Water Conservation Essay Example for Free

Water Conservation Essay United States postal stamp advocating water conservation. Water conservation encompasses the policies, strategies and activities to manage fresh water as a sustainable resource, to protect the water environment, and to meet current and future human demand. Population, household size and growth and affluence all affect how much water is used. Factors such as climate change will increase pressures on natural water resources especially in manufacturing and agricultural irrigation.[1] The goals of water conservation efforts include: To ensure availability for future generations, the withdrawal of fresh water from an ecosystem should not exceed its natural replacement rate. Energy conservation. Water pumping, delivery and waste water treatment facilities consume a significant amount of energy. In some regions of the world over 15% of total electricity consumption is devoted to water management. Habitat conservation. Minimizing human water use helps to preserve fresh water habitats for local wildlife and migrating waterfowl, as well as reducing the need to build newdams and other water diversion infrastructures. Contents [hide] 1 Strategies 2 Social solutions 3 Household applications 4 Commercial applications 5 Agricultural applications 6 See also 7 References 8 External links Strategies[edit] In implementing water conservation principles there are a number of key activities that may be beneficial. 1. Any beneficial reduction in water loss, use and waste of resources. 2. Avoiding any damage to water quality. 3. Improving water management practices that reduce or enhance the beneficial use of water.[2][3] Social solutions[edit] Drip irrigation system in New Mexico Water conservation programs involved in social solutions are typically initiated at the local level, by either municipal water utilities or regional governments. Common strategies include public outreach campaigns,[4] tiered water rates (charging progressively higher prices as water use increases), or restrictions on outdoor water use such as lawn watering and car washing.[5] Cities in dry climates often require or encourage the installation of xeriscaping or natural landscaping in new homes to reduce outdoor water usage.[6] One fundamental conservation goal is universal metering. The prevalence of residential water metering varies significantly worldwide. Recent studies have estimated that water supplies are metered in less than 30% of UK households,[7] and about 61% of urban Canadian homes (as of 2001).[8] Although individual water meters have often been considered impractical in homes with private wells or in multifamily buildings, the U.S. Environmental Protection Agency estimates that metering alone can reduce consumption by 20 to 40 percent.[9] In addition to raising consumer awareness of their water use, metering is also an important way to identify and localize water leakage. Water metering would benefit society in the long run it is proven that water metering increases the efficiency of the entire water system, as well as help unnecessary expenses for individuals for years to come. One would be unable to waste water unless they are willing to pay the extra charges, this way the water department would be able to monitor water usage by public, domestic and manufacturing services. Some researchers have suggested that water conservation efforts should be primarily directed at farmers, in light of the fact that crop irrigation accounts for 70% of the worlds fresh water use.[10] The agricultural sector of most countries is important both economically and politically, and water subsidies are common. Conservation advocates have urged removal of all subsidies to force farmers to grow more water-efficient crops and adopt less wasteful irrigation techniques. New technology poses a few new options for consumers, features such and full flush and half flush when using a toilet are trying to make a difference in  water consumption and waste. Also available in our modern world is shower heads that help reduce wasting water, old shower heads are said to use 5-10 gallons per minute. All new fixtures available are said to use 2.5 gallons per minute and offer equal water coverage. Household applications[edit] The Home Water Works website contains useful information on household water conservation.[11] Contrary to popular view, experts suggest the most efficient way is replacing toilets and retrofitting washers.[12] Water-saving technology for the home includes: 1. Low-flow shower heads sometimes called energy-efficient shower heads as they also use less energy 2. Low-flush toilets and composting toilets. These have a dramatic impact in the developed world, as conventional Western toilets use large volumes of water 3. Dual flush toilets created by C aroma includes two buttons or handles to flush different levels of water. Dual flush toilets use up to 67% less water than conventional toilets 4. Faucet aerators, which break water flow into fine droplets to maintain wetting effectiveness while using less water. An additional benefit is that they reduce splashing while washing hands and dishes 5. Raw water flushing where toilets use sea water or non-purified water 6. Waste water reuse or recycling systems, allowing: Reuse of graywater for flushing toilets or watering gardens Recycling of wastewater through purification at a water treatment plant. See also Wastewater Reuse 7. Rainwater harvesting 8. High-efficiency clothes washers 9. Weather-based irrigation controllers 10. Garden hose nozzles that shut off water when it is not being used, instead of letting a hose run. 11. Low flow taps in wash basins 12. Swimming pool covers that reduce evaporation and can warm pool water to reduce water, energy and chemical costs. 