History

Forward Together

On August 13, 2024, the JN Group marks its 150th anniversary. This milestone represents a significant achievement in our journey, marking a century and a half of innovation, growth and dedication to our mission.

The JN Circle UK, a network of JN members who work together to improve lives and communities, was launched in 2022 and the JN Circle Canada chapter was launched in 2023, adding to the 16 JN Circle chapters across Jamaica.

JN Small Business Loans becomes a division of JN Bank Limited and continues to be led by former General Manager, Gillian Hyde, as Deputy Managing Director at JN Bank.

On January 30, 2002, the World Health Organisation declared the outbreak of COVID-19 a Public Health Emergency of International Concern, followed by the declaration of a pandemic on March 11, 2020. On March 10, 2020, the first imported case of the COVID-19 disease was announced in Kingston. The disease quickly spread, with 12,915 confirmed cases and 393 deaths declared by December 31, 2020. (www.moh.gov.jm)

The Jamaica National Group introduced the JN Circle, a network of service clubs, to its members in 2019, with the aim of encouraging members to work together to take action, which will improve their life and the lives of all Jamaicans.

On February 1, 2017, The Jamaica National Group, a powerful, Jamaican mutually-owned global business, became a reality and the country’s third largest commercial bank, JN Bank, was launched.

After Jamaica National was granted the banking license by the Bank of Jamaica, an application was made to the Supreme Court to approve the proposed reorganisation. Following the court’s hearing and approval of the application, a Special General Meeting was held on November 14, 2016, where a majority of JN members voted to approve the new structure. The final decision of the JN members was communicated to the Court, which granted final approval, after which the commercial banking license was signed by the Minister of Finance.

The Jamaica National Building Society acquired The Voice UK newspaper in 2016.

Following the re-submission of the Jamaica National Building Society (JNBS) application for a commercial banking license in November 2013 to the Bank of Jamaica (BOJ), the application was approved by the BOJ in February 2015. The country’s third largest financial institution at the time, the Society commenced the process to convert the building society into a commercial bank and to restructure the JN Group.

The following year, 2013, JNBS became the first financial institution in Jamaica to become ISO 9001 certified.

JN Foundation launches Social Enterprise Boost Initiative (SEBI), with US$100 million funding from the U.S. Agency for International Development.

JNBS became the first financial institution in Jamaica to install intelligent ATMs that count and recognize cash deposits.

On May 1, 2012, N.E.M. Insurance changed its name to JN General Insurance Company (JNGI), to identify more closely with its parent and benefit from the strength and recognition of the JN brand and reputation in the wider Jamaican marketplace.

Since 2003, the Jamaica National Building Society (JNBS) has hosted a series of economic forums called Outlook for the Future to provide members of the Jamaican Diaspora and friends of Jamaica in the United Kingdom, United States of America, and Canada with an opportunity to engage in frank discourse on various issues of importance affecting the island.

JN Small Business Loans (JNSBL) began operating in October 2000, when JNBS purchased a small micro-credit portfolio from FINSAC, with the mission to deliver innovative and accessible credit to small businesses with limited access to loans from traditional banking institutions. During its 20 year journey, the company became the largest micro-finance entity in the Caribbean.

The Hanover Benefit Building Society merged with JNBS in 1996

MC Systems becomes first Microsoft authorized dealer in the Caribbean.  The company continues to grow and develop, receiving awards from international corporations such as Hewlett Packard, Microsoft, Verifone, MITEL and Diebold.

Other firsts for the Society were the formation of the JNBS Foundation in 1990, the opening of the Canada Representative Office in 1991 and the merger of the Hanover Building Society with JNBS in 1996, with the JNBS branch in Lucea established.

In 1983, 2-4 Constant Spring Road became the Chief Office for the Jamaica National Building Society.  Other key milestones in the 1980s for the Society, was its achievement as the #1 building society in assets in Jamaica.

In 1988, the JNBS UK Representative Office was launched, the first Jamaican building society to offer remittance services and facilitate mortgages in the UK.

In 1989, JN achieved another significant milestone, when its assets were recorded as $1 billion.

Llewellyn Bailey, former Assistant General Manager, recalls that his association with the building societies began in 1969, when he accepted an offer to work at the St James Benefit Building Society in Montego Bay.  His first significant task was to oversee the decimalization of the Society in keeping with the country’s move from pounds, shillings and pence to dollars and cents in April that year.

… And many shall become one!

Five years later, in 1967, the Westmoreland Building Society completed its first merger with the Manchester Mutual Building Society, building new offices in Savanna-la-Mar and established branches in Santa Cruz, Mandeville, May Pen and Kingston, linking them all by radio-telephone.  The growing building society then merged with the Central Building Society in Christiana.

Jamaica celebrated its Independence in August 1962. One week later, the Westmoreland Building Society, founded August 13, 1874, celebrated 88 years of providing savings and mortgage solutions to its members.

On August 13, 1874, the Westmoreland Building Society held its first Directors’ Meeting. The Reverend Henry Clarke, Founder and first Chairman, presided.