Minister Hill Urges C&WJCCU to Leverage Size for Growth

Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, delivers the keynote address during the Community & Workers of Jamaica Co-operative Credit Union Limited (C&WJCCU) 2026 Retreat held under the theme ‘Reignite. Refocus. Grow.’ at the Terra Nova All-Suite Hotel in Kingston on Friday (October 23). 

Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, has urged the leadership of the Community & Workers of Jamaica Co-operative Credit Union Limited (C&WJCCU) to leverage its size and asset base to drive sustained profitability, financial resilience and greater competitiveness.

Delivering the keynote address during the credit union’s 2026 Leadership Retreat, held under the theme, ‘Reignite. Refocus. Grow’, at the Terra Nova All-Suite Hotel in Kingston on Friday (October 23), Minister Hill emphasised that real leadership is tested during times of institutional transition.

His remarks were in reference to the institution’s 2024 merger with COK Sodality Co-operative Credit Union.

“The true test of leadership really comes when circumstances change, as yours have. An institution is tested when those changes happen, and those entrusted with its future must decide what must be preserved, what must change, what must be removed or discarded… to be bigger and stronger and more sustained for the people who hire you, who are the members of this cooperative,” Minister Hill stated.

While acknowledging the credit union’s 65-year legacy and substantial market footprint, including 416,000 members, 302 employees, $47 billion in assets, $38 billion in savings, $23 billion in loans, and 22 branches across 10 parishes, Minister Hill reminded the attendees that size alone does not guarantee long-term viability.

“Size and branches give you reach, [but] financial strength gives you resilience and the capacity to grow. Lots of companies go bankrupt with lots of assets,” Senator Hill said.

“Without strong, deliberate, and sustained financial discipline, efficient systems, and excellence in service, size, in fact, can magnify the very weaknesses you need to correct. So, you can be happy about your size. You can tell me about your asset base. [But] if you’re not making profits to keep those going, what’s the point of the numbers?” the Minister questioned.

Drawing a parallel with the continuous evolution of Mercedes-Benz, from classic luxury to Formula One performance, Minister Hill cautioned C&WJCCU executives and staff against complacency.

He emphasised that complacency in a dynamic financial marketplace risks ceding market share to major banking institutions.

“You really can’t be comfortable with what you did last month, and certainly not last year. You should be performing in such a way that [the market] cannot forget you,” Minister Hill urged, telling C&WJCCU leaders that accepting second place should not be an option.

He encouraged the leadership team to pursue excellence and continuous improvement to ensure that the credit union continues to build a stronger institution for its members.

Source: JIS