Today is: 21/03/2019 12:41:34 AM

History - Gateway Co-operative Credit Union (2017) Limited










 
 

Gateway Co-operative Credit Union (2017) Limited was formed from the merger of Montego and Hanover Co-operative Credit Unions on January 3, 2017. Montego Co-op Credit Union (Montego) began from its humble beginnings in 1969 - operating out of St. Paul’s church on a four-hour per week basis; the Montego Bay Credit Union is truly a huge success story. It was formed from the amalgamation of two struggling financial entities, St. James and St Paul’s Credit Unions. Montego was able to capitalize on each other's gains and strengths to overcome their individual losses and weaknesses.

Hanover Co-op Credit Union started with the vision of Mrs. Enid Watson Gonsalves during a discussion of the value of 10 cents, 20 cents and 25 cents by ten persons in December 1974. The aim was to start a savings club towards exchange of gifts for Christmas 1975. Through progressive and forward thinking the group savings club was started where persons were saving 20 cents per week. The club practiced safety and soundness by investing the savings in a Financial Institution and kept their ledger and cash books. The United Church of Jamaica and Grand Cayman Church Hall was the meeting place for collection every Tuesday. So it could have been destiny for these two credit unions to merge as they both started with a United Church background.

As a single entity, Gateway is now the fourth-largest credit union in Jamaica, amassing membership of approximately 70,000 and total assets of $6.1 billion. Not only has the fusion of the two credit unions resulted in a single robust organization, Gateway has emerged with numerous benefits for the more than 70,000 persons who make up its membership, which span the county of Cornwall (Trelawny, St James, Hanover, Westmoreland and St. Elizabeth).

With less than six (6) months into operation, Gateway is achieving healthy growth in membership, savings and loans by providing better services to its members. The new credit union is empowering its members socially and financially through a wider range of products and services offerings more branches as well an increase in the use of technology to achieve better returns on their membership investment.

In Hanover, Gateway operates at its new state-of-the-art building on Main Street in Lucea, while in St. James it operates from two (2) locations, one at 6 Sam Sharpe Square and another at 20 Church Street in Montego Bay, which houses the credit, human resource and finance departments. There is one common transaction platform so our members can transact business from either the Montego Bay or Lucea branch.



Our Vision

To be the premier financial institution by empowering our members for success, through innovative products and services.



Mission

To empower our members by providing excellent service and sound financial guidance to create partnerships that will result in prudent, progressive and competitive business decisions yielding mutual success.



Tagline
“Opening the way to Your Financial Success”


Core Values
  • • We are open, honest, and accountable to our stakeholders

  • • Team members are committed to the organization's success and sustainability

  • • We actively engage in community development

  • • We are committed to the social and economic development of our members.

  • • Team members' well-being is highly valued.

  • • We foster a friendly and professional environment in which to conduct business

  • • We celebrate success

  • • We reward performance

  • • We see our members as family

  • • We are committed to service excellence.

  • • We can be relied on for our financial stability and security.