JPS & Partners 2016 Annual Report

Minutes of the 61st AGM (Continued)
branching network. She stated that, that might be the
option for the western part of the country. She told the
members also that plans were in place to target family
members particularly at the Ewarton Branch, as well as to
expand the School Savers Programme to look at schools in
St. Catherine.
Delinquency
The President noted that there was a reduction in terms of
delinquency from 4.72% to 2.33% for 2015. However, she
stated that the Credit Union had to be careful in the granting
of loans as well as the safeguards that were put in place for
giving those loans. She added that two loans going bad
could wipe out the Credit Union’s surplus. Members were
informed that several financial houses were now releasing
credit information on their customers to various institutions,
and as a result the Credit Union was benefiting from this
sharing of information.
Composition of the Board
She noted that the term limit rules which were previously put
in place were in effect. She said that the Board started out
with thirteen (13) volunteers, reduced to eleven (11) and will
revert to nine (9) based on the mandate that was given to
the Credit Union. She subsequently introduced the members
of the Management Team of the Credit Union and stated that
the Credit Union had a staff complement of thirty one (31)
permanent employees and ten (10) contract employees.
She invited the members to view their photographs in the
Annual Report.
Adoption of Schools
Speaking to the growth in the area of youth, the President
stated that the Credit Union had adopted Central Branch All-
Age School, St. Mary the Virgin Basic School, Merrion Basic
School, Polly Ground Basic School and St. John Bosco
Boys Home. She also stated that the Credit Union hosted
a number of summer camps. The President singled out the
handing over of a donation to the St. John Bosco Boys
Home by herself and other Credit Union representatives.
She highlighted the several self-sufficiency projects in
operation by these abandoned children – pig and chicken
rearing, baking and catering. She encouraged members to
seek to act as mentors for these boys.
Operational Highlights
Based on the soon-to-be enacted Bank of Jamaica
Regulation, the President said that the Credit Union had
reviewed the organization’s structure and had also done a
business plan. She noted that job descriptions (JDs) were
reviewed and that a Human Resource (HR) consultant was
engaged to develop among other things a structure for the
President, Natalie Sparkes discusses a point from the Annual Report with General Manager, Joydene Jarrett and Treasurer,
Delroy Redway.
JPS & Partners Co-operative Credit Union Ltd. 8 ANNUAL REPORT 2016