The Insurance Employees Co-op Credit Union Ltd. (IECCU) was registered under the Co-operative Societies Act and Regulations on October 28, 1977 and held the first Annual General Meeting on November 28th, of the same year. The new Board of Directors of I.E.C.C.U. borrowed $4,000.00 from the Life Underwriters Association of Jamaica (LUAJ) to furnish 120 sq. ft. of office space rented at the LUAJ's Headquarters, 72 Hope Road, Kingston 6. The office was staffed with one fulltime employee and opened for business on the 1st Monday in December 1977.
At the end of the first year IECCU outgrew its office space and had to seek more space upstairs from the owner of the property.