so effectively perform its duties and functions with a high level of accountability.
INTRODUCTION
Ladies and gentlemen, fellow members, the Supervisory & Compliance Committee (SCC) is pleased to present its annual report for the financial year ending 2021. For the financial year, the committee members worked diligently to ensure regulatory compliance and a high standard of governance was maintained within the St. John’s Co-operative Credit Union (SJCCU).
The SCC members each bring a wealth of experience and expertise, contributing to the collective goal of maintaining transparency and accountability. The primary objectives of the committee were to:
• Ensure that the organization operates in compliance with applicable laws, regulations, and internal policies.
• Address any compliance issues that arise and recommend corrective actions.
• Ensure the integrity of financial statements.
• Monitor the effectiveness of internal controls and risk management systems.
METHODOLOGY & SCOPE OF WORK
During the period, the committee maintained the use of simple random sampling and other suitable sampling techniques to enact its duties. “These techniques help to prevent
sampling and management bias, enabling the Committee to maximize its efforts when assessing information for reviews. The SCC carried out reviews of SJCCU’s performance and functions and reported its findings. In addition to its review of the Credit Union’s Compliance Program and completion of its extensive review of the Human Resources Department, the Committee:
• Held regular meetings
• Examined the books of SJCCU
• Assessed policies and procedures
• Produced reports on its findings
• Provided recommendations where necessary
• Attended joint committee meetings
• Observed meetings of SJCCU’s Credit Committee
• Observed meetings of the Board of SJCCU
• Held discussions with SJCCU’s Compliance Officer
• Presented quarterly reports on its activities to the Board of SJCCU
Compliance Program
A strong compliance framework is crucial to the credit union’s continuity. Like other financial institutions, SJCCU faces ongoing exposure to potential financial crimes. In 2021, the Credit Union exhibited moderate accretion in its AML/CFT program and maintained its rating of Effective. Conducting risk assessments, creating, and implementing mitigating controls and continuous monitoring remains paramount in the execution of SJCCU’s due diligence procedures. (Scale: Extremely Effective, Very Effective, Effective, Somewhat Effective, Not Effective).
Internal Audit
The committee continued evaluating and improving the effectiveness of the risk management, control, and governance processes. Recommendations were provided to the Board of Directors on improvements to areas and processes to mitigate financial and operational risk. Due to the size of the institution, and the increased complexity of transactions, it was deemed necessary to implement an internal audit function/program. SJCCU welcomed an internal auditor (IA) to the team in the last quarter of 2021.
Training
The committee members took advantage of several virtual training opportunities offered during the period despite lingering Covid impacts. These assisted in developing greater proficiency in their roles, thus strengthening its efforts to advance the mission of the Credit Union. Training topics included:
• Enterprise Risk Management
• New Volunteer Orientation
• Governance
CONCLUSION
ACKNOWLEDGMENTS
The SCC wishes to express sincere gratitude to all key parties involved in supporting the Supervisory and Compliance Committee’s work over the past year, emphasizing the collaborative effort required to achieve the committee’s goals. May God continue to make us an instrument of his peace.
Details of the position, tenure and attendance record of Committee members are as follows:
During the year under review the Board and Committees performed their functions as required under the Act and the SJCCUs by Laws. The Supervisory and Compliance Committee continued to review the work of all departments, the Board and committees to gain assurance that the Credit Union is being properly managed. The committee continuously reviews key aspects of the operation to ensure SJCCUs risks are adequately managed, and its trajectory remains upward. The SCC continues to be enthusiastic about executing its responsibilities. The committee looks forward to continued collaboration with the Board, Credit Committee, management, and staff to ensure sustainability and growth of the SJCCU.
Thank you.
Mythsie T. Murphy Latifa Joseph Chairperson Secretary
Left to right – Jahmesha Jacobs, Shecore Simon, Mythsie Murphy, Latifa Joseph and Eleanor Thomas
Credit Committee
Introduction
I am delighted to welcome all of you to this year’s 39th AGM of SJCCU. I am privileged to have been given the honour to address you at this AGM. I would also like to take this opportunity to thank you for your continued support. Despite the various challenges, including the COVID-19 pandemic being the most significant, we can all affirm the financial and economic challenges we are continuously experiencing. In spite of this, we as a credit union have remained steadfast in our commitment to enhance the quality of life of our members and their families by operating an efficient, financially sound, and sustainable credit union that provides affordable, innovative products and services.
I take this opportunity to encourage everyone to recommit ourselves to maintaining and further strengthening the financial pillar that is this, our credit union.
Attendance & Tenure
Meetings are held on a monthly basis on the second and fourth Monday of the month at 5:30 pm on the SJCCU premises and on Zoom. During these meetings, the Committee discussed and handled matters concerning the credit affairs of the organization.
Training
The Credit Committee members underwent the following training:
• Risk Committee Certification – Chairperson
• Credit Committee Duties and Responsibilities – All Members
Loan Disbursements
Our Loan Portfolio remains SJCCU’s primary source of revenue. Given the current financial and economic downturn brought on by the ongoing COVID 19 pandemic, SJCCU, through above and beyond commitment by the staff to its members, we were able to disburse for the year ended 2021 a total of $34,741,057.00. As stated below, this is a 43% increase over budgeted amount for 2021. When compared to that of prior year (2020), our loans disbursement increased by $8.3m or 32%. In spite of financial woes, the Credit Department performed better than was expected.
