St. Ann's Bay - About Us

The St. Ann's Bay CDF was registered under the Industrial and Provident Societies Act on July 14, 1993. The CDF was borne out of the need to address the critical demand for a Financial Institute responsive to the needs of the Micro Sector in the parish. The situation arose mainly from the non-participation of the St. Ann's Credit Union in the MIDA programme and the inability of the Self-Start Fund to adequately serve the need of the parish.

Efforts to consummate the establishment of the CDF began with Mr Hugh Powell, after obtaining the required cooperation and agreement of prominent private sector leaders. An inaugural Board Meeting was held at the Marcus Garvey Secondary School in February 1993. The equity base of the CDF was formed from SESP contributions from former and present Members of Parliament such as Honourable Seymour Mullings, Burchell Whiteman, Neville Gallimore, Danny Meville and Manley Bowen.

To date the CDF has disbursed 901 loans valuing $95.2M. Majority of the loans disbursed falls in the Service and Trading Sector with a value of $70.3M or approximately 74% of the total portfolio. The CDF will remain the main vehicle through which the entrepreneurial spirit will unleash throughout the communities of St. Ann. The CDF remains non-sectarian, non-political and non-denominational and will continue to provide an official service to the people of St. Ann.

 

Mission Statement
The St. Ann's Bay CDF is guided by its Mission Statement, which states "To Broaden the Economic Endeavours of Our Members and to increase their Productive Capacity Through Savings, Credit and Training."