13. Automatic faucet is a water conservation faucet that eliminates water waste at the faucet. It automates the use of faucets without the use of hands. Commercial applications[edit] Many water-saving devices (such as low-flush toilets) that are useful in homes can also be useful for business water saving. Other water-saving technology for businesses includes: Waterless urinals Waterless car washes Infrared or foot-operated taps, which can save water by using short bursts of water for rinsing in a kitchen or bathroom Pressurized waterbrooms, which can be used instead of a hose to clean sidewalks X-ray film processor re-circulation systems Cooling tower conductivity controllers Water-saving steam sterilizers, for use in hospitals and health care facilities Rain water harvesting Water to Water heat exchangers. Agricultural applications[edit] Overhead irrigation, center pivotdesign For crop irrigation, optimal water efficiency means minimizing losses due to evaporation, runoff or subsurface drainage while maximizing production. An evaporation pan in combination with specific crop correction factors can be used to determine how much water is needed to satisfy plant requirements. Flood irrigation, the oldest and most common type, is often very uneven in distribution, as parts of a field may receive excess water in order to deliver sufficient quantities to other parts. Overhead irrigation, using center-pivot or lateral-moving sprinklers, has the potential for a much more equal and controlled distribution pattern. Drip irrigation is the most expensive and least-used type, but offers the ability to deliver water to plant roots with minimal losses. However, drip irrigation is increasingly affordable, especially for the home gardener and in light of rising water rates. There are also cheap effective methods similar to drip irrigation such as the use of soaking hoses that can even be submerged in the growing medium to eliminate evaporation. As changing irrigation systems can be a costly undertaking, conservation efforts often concentrate on maximizing the efficiency of the existing system. This may include chiseling compacted soils, creating furrow dikes to prevent runoff, and using soil moisture and rainfall sensors to optimize irrigation schedules.[9] Usually large gains in  efficiency are possible through measurement and more effective management of the existing irrigation system. The 2011 UNEP Green Economy Report notes that [i]mproved soil organic matter from the use of green manures, mulching, and recycling of crop residues and animal manure increases the water holding capacity of soils and their ability to absorb water during torrential rains, [13] which is a way to optimize the use of rainfall and irrigation during dry periods in the season.

Antwone Fisher Essay -- essays research papers

Antwone Fisher in my opinion is probably the most impactful movie I have ever seen. People may say, â€Å" What a good movie† but I say â€Å"what a good man†.   Ã‚  Ã‚  Ã‚  Ã‚  Antwone Fisher grows up living in a foster home where he is beaten, mentally and sexually abused. After spending time in an orphanage he doesn’t know what to do with his life. After thinking about it he decides to join the Navy. The movie picks up with Antwone as a young sailor who has a problem controlling his anger. Sent to a psychiatrist (played by Denzel Washington) he slowly begins opening up, learning to confront the past that has fostered his long-standing rage. Washington's psychiatrist becomes Antwone's substitute father figure, the person who teaches him to drop his guarded resentment, and assures him that he has the strength to face the buried traumas of his childhood. And, this being the kind of movie where everyone learns from everyone else, Antwone's courage persuades Washington's character to own up to his own traumas.   Ã‚  Ã‚  Ã‚  Ã‚  Throughout the movie, Antwone just keeps on getting in fights and getting sent back to the psychiatrist. One fight in particular changed his life. One of his fellow shipmates taunts him about being a virgin. They fight and then he gets sent back to the psychiatrist. The psychiatrist then tells him to go find a girl to go on some dates with. He finds a girl that he has been friends with for a while, and asks her on a date. He went on a da... Antwone Fisher Essay -- essays research papers Antwone Fisher in my opinion is probably the most impactful movie I have ever seen. People may say, â€Å" What a good movie† but I say â€Å"what a good man†.   Ã‚  Ã‚  Ã‚  Ã‚  Antwone Fisher grows up living in a foster home where he is beaten, mentally and sexually abused. After spending time in an orphanage he doesn’t know what to do with his life. After thinking about it he decides to join the Navy. The movie picks up with Antwone as a young sailor who has a problem controlling his anger. Sent to a psychiatrist (played by Denzel Washington) he slowly begins opening up, learning to confront the past that has fostered his long-standing rage. Washington's psychiatrist becomes Antwone's substitute father figure, the person who teaches him to drop his guarded resentment, and assures him that he has the strength to face the buried traumas of his childhood. And, this being the kind of movie where everyone learns from everyone else, Antwone's courage persuades Washington's character to own up to his own traumas.   