Greater Portland - Main Page

The Greater Portland Community Development Fund originated as a strategic mechanism to meet the need for financial empowerment of members in communities island wide who were advised to set up community-based savings groups called Community Revolving Funds. These CRF's would then operate as an arm of the Community Development Fund with its main aim to encourage member's savings and provide part security for loans from the Development Fund. Greater Portland CDF was formed to serve the East and Central part of Portland bringing together members of the Belle Castle, Hectors River and Port Antonio CRFs, hence the use of the word “Greater” in our name because there was a CDF in already existing in Western Portland .

Its first board was elected by members of the three CRFs at the 1 st meeting held on 1993 March 2. On May 26, 1994 the Community Development Fund was formally registered as GREATER PORTLAND DEVELOPMENT FUND LIMITED a company under the Industrial and Provident Societies Act and was recognized as an Approved Lending Agency of MIDA with initial share capital of ten thousand $10,000 and twenty five (25) CRF members.

 

Today this CDF is the only one remaining in the Parish serving communities as far as the borders of Saint Mary to the west and St. Thomas to the East. Membership in the CDF has grown to approximately twelve hundred (1200) CRF members and a share capital of over $500,000.00 dollars. To date the CDF has borrowed in over one hundred and million dollars from MIDA and has lent over 1580 loans totalling in excess of one hundred million dollars to the residents of Portland .