ST JAMES, Jamaica (JIS) – President of the Senate, Senator Floyd Morris, is hailing the credit union movement for helping to improve the lives of Jamaicans, particularly persons from humble economic circumstances.

Morris said he maintains membership at two credit unions because he has seen the positive impact the movement has had in helping members to realise their goals.

“I examine the matter carefully and said ‘whatsoever I have to save, I am doing so with credit unions, because when I do so, even if the interest payment is low, my poor brothers and sisters, who are members of the credit union, can benefit from a wide variety of loans and programmes. We see the efforts of the credit unions, especially as it relates to (benefits to) their members,” he said.

Morris was speaking at the Montego Co-operative Credit Union’s (MCCU) Grade Six Achievement Test (GSAT) scholarship awards function held at the Day’O Plantation Restaurant in Montego Bay on Thursday, August 13.

Sixteen children of the Co-operative’s members were presented with five-year scholarships and bursaries totalling $350,000 under the Bayley-Hay Scholarship Fund in honour of the late Josiah Bayley-Hay, who gave invaluable service to the credit union.

The students will each receive $75,000, which will be paid over their five-year tenure at high school as long as they maintain an 80 per cent average.