An idea at a Board of Directors’ meeting of the Neal & Massy Engineering Limited took firm root and led to the birth of the Neal & Massy (North) Credit Union Co-operative Society Limited.
It was August 1952 and of concern to Directors at the meeting was the extent to which the company was lending to its employees to meet their domestic expenses. Given the implications for both the company and the employees the discussion sought to identify a solution. The suggestion to form a credit union was embraced and a steering committee was appointed to explore the idea. The committee commenced discussions with the Co-operative Department and by April 1953 the Neal & Massy (North) Credit Union Co-operative Society Limited was registered. At that time only employees of the company were eligible for membership.
On April 25, 1953 the Neal & Massy (North) Credit Union was registered with the following Board of Directors:
Mr. Leon A. De Gannes President
Mr. Ralph R. Rostant Vice President
Ms. Edna G. Diaz Treasurer
Ms. Doris Bayley Director
Mr. Roderick Haynes Director
Mr. Errol B. Kelly Director
Mr. Pelham G. Stewart Director
Mr. Ralph A. Seymour Director
Mr. S.T. Rochard Director
Mr. G.G. Morales Director
Mr. Victor Telfer Director
Mr. Kenneth G. Gittens Director
Ms. Edna Diaz, the first Treasurer of the Credit Union performed the role of the Manager since there was no formal office structure in the early days. The Credit Union operated from within the company, the staff of the Company performed the necessary duties with Ms. Diaz overseeing all aspects of the operations.