Jamaica National opens branch at UWI

 Jamaica National Building Society (JNBS) opened a new branch at The University of the West Indies (UWI) on September 1, as part of a deepening relationship with that institution.

JNBS General Manager Earl Jarrett said the branch offers a convenient mix of financial products and services to serve the Mona campus community. He added that opening the branch symbolised a partnership with the UWI which provided a competitive advantage to JNBS.

"This branch represents a physical presence for the delivery of services," Jarrett said during the opening ceremony. The UWI is experiencing increasing demand for a wider mix of financial services and facilities as the institution expands, and Jamaica National saw an opportunity to supply those needs.

Savings, mortgages, investment information, money transfer, and bill payment services are offered. A drop box to make deposits by cheque is provided along with automated teller machines to disburse and accept cash deposits.

With a total of 25 branches now in operation, JNBS is on a drive to expand its service offering islandwide and the UWI branch is its first at a tertiary institution.

Excellent collaborator

"You will no way regret opening here on the Mona campus," Joseph Pereira, deputy principal of the UWI, said in his address at the opening. He pointed out that the campus has 8,000 full-time students, 4,000 part-time and 3,000 affiliated students as well as a staff of 2,000.

Pereira told the audience at the Ring Road branch location that, "JNBS has been an excellent collaborator with the UWI." He suggested that the building society could assist the institution by helping some of its staff acquire their own homes.

"We think it is important to encourage staff and students to use the services of institutions such as Jamaica National," Pereira stated. He pointed out that a culture of saving to promote home ownership needs to be developed.

"Jamaica National has forged and maintained solid relationships with the leadership, specific departments and academic groups within this institution," Jarrett said. He stated that, "For three consecutive years we granted scholarships to students at the Mona School of Business, and the Society has provided some 57 tuition scholarships and bursaries to students attending this academic institution."

Various sponsorships

The Society had partnered with the Caribbean Institute of Media and Communication (CARIMAC) and the Commonwealth Secretariat to implement a financial literacy programme for students primarily in secondary schools. It also contributed business start-up funds to the winners of CARIMAC's Business Venture Programme; and over the years, sponsored a media awards programme.

One result of this relationship for JNBS, the general manager noted, was the data gathered by the Tropical Medical Research Institute, to quantify the positive effects that JN Small Business Loans Limited has had on the business and lifestyle of small businesspeople particularly in the areas of health, education, social advancement and self-esteem.

Additionally, he pointed out that Mona GeoInformatics conducted a study to map and manage risk, and another in conjunction with the math department, to solve the problem of fixing and identifying addresses for customers in communities across the island.

"These are but a few examples of the serious work that has been produced by this university," Jarrett declared. "I commit to continue developing our relationship with the university."