Ã‚  Ã‚  Ã‚  Ã‚  Throughout the movie, Antwone just keeps on getting in fights and getting sent back to the psychiatrist. One fight in particular changed his life. One of his fellow shipmates taunts him about being a virgin. They fight and then he gets sent back to the psychiatrist. The psychiatrist then tells him to go find a girl to go on some dates with. He finds a girl that he has been friends with for a while, and asks her on a date. He went on a da...

Does Immigration Contribute to a Better America

Does Immigration Contribute to a Better America? Ever since this country was first discovered and settled, people from countries all over the world left their homelands and migrated to the â€Å"New World†. People from Spain, Germany, France, England and Asia traveled great distances to reach a new land of opportunity, to perhaps escape religious persecution or tyrant rulers. For centuries America has been viewed as a place for a fresh start, a place where anybody can come and begin a new life and follow their hopes and dreams. Even today people come to America for the exact same reasons that they did all those years before.However unlike the immigration of our ancestors, the immigrants of today aren’t able to just come here and do what they want without anybody noticing. Today most people view immigration as a problem to the United States. One of the most easily recognizable groups of today’s immigrants comes from Mexico. The Mexican immigrants often come here f or better economic and living opportunities than they had at home. But no matter how much these immigrants want to better their lives for themselves and their families, most Americans feel that they are trouble and a drain on our resources.Despite what many think, the Mexican immigrants are helping our nation. The immigrants take many low end jobs that Americans do not want or are over qualified for, they can also boost our economy with the money they earn from working, and they diversify the nation. Immigration does and will contribute to a better America. Most of the immigrants that come to America from Mexico are just looking for a better life for themselves and their families. The immigrants know that there are plenty of jobs in America for them and they are willing to risk being arrested just for a better opportunity.With all these people eager to work, you would think the immigrants would be more accepted by the American people. There are many jobs that most Americans simply w ill and do not want to take due to low pay and amount of work. But thanks to immigrants that would love to have the opportunity to work in our country these jobs are taken. With each immigrant that comes and gets a job, more money is spent within the American economy. The more money spent in the economy will eventually help it grow making us a more prosperous nation financially.The more money the immigrants spend in the US the more demand they cause for the people who make the goods they purchase. But the immigrants do not only help our country when they make money in the US, many send money home to their loved ones to help pay for things they need. Immigration does not only help the economy of the US, it also benefits the country that the immigrant comes from. According to Philippe Legrain, a journalist and economist, â€Å"migrants from poor countries working in rich ones send home much more – $200 billion a year officially,† (The Case for Immigration).With all this money coming and going from immigrants, it’s unbelievable that we look down on immigration. The people who make the immigration laws are blind to the fact that the migrants help our economy. Instead of trying to keep migrants out we should allow them easier access into our nation for work, and then when they are ready they should be allowed to leave. Once immigrants get into the US many become stuck and unable to go home because it is too risky. If we allowed them to move freely most would just come temporarily to get enough money for what they need back home.According to Legrain, â€Å"Most migrants do not want to leave home forever: they want to go work abroad for a while to earn enough to buy a house or set up a business back home. † (The Case for Immigration). Of course some of the migrants would want to stay, but there wouldn’t be an overwhelming number of them. The immigrants that do settle would not only contribute to our work force and economy, they will add diversity to our country. Having many people from all over the world is something that can be beneficial to any country. Many of America’s venture-capital backed start-ups have immigrant founders. Legrain) With introduction of new peoples come new ideas, cultural experiences, and skills that can all be used to benefit our country. High skilled people from other countries could help American companies develop new drugs, technologies, appliances and even new architectural ideas. † Twenty-one of Britain’s Nobel-prize winners