JPS & Partners 2016 Annual Report

Minutes of the 61st AGM (Continued)
CREDIT COMMITTEE REPORT
The President marshaled the Credit Committee Report. She
asked for a motion to take the report as read. The motion
was moved by Margaret Morris and seconded by Melinda
Lloyd. The President announced the names of the
committee members as Leroy Wilson, Tricia Robinson,
Arlene Laidlaw, Everoy Mardener and Phillip Lewis.
One matter arose from the Credit Committee Report where
Mr. Winston Delahaye stated that when he did the
calculation of the average motor vehicle, $104.54 Million and
24 loans approved, the amount was $4 Million. He
questioned whether the Credit Union lent loans for $1.5
Million. The President provided the response. A motion for
the acceptance of the report was moved by Winston
Delahaye and seconded by Sonia Smith.
THE LEAGUE DELEGATES REPORT
Being invited by the President to do the report, Mr. Derrick
Tulloch stated where the report could be found and invited a
motion for the report to be taken as read. The motion was
moved by Kim Robinson and seconded by Margaret Morris.
Going through the highlights, he told the members that the
League’s Annual Conference was held in Montego Bay, in
May 2015, and that a number of presentations were done by
local and overseas presenters. He stated that the
Movement’s savings grew by 6.7%, loans grew by 6.05%,
and assets grew by 7.34% and membership by 1.65%. He
added that in the banking sector the cost of funds was much
lower than what existed in the Credit Unions. He noted that
at the Credit Union, interest was paid on all deposits and that
in the commercial banks there were current accounts on
which zero interest was paid. He therefore urged members
to save with their Credit Union. Continuing his presentation,
Mr. Tulloch stated that a number of awards were made at the
Annual Conference. He told the gathering that the JTA Cooperative
Credit Union won the award for Mega Credit
Unions; NCB Employees Co-operative Credit Union for largesized
Credit Unions; Postal Co-operative Credit Union for
medium and Nestle Co-operative Credit Union for credit
unions in the small category.
He concluded the report by stating that the JPS & Partners
Co-operative Credit Union continued to play a vital role in the
national Movement and continued as a body to support the
objectives and goals of the Credit Union Movement. He
invited a motion for the acceptance of the report. The motion was
moved by Lloyd Mordecai and seconded by Ronald Thomas.
RESOLUTIONS
The President, before inviting Secretary Vaughn McDonald,
told the meeting that there will be a presentation in terms of
the Resolutions. She explained that one of the resolutions
Our youth members line up to get registered for our Children’s Village.
JPS & Partners Co-operative Credit Union Ltd. 14 ANNUAL REPORT 2016