The Manchester Co-operative Credit Union (1977) Limited had its genesis in 1947 as a study group under the leadership of the late principal of the then Holmwood Practical Training Centre (now Holmwood Technical High School), Mr. F. R. Ricketts and his assistant the late Mr. Sydney Carter. The study group moved from house to house, sharing the vision and philosophy of the Credit Union and the prospects for the future.
The response was positive and so the movement grew at a very rapid pace, with the first members coming mainly from the staff of Holmwood and members of the immediate community. Also prominent in the study group, was the late Fr. John P. Sullivan, himself a pioneer of the Credit Union Movement in Jamaica.
The group was named the Middlesex Co-operative Credit Union and was registered under the Provident Society Act in 1948. This was before the advent of the Registrar of Co-operative Societies Act, which came about in 1950 and eventually took over Middlesex in 1951. During the developments, there was no paid staff and all the work was done by volunteers. The office was established upstairs the Emergency Drug Store owned then by the late Elsie Bailey, but later moved to share office space with the Christiana Peoples Co-operative Bank (the first such bank in Jamaica).
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The organization filled such great need, and growth was so rapid that the visionary who was Mr. F.R. Ricketts, in face of stiff opposition from some members, acquired the dwelling house and office of the late Attorney at Law Mr. George Feurtado for Four Thousand Pounds, and converted it into the registered office of the Middlesex Co-operative Credit Union Limited.
The late Messrs. Hugh Lindo and G.L. Alexander, both foundation members of Middlesex, took the message to Coleyville and there established the Coleyville Co-operative Credit Union. This also grew beyond their ability to manage it, hence in 1968 negotiation was entered into for the amalgamation of Coleyville with Middlesex. This was completed in 1972 and the new entity was named Central Co-operative Credit Union Limited.
In the meantime, Mr. G.W. Morgan and Mrs. C. Delapenha saw a need in the Mandeville area and started the Manchester movement. This operated out of premises where Mrs. Delapenha did business until an office was acquired on Hotel Street. This Credit Union was not doing very well, while central which had become the backbone of the Credit Union Movement in Manchester was making steady strides and by 1977 a second amalgamation was negotiated with Manchester and thus was born Manchester Co-operative Credit Union (1977) Limited. The name was chosen because the new vision was now for one big Parish Credit Union and since there was already a “Manchester” all that was needed to differentiate them was the year “1977”, thus Manchester (1977).
Since those days we have moved into more spacious offices, employed professional managers and staff, ventured into large development projects, the flagship of them being the Glencoe Housing Development. The statistics will show how growth has been achieved in many area –social, financial, and educational. The statistics of the Credit Union’s performance over the past 67 years tell the rest of the story.
Mission
The Manchester Co-operative Credit Union (1977) Limited is committed to maintaining a safe, visible and efficient financial institution; by providing innovative and competitive products and services in a warm and friendly environment to enhance the economic and social well-being of our members.
Vision
The Manchester Co-operative Credit Union (1977) Limited aims to be the Financial Institution of choice, providing a range of innovative Products and Services.