On October 26th, 1944, 22 members of staff of the Government Saving Bank, met to study the rules of the Cooperative Movement as a positive response to the urging of the Jamaica Cooperative Credit Union League to form a Credit Union. GSB Clerks Cooperative Credit Union was formed and registered on July 2nd, 1946 under the Industrial Provident Societies Law. The first meeting of the Board was held on July 25th, 1946 and by the end of that year the Credit Union had recruited 62 members. With the takeover of the Metropolis Cooperative Credit Union in January 2000, with membership of 1862, GSB now has over 20,000 members.

Membership in the Society was originally restricted to members of staff of the Government Savings Bank, however the rules were later amended to make all civil servants eligible for membership. Another amendment in March 1948 broadened the membership eligibility to include spouses and children and staff of the Statutory Boards and Public Corporations. GSB's bond has since been widened to include brothers, sisters, nieces, nephews and parents of members. In accordance with the amendments to the bond the name was changed to omit "Clerks" from the official name of the Credit Union, the official name of the Credit Union now being GSB Co-operative Credit Union Limited.

The GSB Credit Union boast some of the best rates on short and long term savings in the movement and I dear say in the commercial banking sector. These are rates ranging from 12.5% on regular saving accounts and a range of 14% to 17.5% per annum on fixed instruments.

These instruments are attractively packaged to provide benefits for persons of any income bracket with options starting from as low as $2,000 to accommodate just about any savings pattern.

Though this may not be a well-known fact the Credit Union provides short term and long term fixed investment as well as preferential rates in may cases to members who wish to invest large amounts. Additionally, members investing funds for over five years toward retirement or any other loan term goal can earn tax-free interest on their funds.

These savings instrument are balanced by the loan options also available at the Credit Union. Members of the GSB Credit Union may access loans for just about any legal purpose in mind: Loans for education, motor vehicles and mortgages to name just a few. Two principles guide our loan policy; the member’s ability to secure and repay the loan.

The organization presently hosts and sponsors an annual Christmas treat for the children of the Kingston Garden Community and has assisted the Sickle Cell Support Club of Jamaica. Donations are also given annually to the Bellevue Hospital and scholarships provided for final year tertiary level students through the Renald Mason Scholarship Awards.Links to: http://www.gsbcu.com/loan_main.htm