National Group marks its 149th year of existence today.
The occasion not only signifies its rich heritage but also underscores its commitment to its members and its profound impact on society through housing finance, small business financing, remittances, technology, international business, and social engagements.
Since its establishment in 1874 as the Westmoreland Building Society, Jamaica National Group has become one of the Caribbean’s largest conglomerates, with an international network spanning the United States of America, the United Kingdom (UK), Canada, and the Cayman Islands.
At the core of Jamaica National Group’s success is its dedication to helping people “find a way”. Through visionary leadership and strategic mergers the group has evolved and expanded, encompassing several member companies including JN Bank and its small business division, JN Fund Managers, JN Money Services, MC Systems, Jamaica Automobile Association and JN Properties.
These companies collectively offer services in banking and finance, general insurance, information technology solutions, property management, and automobile services.
According to Earl Jarrett, CEO of Jamaica National Group, the organisation is committed to enabling Jamaicans to improve their quality of life and achieve their financial aspirations.
Jarrett credited the group’s journey of success to its passionate employees, loyal customers, and trusted partners who have contributed to its enduring legacy.
“The Jamaica National Group’s success extends beyond business performance, highlighting the countless stories of individuals, families, and businesses that have been supported and uplifted by the organisation. The 149th anniversary provides an opportunity to reflect on the profound impact the group has had on the lives of countless individuals,” said Jarrett.
He pointed out that throughout its rich history Jamaica National Group has celebrated numerous achievements and firsts, such as being the first mutually owned commercial bank in Jamaica and the only ISO 9001:2015-certified financial institution in the country.
Additionally, the groundbreaking JN Bank UK became the first Caribbean bank licensed to operate in the UK, further solidifying the group’s reputation as an innovative industry leader.
Jarrett noted that MC Systems, a pioneer in leading edge technology solutions, was the first to launch smart automated teller machines (ATMs) with the capability of identifying counterfeit notes, updating accounts immediately, and depositing cash without the need for an ATM card.
It was also the first company to introduce an Internet-based money transfer financial system and the award-winning BizPay Central, the first payroll service of its type in Jamaica. Furthermore, in 2021 MC Systems acquired Phoenix International, a world-leading core banking platform, to enhance their suite of financial services in the Caribbean, Latin America and Africa.
Beyond financial services, Jamaica National Group has remained deeply committed to social responsibility.
Jarrett pointed out that the establishment of JN Foundation in 1990 has been instrumental in addressing developmental needs in areas such as water resources, road safety, advocacy, the environment, education, and financial literacy.
JN Foundation, in collaboration with the United States Agency for International Development, launched the Social Enterprise Boost Initiative (SEBI) to facilitate the growth of the social enterprise sector.
It also established The Source Centre in five communities across the island to provide business and social services, as well as embarked on a road safety campaign, X Marks the Spot, in partnership with the United Nations Children’s Fund (UNICEF) to protect children from death and injury on the roads.
The launch of JN Circle in 2019 further strengthened the group’s philanthropic work, fostering a network of JN members collaborating to improve lives and communities. This initiative has since expanded to 18 chapters across Jamaica, the UK, and Canada, amplifying the impact of community-driven initiatives.
Jarrett said as Jamaica National Group looks forward to celebrating its milestone 150th anniversary in 2024 it remains steadfast in its commitment to enriching lives and building communities.
“We envision a tomorrow where our services continue to evolve, empowering individuals and businesses to thrive in an ever-changing world. We remain committed to fostering a future that is built on sustainability, digitalisation, and putting our people first,” added Jarrett.
The CEO pointed out that the group is focused on various initiatives to strengthen its core for the future, including enhanced credit approval processes, the ONE JN Passport customer relationship management portal, delivering premium experiences to members, investing in communities through JN Foundation, and developing further the JN Circle network.