MCCU Annual Report - page 30

MANCHESTER CO-OPERATIVE CREDIT UNION
ANNUAL REPORT 2013
30
The Essay Competition at the primary level which was won by Ravija
Ramsamugh of Mount St. Joseph Prep School.
The Poster Competition which was won by A-Aliyah Newell of Sacred Heart
Academy.
Porus Branch Transfer
With the imminent closure and transfer of the Porus Branch operations, a communications and
public relations plan was developed and executed. This ensured consistency in the message
going out to members and the general public and also sought to effectively address members’
concerns and provide a road map for the transitional process.
During the sensitization period approximately 1,500 letters were mailed to members and text
messages totaling 4,875sent. Meetings were also held in the Porus Community on March 7
and 13 followed by notices being published in the Daily Gleaner on the 15
th
and 24
th
of March.
A member’s appreciation day was held on March 28, the branch’s final business day, where
members were treated to refreshment and introduced to the Access Plus ATM card and plans
for the launch of internet banking.
Expanded Technology Platforms
During the year, the Credit Union made further investments in technology resulting in the
following achievements:
1. A redeveloped website with direct links to Internet Banking (I-Bank) and E-Payment
services (JCUES)
2. Internet Banking Portal allowing members to view their account balances, make
loan payments and transfer funds.
3. JCUES portal which gives members the freedom to pay bills, buy credit and check
their account balances online or through their mobile phones.
4. New Youtube Video Commercial
5. Facebook Advertisements
6. Automated Text messaging
PRODUCTS & SERVICES
Product Development and Special Promotions
During the year, new products were developed and launched supported by special sales
promotions. These included the Wealth Accelerator Investment Plan, the Prosperity Loan
Special, Back to School Loan Specials and the Triple Treat Savings Spree.
Wealth Accelerator Investment Plan
This investment product gave members the opportunity to invest amounts of $50,000 and
over for periods of 6 to 36 months at a rate of 6% per annum.
Prosperity Loan Special
This Loan Special meant that members could access loan amounts of up to 10 times their
shares (maximum $300,000.00). Interest was charged at a rate of 19.95% per annum
with up to 3 years to repay.
Triple Treat Savings Spree
This saving campaign involved the active promotion of three savings products (Fixed
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