Tue | Oct 17, 2017

VMBS, COK Sodality join forces

Published:Friday | July 14, 2017 | 12:00 AM
Michael Howard, CEO of VM Money Transfer Services Limited.

VMBS Money Transfer Services (VMTS) Limited continues to expand its remittance footprint as customers in Jamaica are now able to receive funds at five COK Sodality Co-operative Credit Union Limited locations islandwide, through a new agreement between the two entities.

Victoria Mutual members and customers who reside in the United States, the United Kingdom, Canada and an additional 200 countries, can assist their family members and other loved ones in Jamaica, who will now be able to safely and conveniently collect funds or deposit funds to their COK accounts, at COK Sodality locations in Kingston, Portmore, Mandeville and Montego Bay.

Peter Reid, chief executive officer of building society operations at VMBS, said: "It is essential that we consistently deliver our services in the most efficient and customer-centric fashion."

 

SERVING CUSTOMERS BETTER

 

"This partnership between Victoria Mutual and COK reflects the improvements we continue to make in our business processes in order to better serve our members and customers, guided by our strategic goal of being a modern mutual, and our core values of being member-focused and innovative," Reid said.

Michael Howard, chief executive officer at VMTS, is excited about the new partnership. "We strive to enable our customers to access our network convenientlyin order to meet their financial needs and achieve their full potential. As we continue to expand the VMBS money-transfer services throughout Jamaica, we are committed to ensuring that we partner with the best quality sub-agents to represent the VMBS remittance brand, and we believe that COK Sodality truly exemplifies the values for which we stand," Howard said.

Improving lives

According to Andre Gooden, chief business development officer at COK Sodality, a strong similarity between both entities stands at the centre of the partnership. He noted that both brands are well established and well recognised in Jamaica and the diaspora, and are member-based, with long and enviable reputations of improving the lives of members. With this in mind, he called the partnership "mutually beneficial", owing to the many cultural synergies.

"As part of our ongoing strategic initiative to make our services even more widely accessible to our members, a partnership with VMBS Money Transfer Services will give our overseas members, in particular, yet another method of sending funds to their accounts at COK. We look forward to working with the VM Group as we both seek to build our nation in this our 55th year of Independence," he said.

With this new agreement, VMTS will increase its distribution network to 74, thereby further enhancing the company's islandwide money transfer-services.

VMTS Limited was established by VMBS to enable the transfer of money to Jamaicans from family and friends living and working abroad. Established in 2004, VMTS offers Jamaicans a fast and affordable way to send and receive money.