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Credit unions donate $4.2m to Haiti rebuilding effort

Published:Saturday | February 20, 2010 | 12:00 AM

The Jamaica Cooperative Credit Union League (JCCUL), the umbrella group for the nation's credit unions, has donated $4.2 million to assist Haiti in its rebuilding effort after last month's devastating quake.

President of the JCCUL, Yvonne Ridguard, told
The Gleaner
last week that the sum was collected from the 45 credit unions in Jamaica, after an appeal was launched following the temblor.

"The maxim that the credit union movement lives by is 'people helping people'. Therefore, if our neighbours are in need of help, we have to assist," Ridguard said.

The money collected was sent to the Caribbean Confederation of Credit Unions in Barbados on February 10. Ridguard said the funds would be routed to Haiti, in which 140 credit unions operate.

The January 12 disaster did not spare the financial sector, with a number of credit unions sustaining structural damage. Others were vandalised in the wave of lawlessness that swept the capital and nearby townships as the central government collapsed.

"After the earthquake, persons vandalised a number of the banks, so they need any help they can get," the JCCUL boss said.