Loan Portfolio
Despite this increase in the disbursement amount, our Loan Portfolio growth decreased by 4.7% when compared to prior year. Total number of loans in the portfolio is now 3133.
Delinquency
SJCCU has been diligently working on decreasing the delinquency portfolio by staying on top of current loans, sending out the necessary demand and liquidation letters and rescheduling loans that meet the required qualification. In some instances, auctions have been held to recover these funds. Delinquency at the end of December 2021 stands at 10%. During the month of December, SJCCU held productive meetings with an external service provider. It is our intention to incorporate this additional resource to further reduce delinquency.
Loan Loss Provision
During the period under review, loan loss provision in the amount $7,548,152.00 has been proposed to the auditors. This is based on the IFRS 9 standard used to calculate loan loss and impairment of financial assets.
Conclusion
The Credit Committee would like to thank all members for their continued support in borrowing from your Credit Union. We encourage everyone to:
• Save for the unexpected. 2020 - 2021 has taught us the importance of having something put away for a rainy day. In this case, it is still the ongoing global pandemic.
• Borrow wisely and pay promptly.
• Buy more shares as they unlock our potential to offer larger loan amounts to our members.
These are different times and financial prudence in all things is of uptmost importance. We would love to thank the Board of Directors, Supervisory & Compliance Committee, Management and Staff for their continuous hard work as we strived to be the premier financial institution in Antigua and Barbuda that is renowned for enhancing the quality of life of its members, their families, communities, and nation.
I would like to express heartfelt thanks to the members of the Credit Committee, both past and present, for all their hard work, commitment and diligence in the year 2021.
Mr. Jermaine Paul Chairman, Credit Committee
Treasurer’s Report
Introduction
Fiscal year 2021 was another extremely challenging year for the Credit Union, Antigua and Barbuda and the world as a whole. The impact of Covid-19 had already set in with the country experiencing increase in unemployment, inflation and rising debt levels. Consequently, this resulted in extended loan moratoria programmes in the financial sector locally and regionally. Naturally, the CU continued to provide moratoriums to members to provide some measure of relief to the membership and their households.
As the pandemic continued to spread around the world, the introduction of vaccines began to provide a gleam of hope. Although there was worldwide uncertainty and scepticism of the impact and safety of the vaccines, it was understood that having the majority vaccinated was important to improve the survival rate, boost economic recovery and return to normalcy. This resulted in the recovery of the global economy as economic output expanded from the slowdown in 2020.
According to the ECCB’s 2021 Annual Financial Stability Report, despite the challenges, the ECCU financial system remained stable and resilient in 2021 and is backed by adequate capital and liquidity buffers. Recovery definitely seemed imminent, however, there were other looming risks for the region as a result of the onset of the war in Ukraine, new variations of Covid-19, Eruption of the La Soufriere Volcano in St. Vincent and the Grenadines, and increased Storm activity.
The ECCB’s 2021 Annual Financial Stability Report also highlighted that credit risk remained the most significant risk being faced by the ECCU financial system in 2021.
Consequently, the ratio of non-performing loans remained above the prudential limit. The CU did not escape this risk which was noted in the delinquency rate for the 2021 fiscal year of 11% (2020: 12%) and an increase in ECL provisioning of 36%.
Despite the increase credit risk, the CU managed to improve performance overall and partially recovered from the loss experienced in 2020. I am happy to report that the CU made a net income of approximately $1M (2020: ($1.4M)).
Key Insights and statistics
1. Loan’s portfolio
The CU’s loan portfolio increased by $9.3M/10% and concluded the fiscal year at $104M (2020: $95M). Consequently, the CU’s interest income was $9.3M which represents a 19% increase from that of prior year (2020: $7.9M). Interest yield also increased from 8.39% in 2020 to 9.05% as at fiscal year ended 2021. This was a welcomed improvement and recovery coming off of the dip in interest income performance between 2019 and 2020 fiscal year performance.
2. IFRS 9: Expected Credit Losses (ECL)
As a result of the increased credit risk, the CU experienced another year of significant ECL provision. ECL provisioning increased to $7.5M which was up from 2020’s ECL provisioning of $5.5M. This represents a $2M/36% increase in ECL provision. The increase was due to the increase in the portfolio value, the credit union’s past due history, increased credit risk in the financial sector and the negative economic outlook as a result of all the adverse regional and global events.
3. Deposits portfolio
The CU’s Total Deposits were $116.5M which was a $7.5M/7% increase from prior year balance of $109M. This is correlated to a 7% increase in active membership (2021: 11,958, 2020: 11,138) and a 9% increase in corporate membership (2021: 526, 2020: 484) during the fiscal year. This increase in deposits was welcomed in order to execute the loans portfolio growth strategies during the fiscal year.