arrived in the country as refugees. † (Legrain) The foreigners with new ideas could spark the next big American innovation with their different ways of thinking and perspective. Since they are new to our country they see differently than we do, and can have a completely different view on things.This cultural diversity can also transform little towns into cities with the new people inhabiting them. The immigrants could bring in their c ultures and help build our towns into culturally diverse cities that would maybe attract tourists and new residents. Although there are many benefits of immigration, many believe that the immigrants would take away from American workers and steal jobs. However this is not true, many immigrants cannot compete with American workers due to skill differences and jobs they are willing to do.Also, there aren’t a fixed number of jobs going around for everyone, and immigrant workers are not substitutes for American ones. These fallacies are really what deter many American people from lowering the immigration laws and allowing more immigrants into the country. If the people of our country knew the benefits of having more immigrants, the laws wouldn’t be so strict and more migrants would be allowed to come and work in our country. It is time that the government really recognizes the benefits of immigration to our country.More immigrants means more working people, more working pe ople means a lower unemployment rate and more money being spent in our country. The more money spent in the US means a better economy which is something that this country needs. We need to allow the immigrants into our country not only to help us, but to help them make money for themselves and their families. If America truly is an equal opportunity country, then we need to give all people the same opportunities. Sources: â€Å"Philippe Legrain. † The Case for Immigration :. N. p. , n. d. Web. 27 Sept. 2012. http://www. philippelegrain. com/the-case-for-immigration/.

What is a credit union - Free Essay Example

Sample details Pages: 9 Words: 2830 Downloads: 8 Date added: 2017/06/26 Category Economics Essay Type Narrative essay Did you like this example? A credit union is a co-operative financial institution, which is owned and controlled by its members. Credit unions are not-for-profit, and exist to provide a safe, convenient place for members to save money and obtain loans and other financial services at competitive rates. Members of a credit union share a common bond, such as their occupation, where they live or attend church. Don’t waste time! Our writers will create an original "What is a credit union?" essay for you Create order (Credit Union League 2004). The Jamaica Credit Union League, a co-operative central body embracing all the credit unions in the island was founded in 1942. The League was a voluntary association, which was democratically controlled and financed by its member credit unions. With the establishing of this League headed by Father John Peter Sullivan, the Movement now had an organization whose objectives included: representing its members by contacting the Government about issues such as legislation, conducting central business services, receiving deposits from Credit Unions and other Co-operative Societies, making loans to its member credit unions and also to undertake investments for the member credit unions by organizing new credit unions. Member societies paid fees of ten cents (10c) per annum per individual member to access the Leagues services. In March, 1949 the League established the deposit and loan section which required that credit unions to deposit sums equal to their statu tory reserves. These credit unions could obtain loans at the rate of 5% per annum to meet their own lending demands.  [i]  Later individual members of credit unions were granted loans on the recommendations of their Credit Unions at the rate of 6%per annum. (Credit Union League 2004). The aim of the Credit Union is to provide a wide range of services to meet the needs of its members and to provide a safe place for savings and completive interest rates on loans. WHAT IS A DEVELOPMENT BANK? The Development bank of Jamaica was established on April 1, 2000 (Development bank of Jamaica, 2007) there was a merger between two owned Government of Jamaica institutions, which were the Agricultural Credit Bank and the National Development Bank Of Jamaica Limited. The Agricultural Credit Bank and the National Development Bank were founded in 1981.The Development Bank of Jamaica was governed by the Ministry of Finance and Planning and the board members, which was appointed by the Ministry. According to Development bank of Jamaica (2007) it is stated that the bank provides the following: it facilitates development financing to the productive sectors primarily in the areas of agriculture, agro-processing manufacturing, information processing tourism, service and mining and quarrying. It helps with credit principally through a wide range of Approved Financial Institution (AFIs), including Commercial and Merchant Banks, Peoples Cooperative Bank; Credit Unions are private sectors deve lopment financial institution. They invested in the agricultural, manufacturing, tourism, agro-processing, quarrying and mining and services sectors. They also play a critical role in non-credit activities principally with respect