Milford Williams, Gleaner Writer
The president of the GSB Cooperative Credit Union, Samuda (left), and Group Managing Director of NCB Patrick Hylton unveil the new credit card. – Contributed
IN A strategic move to expand services to its customers, GSB Cooperative Credit Union launched the GSB Keycard in alliance with the National Commercial Bank last week at Mona Visitors' Lodge at the University of the West Indies.
In his address, group managing director for NCB, Patrick Hylton said, "The partnership will increase the value of the service that GSB offers to its members while at the same time creating value for NCB so that there
is mutual benefit from this
relationship."
Mr. Hylton also said: "Strategic alliances includes doing business as usual. Alliances provide new products, markets, and smarter ways of doing things."
With this partnership, GSB Keycard holders will have access to over 9,300 merchants islandwide, which represents 80 per cent of the merchants accepting credit cards as well as enjoying the usual conveniences of bill payments.
BENEFITS
All GSB Keycard holders will benefit from Keycard promotions and conduct a range of business using e-link.
GSB is part of a network of 47 credit unions with over 100 branches across the island, collectively representing a membership of some 790,000 Jamaicans.
Over J$25 billion in savings was generated by the credit unions up to the end October 2005. Up to that time, total loan outstanding was over $20 billion or a remarkable 80 per cent of savings.
While GSB remains a top-five credit union in terms of performance, there are no immediate plans to add to the two branches they have in Kingston. The institution benefits from its core
customer base which is made up mainly of public sector employees and their families.
"Our strategy is to continue
growing savings and loan portfolio and to maintain this vigour," said the president of GSB, Charles Samuda. He pointed out that the alliance would represent the key to unlock ing opportunity and was a signature for success.
This, he says, will be a rededication to transforming the lives of their members and to maintainig their relevance.
