News

Grace Cooperative Union Takes Win As Medium Sized Credit Union for 2017

Congratulations are in order for Grace Cooperative Credit Union, which on May 18, 2018 became the winner of the trophy for the Paul Thompson Medium Sized Credit Union of the Year 2017 at the Jamaica Cooperative Credit Union League’s Annual General Meeting and Convention. 

Well done!Hope Mowatt, Manager of Grace Cooperative Credit Union, accepts the Medium Sized Credit Union of the Year from Lambert Johnson, 2^nd VP, Board of Directors of the Jamaica Cooperative Credit Union League

The standard of assessment used is based on the Protection, Effective financial structure, Asset quality, Rates of return and cost, Liquidity and Signs of growth (PEARLS). These are ratios utilized by credit unions, to which weights are applied based on their impact on credit union safety and soundness. The Grace Cooperative Credit Union last won this award in 2003, having taken the runner-up position in the years 2006, 2008, 2013 and 2016.