to the upgrading of the Peoples Cooperative Banks as well as providing assistance to a number of sub-sectors which have faced difficulties. With these roles the development banks seeks to endorse economics development within the developing countries. iiCaribbean Development Bank intends to be the leading catalyst for development resources into the Region, working towards the systematic reduction of poverty through social and economic development. They assist with borrowing member countries to the use of their resources, developing their economies and increase production and trade. They encourage private and public investment, development of the financial upturn in the region and helps business activities and expansion. Developments Banks aimed to mobili ze their resources from both within and outside the region for development. These banks provide technical assistance to its regional borrowing members, support regional and local financial institutions and a market for credit savings. They also support and stimulate the development of capital markets within their region. Their vision is to facilitate economic growth, development, job creation resulting in an improved for all Jamaicans. To be an innovative financier of economic activity, they offer a supportive of national development, to provide the best place for work and to be a world class development bank. CREDIT UNIONs IMPACT ON DEVELOPMENT Credit Unions vary from Banks and other financial institutions, their members have ownership of the credit union and they elect their board of directors in a democratic one-person-one vote system irrespective of the amount of money that has been invested in the credit union. Credit Unions contribute to economic development through the wider community, mobilizing significant volumes of savings. (Journal of Public Sector Policy Analysis 2009) Research has confirmed that credit unions contribute positively to national development in Barbados and other Caribbean territories. (Roland, 2009). Credit Unions continue to be a prominent source of growth within the financial sector and therefore their macroeconomic significance has increased considerably. They have transformed the social and economic status of several members, enabling them to advance from the underprivileged class to the home owner class, by providing affordable terms and conditions for access to loans to finance a wide rang e of programmes. This paper seeks to determine the contribution of credit unions to national development. Research by the Centre for Economic Development and Area Regeneration (2000) concluded that credit unions start up or operate using the ethical approach, which focuses on having a strong community base with much volunteer involvement developing at its own pace, have been relatively ineffective. In response to some of the issues raised, there has been a gradual shift in the British credit union movement to new model development'(Jones, 2001). Jones believes that new model development is based on seven doctrines which will bring economic success, serving the financial needs of the population at large, maximizing savings, portfolio diversification, operating efficiency, financial discipline, self-governance and assimilation. Evidence of accepting the new model can be seen in the promotion of new business oriented approach to credit union development. Dr. Yaw Forkuoh, Senior Lect urer at the Department of Pharmacy of the Kwame Nkrumah University of Science and Technology (KNUST), (Ghanaian Jounnal, 2009) stated that credit unions are vital institutions which help to decrease poverty among people in society. He had appealed to the government to channel Poverty Alleviation Funds through credit unions for the distribution to people as loans, to better improve their income and way of life. He said that loan delinquency has been a serious issue facing the credit unions and asked the management of the unions to take the necessary steps to ensure that are been loans granted to their members will be paid on time for others also to benefit from it. Dr. Yaw Forkuoh, believes that the credit union is accessible by its member where loans are concerned which will better develop the economy. Credit Unions contribute and support other local organizations in concreting ways to carry out community projects. These projects have a community development focus on building cap acity, resilience, and strength in the community and not necessarily any direct economic component. These are resources committed for all different types of activities include financial resources, human resources, equipment, space, and more. Involvement in community development is important; it does not yield a quantifiable return for the credit union or the local economy. With such involvement will strengthen the name and reputation of the credit union as a community leader and contributor. Schulze-Delitzsch and Raiffeisen stated that the Credit unions are not conventional financial institutions. The kind of development for which they are uniquely well-suited is not conventional economic development, but community economic development, which is based in and draws on the communitys needs and resources, the same way a credit union does, but by contributing to communities it can be led to economic development. Credit unions have enhanced local economies by increasing the availabili