KINGSTON, Jamaica—Minister of National Security, Dr Horace Chang, is commending the Jamaica Police Co-operative Credit Union Limited (JPCCU) for providing support to members of the Jamaica Constabulary Force (JCF).

Speaking during yesterday’s virtual launch of the JPCCU, Chang said “this new Deferred Share offer will add significant value to the financial security of the officers who continue to serve the people of Jamaica.”

The minister said that the duties of police officers come with high risks as they focus on the safety and security of the Jamaican society and as such “they too require a financial safety net that gives them a sense of security.”  

“These alternate avenues to financial security contribute to the dynamic, stable and safe financial sector. It will also better position our p.olice officers for long-term financial and economic security,” Chang added

Meanwhile, President and Chief Executive Officer of MoneyMasters Limited, Claudette Crooks, explained that there are several benefits attached to the new Deferred Share offer, including: access to JPCCU loans by employees of the Ministry of National Security.

“Members will receive dividends every three months and a 7 per cent return rate fixed over the entire life of the investment. A portion of the proceeds will be made available to members as loans to cater for their children’s education and the tenure of the instrument is for 63 months,” she added.

The JPCCU’s Deferred Share offer which is valued at $110 million is held by members for a maximum of five years.

JPCCU has been assisting members of the JCF for 65 years and is the seventh largest credit union movement in Jamaica with a membership of over 22, 000.