The University of the West Indies (Mona) and Community Co-operative Credit Union Ltd was originally called the University College Staff Co-operative Credit Union Ltd. Membership to which was open to employees of the University College of the West Indies and their families. It was registered under the Co-operative Societies Act of 1950 on the 25^th day of June 1954 by the Registrar at the time Mr. R. T. Cousins. Mr. S. Martin Brayen was the first elected President and Ms. G. Wakeland the first elected Secretary of the Co-operative Credit Union.

The Society in its inception relied to a large extent on voluntary services. Though a necessary component in the development of the Credit union, the success of the Credit Union in the subsequent years brought this practice to an end. The President at the time, Mr. Bryan lauded the members for their contribution to the Society and their collective efforts in working assiduously in promoting the success of the Credit Union but thought that it was time the Co-op embarked on utilizing paid labour. In a memorable speech dated October 14, 1958, Mr.. Bryan remarked, “…in Jamaica there is a great reliance on voluntary service when paid service could be financed”. The University Co-op was stating its claim on being a viable business that could contribute to the development of the nation and its members by providing employment opportunities, thus a new era in the Co-operative’s future was dawning.

Numerous amendments were made to the Rules of the Society as it began to evolve. The name change of the University College to the University of the West Indies in 1962 forced the Credit Union to adopt a name change of its own by losing the word College from its name to become The University Staff Co-operative Credit Union on the 17^th of October 1962. Soon after its bond was extended to not only current employees of the University and their families but also to past employees of the University. The University was also able to extend its bond when the University Hospital Co-operative Credit Union  Ltd (Unihosp) transferred all its shares and engagements to the University Staff Co-operative Credit Union by way of Amalgamation. The University Hospital Credit Union was formed for employees of the University Hospital; however numerous staff cuts resulted in the cancellation of the Co-operative. This addition to the University Staff Co-operative Credit Union resulted in not only an increase in the membership of the Society, but also allowed it to broaden its membership base to include individuals outside of the University population. This amalgamation came into effect on the 4^th of July 1995.

The Rules were further amended to allow for the extension of its membership base to surrounding communities in Papine and its neighbouring environs. This was registered on the 13^th of January 1998. The Co-operative then adopted a name change in 2001 to allow for this extension. The Co-operative was now known as the University of the West Indies (Mona) and Community Co-operative Credit Union Ltd.

The University Co-operative was no longer confined to the University and evolved into a Community Co-operative. The numerous changes that were made to the Co-operative’s constitution allowed it to be better suited to meet the needs of the mass rather than a select few and this is the principle on which the Co-operative Movement thrives on within Jamaica.

Some note worthy activities undertaken by the Co-operative includes, Credit Union Day, Caribbean Night and the Co-operative’s 50^th Anniversary Banquet. The Co-operative also introduced numerous financial solutions to fit its diverse membership base. These include:

• PLAN  “Put Little Aside Now” which is aimed at helping students to plan financially for their future.

• Golden Harvest Savings Plan

• CAMBIO

• CUMBO Mortgage Plan

•  Fixed Deposit

•  Special Car Insurance Plan

The Co-operative also received the honour of being the Credit Union of the year for 2000 and 2001.  Other Major Accomplishments are listed below:

• In 1987 the Credit Union reached $5 Million dollars in Assets.

• In 1998 the Credit Union achieved $100 Million dollars in Assets

• The Credit Union entered into mortgage partnership with Victoria Mutual Building Society.

• In 2001 dividend of 13.2% was declared from profits of the year 2000 operation and marked the largest dividend payout to date.

• Opened UTECH office, introduced CAMBIO service and began collecting tuition from students in 2001

• Offered a 50^th Anniversary commemorative graduate scholarship, worth J$200,000.00, for students in the field of Co-operatives and Entrepreneurship in 2003.