ty of small loans and reduce to meet its members borrowing costs. But where there is a need, credit unions still contain their original potential to be agents for business development. Claes Bell, 2008 said that if everyone was a credit union member, would we be toasting the new economic recovery instead of self-pitying in the same sickness weve been mired in since 2009. A recent survey shows consumers who bank at credit unions have a more positive view of their personal finances than those who dont. According to credit union data released from the Discover U.S. Spending Monitor in September, 38 percent of credit union members rate their personal finances as good or excellent, compared to 30 percent amongst noncredit union members surveyed. Just 17 percent of credit union members rate their finances as poor, while 29 percent of noncredit union members feel the same way. Both groups differ when their personal financial situations are getting better or worse, whats more, credit union members report an objectively better financial situation than their bank-only counterparts. Allowing the poor in various rural areas to increase access to financial services, the poor may face a number of constraints when they seek access to financial services. However access to credit is very crucial because the credit union can smooth cash income fluctuations. They help to achieve occasional unexpected earning opportunities. They open more options and opportunities for increasing the securities and liquidity of a poor household. Access to deposit facilities will allow poor people to store current income for future use, which has welfare to improving effects because it means that people are less likely to suffer when unavoidable external shocks hit them. (Kirton 1991) stated that statistics has proven that majority of credit unions membership falls into lower income category. Credit unions are known to encourage saving habit, they provide low transaction cost too which is required to mobilize a great number of small voluntary savings accounts, offering a wide variety of savings services. They also have sound institutional controls and structures that are needed to accompany saving mobilization. Credit unions contribute significantly to small and micro-enterprise, a great proportion of credit union loans are allocated to a category called the business sector, comprise mostly of micro and small business, involved in a wide range of activities. These business aids in the development of the country through the provision of employment. This goes to show that credit union is vital in developing counties because it helps to boost the economy. DEVELOPMENT BANKS IMPACT ON ECONOMIC DEVELOPMENT Development bank,  national or regional financial institution are designed to provide medium- and long-term capital for productive investment, often accompanied by technical assistance, in poor and developing counties. According to the Encyclopedia Britannica is meticulously stated that the number of development banks has increased significantly since the 1950s; they have been invigorated by the International Bank for Reconstruction and Development and its affiliates. The large regional development banks along with the Inter-American Development Bank, established in 1959; the Asian Development Bank, which began operations in 1966; and the African Development Bank, established in 1964. They may make loans for specific national or regional projects to private and public bodies or may operate in conjunction with other financial institutions. One of the major activities of development banks has been the recognition and promotion of private investment chances. Although the effort s of the majority of development banks are focused towards the industrial sector, some are also concerned with agriculture. Development banks may be a public or private entity which may own and operated, although governments often make significant contributions to the capital of private banks. The form and cost of financing offered by development banks depend on their cost of earning capital and their need to show a profit and pay dividends. (Development bank 2011). In Development practices have triggered some controversy. Because development banks tend to be government-run and are not accountable to the taxpayers who fund them, there are a small number of checks and balances preventing the banks from making some horrible investments. Some international development banks have been accused for imposing policies that ultimately undermine the economies of recipient countries. Yet another concern centres on moral hazard that is, the possibility that fiscally irresponsible policies by recipient countries will be effectively rewarded and thereby encouraged by bailout loans. While theoretically a serious concern, the existence of such moral hazard has not been substantiated. Growth and Development Strategies for the Caribbean, was coordinated by the Banks Economics department and includes papers commissioned from Caribbean experts. These papers, which  appraise the main strategies  for economic growth pursued by regional countries in recent times, are sector-wide in coverage with attention to such areas as agriculture, manufacturing, tourism and mining, among others. The Banks are still continuing to work towards being more responsive to its clients by improving efficiency