![\"CandWJ\"](\"https:\/\/cfi.co\/awards\/wp-content\/uploads\/2020\/06\/CandWJ.jpg\")
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At the Community and Workers of Jamaica (C&WJ) Co-operative Credit Union, the driving modus operandi goes beyond the profit motive to address social inequality, increase financial inclusion and give back to the communities where it operates. C&WJ is currently the largest credit union in Jamaica, with over 20 branch locations serving more than 120,000 members. The Credit Union promotes financial inclusion by extending membership to some of the poorer regions of the island, meeting difficult Know-Your-Customer (KYC) requirements for formal mailing addresses with a flexible, common-sense approach for dwellings that lack street names and numbers. C&WJ has developed underwriting standard that assesses applications\u2019 demonstrated ability to earn rather than their full-time employment status to determine their eligible credit line. The underwriting standards ensure that C&WJ keeps arrears down to acceptable ratios and sets provisions against loan defaults. C&WJ offers its members \u2013 who are from a wide cross-section of persons in various industries and professions \u2013 a full suite of financial services from savings to specialty loans for homes, autos or education. C&WJ places education at the forefront of its social outreach initiatives. In 2018, C&WJ Co-operative Credit Union awarded over $5 million in scholarships, bursaries and grants at the tertiary and secondary levels: $3 for students pursuing programmes at the tertiary level and 95 scholarship and bursaries valuing over $2 million were granted to children of members throughout the branches of the Credit Union. The CFI.co judging panel commends the Co-op\u2019s educational emphasis and is delighted to recognise C&WJ Co-operative Credit Union as the 2019 winner of the Best Social Impact Financial Solutions (Jamaica) award.<\/p>\n","protected":false},"excerpt":{"rendered":"
At the Community and Workers of Jamaica (C&WJ) Co-operative Credit Union, the driving modus operandi goes beyond the profit motive to address social inequality, increase financial inclusion and give back<\/p>\n","protected":false},"author":1,"featured_media":7648,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[41,35,53,38],"tags":[],"class_list":["post-7646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-community-engagement","category-development","category-front","category-government"],"yoast_head":"\n