THE St Catherine Co-operative Credit Union (SCCU) honoured two of its most distinguished and long-serving board members — Silvera Castro and Herman Chambers — for almost 80 years, collectively, of service to the institution, at its recent annual general meeting at Spanish Treasure Hotel, Spanish Town.

Castro, the current chairman of the National Minimum Wage Advisory Commission (NMWAC), who is also well known for his dancing talent, was president of the SCCU for 15 years and a member of its board of directors for 37 years. He also chaired its education and building committees, as well as its negotiating team.

According to the citation, under his leadership, the SCCU experienced significant growth, including in its membership, which rose from just over 5,000 to more than 50,000 people on its register. Its assets also increased from $1.2 million to $1.5 billion, and its services became more accessible through the opening of three branches, strategically located throughout the parish.

The credit union was able to diversify its sources of income, through his efforts, by investing in additional real estate holdings. The formal documentation of operational procedures also helped to standardise the service offerings across all SCCU locations.

Castro also spent 13 years as a member of the board of directors of the Jamaica Co-operative Credit Union League Limited (JCCULL), which provides professional guidance to credit unions and other co-operatives across Jamaica.

Chambers, a native of Crofts Hill, Clarendon, who has lived most of his life in St Catherine, was credited with “dedicated, inspirational service” to the SCCU, as well as the wider St Catherine community.

As an active member of the Worthy Park Area Co-operative Credit Union Limited, he was instrumental in the amalgamation of a number of credit unions in the parish to create the St Catherine Co-operative Credit Union.

He also chaired a number of the credit union’s committees, including the supervisory, building, finance and delinquency committees, and served as treasurer for over 35 years.

In 1977, nine small credit unions in St Catherine merged to become the St Catherine Co-operative Credit Union Limited. The nine were — Ariguanabo, Awallee, Bybrook, Old Harbour, St Helen’s, St Jago, St Joseph’s, Caymanas, and Worthy Park.

The SCCU started serving 5,745 members living and/or working in the parish at the time, with savings of less than $1 million. It is now ranked fourth, in terms of membership, among all parish credit unions.