and strengthening its institutional ability. Development Finance Corporation (DFC) is the label generically applied to institutions established for the specific purpose of providing finance for economic development. DFCs have also been described as development banks, specialized credit agencies, and credit boards (Bourne 1991). Development finance is needed to provide additional financial capital to remove or at least relax the savings constraint on physical capital accumulation. Development banks are there to assist with any matter that arises. The Caribbean Development Bank (CDB) and the United Nations Development Programme (UNDP) have combined with the Government of Grenada to mainstream disaster risk reduction into the reconstruction process following the devastation caused by Hurricane Ivan in Grenada in September 2004. The Caribbean Development bank intervenes when there is any natural disaster that may affect the economy of any country within the Caribbean region. They participants assisted in drafting a Policy and Guiding Principles for mainstreaming Disaster Risk Reduction (DRR) into the reconstruction process. (Caribank 2005) In partnership with the public and private sectors, CDB will seek to balance the undertakings and initiatives of all th e performers in the overall private sector development effort for CDBs BMCs, particularly in areas where there is demonstrable market failure. According to CDB private sector development strategy 2004, stated that CDB support business and product development by providing financing and TA for development of new businesses and products, expansion of existing enterprises and building institutional and enterprise size. This includes the provisions of finance for both public and private sector investment to maintain and improve economic and social infrastructure. The CDBs strategic objective for private sector development in the borrowing member countries, is to improve the global competitiveness of the Regions productive sector on a sustainable basis and reposition Caribbean economies into the mainstream of the world economy. These are the development banks are doing and should be doing to develop developing countries. By now there is an ever-expanding body of evidence that suggests countries with better developed financial systems experience faster economic growth (Levine, 1997 and 2005). More recent evidence also suggests financial development not only stimulates growth, but also develops the distribution of income. Better developed banks and markets are associated with faster growth is also confirmed by panel and time-series estimation techniques. This research also shows that financial sector development facilitates economic growth through more efficient resource distribution and productivity growth rather than through the scale of investment or savings mobilization. (worldbank 2005) China is often mentioned as a counterexample to the findings in finance and growth literature since despite weaknesses in its formal banking system, China is one of the fastest growing economies in the world (Allen, Qian, and Qian 2005), and development banks are playing an integral role in development countries by helping with basic infrastructure and assisting with the develo pment of enterprises. CONCLUSION A credit union is a co-operative financial institution, which is owned and controlled by its members. With the establishing of the credit unions league headed by Father John Peter Sullivan, the Movement now had an organization whose objectives included: representing its members by contacting the Government about issues such as legislation, conducting central business services, receiving deposits from Credit Unions and other Co-operative Societies, making loans to its member credit unions and also to undertake investments for the member credit unions by organizing new credit unions. Credit unions are known to encourage saving habit, they provide low transaction cost too which is required to mobilize a great number of small voluntary savings accounts, offering a wide variety of savings services. They also have sound institutional controls and structures that are needed to accompany saving mobilization. The Development Bank of Jamaica was governed by the Ministry of Finance and Pla nning and the board members, which was appointed by the Ministry. They invested in the agricultural, manufacturing, tourism, agro-processing, quarrying and mining and services sectors. They also play a critical role in non-credit activities principally with respect to the upgrading of the Peoples Cooperative Banks as well as providing assistance to a number of sub-sectors which have faced difficulties. With these roles the development banks seeks to endorse economics development within the developing countries. Development finance is needed to provide additional financial capital to remove or at least relax the savings constraint on physical capital accumulation. Development banks are there to assist with any matter that arises. Better developed banks and markets are associated with faster growth is also confirmed by panel and time-series estimation techniques. This research also shows that financial sector development facilitates economic growth through more efficient resource dist ribution and productivity growth rather than through the scale of investment or savings mobilization.