Financial Performance
The CU’s performance increased significantly from prior year 2020 as the CU attained a profit of $999K which represents a profit
improvement of $2.3M on the loss of ($1.3M) in 2020. This was mainly as a result of the following:
• Total income of $9.8M increased by $1.6M/19% from prior year amount of $8.2M.
• ECL of $2M decreased by $1.4M/41% from prior year amount of $3.4M.
Note total expenses of $7.9M represent a 9% decrease in total expenses from prior year amount of $$8.7M.
In conclusion, the credit union outperformed prior year considerably generating 19% more income, incurring 5% less interest expense and incurring 9% less of operating expenses.
Financial Position
The credit union remained positively solvent and experienced an increase in operating activity cash flows which speaks to the credit union continuing to be a strong going concern. The credit union experienced growth in the following areas:
• Total net loans grew by 8% (2020: 7% growth from 2019).
• Loan portfolio yield of 9.05% grew by 8% (2020: 8.39%).
• Investment portfolio yield of 3.6% grew by 46% (2020:2.49%).
• Total Assets grew by 9% (2020: 7% growth from 2019).
• Total Member deposits grew by 7% (2020: 9% growth from 2019).
• Total member’s equity grew by 17% (2020: 9% decline from 2019).
• Permanent share grew by 9% (2020: 8% growth from 2019).
The credit union also retained a strong total loans/total asset of 79% and total deposits/ total assets of 88.5%, which is indicative of favourable capital management. SJCCU also ended the fiscal year 2021 with a strong liquidity position $16.7M which is up 4.8% from prior year (2020: $16M).
On the other hand, the credit union is still behind in meeting the two significant regulatory requirements for institutional capital and delinquency.
• Institutional Capital/Total Assets was 3% which is below the requirement of 10% (2020: 2%).
• Delinquency was 11% which is above the requirement of 5% (2020: 12%).
Although improvement is noted, a specifically designed strategy is required for mediumterm meaningful improvement.
Conclusion
The CU generated a profit of $999K as a result of improvement in both income and expense performance. The credit union was able to weather the storms of all the challenges being faced worldwide and was able to propel back into a position of profitability.
Commendations are in order for the Board, Management, Staff and the members for your continued support of our credit union. Let us continue to work diligently in the best interest of the credit union as we continue to chart our path to becoming a premier financial institution!
Mr. Delroy Samuel
Treasurer
Pearls & Ratios
2021 Events Collage
Member and Manager of Overstock Enterprise, Mr. Brandon Christian, Donated two (2) Contactless Thermometers
Accepting this donation - Operations Manager, Mrs. Lottoia Auguiste.
Winners of the 3rd Branch Anniversary survey.
Ms Melanie Nathaniel and Ms Alberteen Fredrick
Ms Arlene Appleton and Mr. Kurt Carter
Our Ads 2021
SAVINGS ACCOUNTS
SHARES
Your investment in your Credit Union
SAVINGS
Used for regular savings
DEPOSIT
Used for secure loans
SPECIAL DEPOSIT
Ideal for groups, associations and businesses
KICK-START JUNIOR SAVINGS
For children under 14 years to save a fixed sum each month
FIXED DEPOSIT
A fixed sum of money starting at $ saved for a specified time
$1000.00
CHEQUING
An easy way to transact business without carrying large sums of cash
INSURANCE SAVINGS
Save toward your annual Vehicle or Home Insurance
COMPULSORY SAVINGS
Save while you borrow
INSURANCE SERVICES
LOAN PROTECTION (LP)
Loans are insured at no extra cost to you against death and dismemberment up to age 69. In the event of death, the funds are applied to your loan balance.
FAMILY INDEMNITY PLAN (FIP)
Provides funds to cover funeral expenses during times of family bereavement.
GROUP HEALTH
A health care plan for indi vidual members and their families to cover medical, dental and vision care.
MY SJCCU MOBILE APP
LOAN FACILITIES
We provide members with loans for:
• Mortgages
• Land
• Education
• Starting/Expanding a Business
• Vehicles
• Furniture & Appliances
• Medical
• Weddings
• Funerals
• Travel/Vacation/Cruise
• Repair s & Renovations
• Computers & Technology
• Debt Consolidation
OTHER SERVICES
MONEY MANAGEMENT & FINANCIAL COUNSELLING
We offer advice for major financial decisions, purchases, loans and financial planning
STANDING ORDERS
A quick easy way to pay bills on time
MEDICAL AIR SERVICES
• Fully Staffed Air Ambulance Service
• Emergency Air and Ground Transportation
• Organ Retrieval
• Recuperation/Escort Transportation
SAFETY DEPOSIT
For documents
NIGHT DEPOSIT (Branch Office)
CHEQUE DROP BOX
For amounts under $10,0 00 .0 0
PAYROLL PROCESSING
Easier to pay all your staff via your SJCCU business account
CORPORATE TELLER CORPORATE OFFICE
Learn More at www.sjccu.com (Branch only)
SALARY DEDUCTIONS AND ASSIGNMENTS
We facilitate direct deposits from your salary to your account for automatic savings and easier access to our loan specials for which this is compulsory
