Credit unions invest more than $20m in Jamaica’s future through education

More than 400 students across Jamaica have received scholarships, bursaries, and grants as credit unions commit over $20 million to education, reaffirming their founding principle of ‘People Helping People’ and their unwavering belief that investing in young Jamaicans is investing in the nation’s future.

With 23 credit unions operating more than 110 locations islandwide and serving over one million members, the movement has played a pivotal role in Jamaica’s financial landscape. Its influence, however, surpasses the financial. Credit unions’ impact in communities through annual education support programmes has touched the lives of students at the secondary and tertiary levels, showing the ‘People Helping People’ philosophy in action. Each additional year of schooling increases individual earnings and contributes to economic growth, poverty reduction, and improved health outcomes. By supporting more than 400 students from primary through to the tertiary level, credit unions are investing directly in Jamaica’s future workforce and leadership.

The bedrock of credit unions has always been their support of education. This innate belief was on full display at ceremonies across the island throughout August and September, where students and families gathered to celebrate academic achievement and the opportunities that lie ahead. Dr Tamika Benjamin, assistant chief education officer in the Tertiary Unit of the Ministry of Education, Skills, Youth and Information, captured the spirit of the occasion, saying, “We are here to celebrate potential, perseverance and promise” during the Credit Unions of Jamaica Primary Exit Profile (PEP) and Scholarship Awards Ceremony. The ceremony honoured 17 PEP bursary recipients and two tertiary recipients from The University of the West Indies, who each received up to $500,000.00 to cover tuition and books. In a moment that drew gasps and applause, Jamaica Co-operative Credit Union League Group CEO, Robin Levy, made the surprise announcement that the PEP graduates would receive $50,000.00, doubling the $25,000.00 originally announced.

The JPS & Partners Co-operative Credit Union awarded two Founders’ Scholarships valued at $150,000 each to first-year undergraduate students, renewable for two additional years, a total commitment of $900,000. Additionally, 10 PEP bursaries valued at $20,000 each were awarded, renewable for four additional years, totalling $1,000,000.

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Speaking at the JPS ceremony held at Swallowfield Chapel in Kingston, keynote speaker Rhoda Moy Crawford, member of parliament and minister of state in the Ministry of Education, Youth, Skills and Information, commended the credit union for its commitment to the education sector.

The First Heritage Co-operative Credit Union (FHCCU) held its annual awards ceremony under the theme ‘Next Gen. Next Level’. This year’s FHCCU cohort includes five recipients of the Five-Year Primary Exit Profile (PEP) Scholarship. They are Abigail Sinclair, Tavia Jones, Jaquan Broomfield, A’Yden Treston, and Adewali Bowen, who have received the promise of continued support throughout their secondary education. Five additional students received One-Time PEP Scholarships. They are K’Andre Nelson, Juliana James, Lori-Anna Newman, Abrianna Alexander, and Maliek Ferron. At the tertiary level, repeat scholar Gayon Stewart along with Rory Dixon and Hali Thompson were awarded the Renald Mason Tertiary Scholarship, while Shania Sewell received the Oswald Thorbourne Tertiary Scholarship.

Recognising that talent and education extend beyond the classroom, the foundation also awarded Sports Education Scholarships to Venecia Vaz and Lavana Shorter, both enrolled at the G.C. Foster College of Physical Education and Sports.

The Insurance Employees Co-operative Credit Union honoured its recipients at a Special General Meeting. The credit union’s youth savers Zorianne Blackwood, who will attend Manchester High School, and John-Luke O’Connor, admitted to Campion College, each received scholarships valued at $150,000, payable in annual instalments of $30,000 over five years.

The NAJ & Health Services Co-operative Credit Union awarded $20,000 to PEP recipients Orlando Matthews, transitioning to Camperdown High School, and Akeem Samuel, a student of Excelsior Primary School, to assist with school supplies and educational needs.

Infiniti Co-operative Credit Union awarded a total of 140 scholarships, bursaries, and grants with a combined monetary value of $8.8 million, with ceremonies held at their UWI branch and other locations across the island.

Credit union bursaries and scholarships are prioritised to youth who save with credit unions, or whose parents are members. Tertiary scholarships are similarly available to members attending or preparing to attend university.

Most credit unions, including First Heritage Co-operative Credit Union, BJ Staff Co-operative Credit Union, JPS & Partners Co-operative Credit Union, and Insurance Employees Co-operative Credit Union, offer grants that support PEP students from grade seven through to grade 11, ensuring sustained assistance throughout their secondary education. This member-focused approach reflects the credit union difference – a commitment that goes beyond transactional banking to genuine partnership with members at every stage of life.

As the credit union movement looks to the future, its member-appointed leaders are planning to make a greater effort and to give more. The Credit Unions of Jamaica is committed to making a greater impact in the lives of its members through education, looking to improve and invest further as the years go on.

In a world where financial services can determine whether a family thrives or struggles, credit unions have emerged as a transformative force, providing affordable and accessible financial solutions. Their commitment to education, youth development, and community empowerment ensures that the credit union difference will continue to shape Jamaica’s future for generations to come.