Annual Report 2020

JPS & PARTNERS CO-OPERATIVE CREDIT UNION LIMITED
Board Of Directors Report (Continued)
• Donation of fans to the Maxfield Park Children’s home.
• Donation of a total of seventeen (17) tablets shared
among our partnering schools being The Queen
School, St. Mary the Virgin Basic School, Polyground
Basic School and Central Branch All Age School.
These schools were gifted with the items to assist
students as they transitioned from the traditional face
to face learning environment to a completely new and
novel virtual learning space.
Health checks
Our free monthly health checks and advice to our members
had to be temporarily suspended due to the pandemic
CARE –A-Bit Fund
Our Care -a -Bit fund continues to enable us the opportunity
to provide financial support to our members who have being
affected by major illnesses and natural disasters. The Fund
now provides a maximum grant of $30,000.00 per qualified
member. Members can only benefit once from the fund.
Given the onset of the pandemic and the need for all
persons to wear a mask and practice frequent handwashing
and sanitization, your Credit Union made the decision to
provide members with these protective equipment during
the year from this fund – a departure but necessary
deviation from the usual purpose for use of the fund.
THE WAY FORWARD
As we conclude the roll-out of the 3-2-1 growth plan
presented to the Board of Directors by the management
team in December 2019, the year 2022 will be the third and
final year of this plan. As such we will be increasing our
focus on achieving the following:
• Improved annual loans growth,
• Improvement on the areas which significantly impact
our annual growth ratio
• Full implementation of a sales culture within the
organization.
• Continuous embracing and introduction of new
technology while improving on existing ones
As Credit Unions prepare to be regulated by the BOJ, your
Credit Union will continue to take all the necessary steps to
assure it readiness for licensing.
Notwithstanding the economic challenges brought on by the
pandemic, for 2022 and beyond, the Credit Union will focus
its attention on additional strategies designed to ensure the
continued improvement of its financial health and viability
as a going concern. These additional areas of focus will
include:
• Robust improvements and upgrades to our
technological platform thus enabling our members to
bank seamlessly with us.
• Ensure that the Credit Union is licensed for the
distribution of MasterCard services thus enabling our
members to access more benefits using our Access
Plus card.
• Continued improvement to our operational efficiencies.
• Continue to design and provide products and services
that will empower our several stakeholders to
successfully navigate this pandemic and emerge as
winners.
• Implement an integrated and structured training and
development for all staff and volunteers
CONCLUSION
We remain committed to being our members Financial
Partner and will continue to focus on value creation in the
development of all our products and services for our
members.
On behalf of the Board of Directors, I express sincere
gratitude to you, our valued members for your commitment
and dedication to the Credit Union over the years. I would
also like to recognize and thank the following entities and
persons:
• The Almighty God for his steadfast guidance and
assurance, the anchor that keeps us steadfast.
Your Financial Partner for Life 31 2020 Annual Report