Correction & Clarification
The Gleaner apologises for the headline 'FHC to close sub-branch after robbery', published in The Sunday Gleaner of September 1, 2013. The Gleaner accepts that the headline may have conveyed the impression that the reason for the closure of the Lawrence Tavern branch of First Heritage Co-operative Credit Union (FHC) was on account of a robbery referred to int he body of the story. It was not the intention of The Gleaner to cause readers to make a casual link between the two clauses. The Gleaner apologises to FHC for any inconvenience encountered because of the headline.
First Heritage Co-operative Credit Union (FHC) plans to integrate the operations of its Lawrence Tavern sub-branch with those of the Eureka Road and New Kingston branches.
FHC chief executive officer Basil Naar said the consolidation, to be finalised by September 30, will affect approximately 2,000 members.
But he said the transition will be seamless as the Lawrence Tavern sub-branch was always under the management of the Eureka Road operation.
The process began "a few months ago", with no expectations of major disruptions "except that those customers will be required to go to a different branch to do business," Naar told Sunday Business.
The integration is part of the continued rationalisation of operations for efficiency following the merger of Churches and GSB credit unions. FHC was created from the merger in August 2012.
"Consolidation is a very simple thing because everything is centralised. We don't have to move accounts physically from one place to the other. It is a matter of advising the customers and giving them notice in a respectable way," Naar said.
FHC is a J$8-billion operation by assets. Its membership numbers 165,000 served from a network of nine main branches and two sub-branches as well as a separate mortgage unit. The other sub-branch is in Trench Town.
This consolidation follows a recent robbery at the Lawrence Tavern branch in July. Its day-to-day transactions are handled by two staff, both of whom will transfer to Eureka Road, Naar said.
"One of the things I must note about these mergers is that we have not had any redundancies, not even when we were doing the main merger last year," he said.