KINGSTON, Jamaica – JN Money Services Limited (JNMS) signed a contract on Thursday, (Dec. 18) with the National Housing Trust (NHT) to use its JN International Money Transfer network to disburse NHT contribution refunds, as of January 2.
“We welcome this mutually beneficial partnership because it provides additional channels through which NHT contributors may access their funds,” said Mr. Emile Spence, General Manager at JNMS, who was speaking at the contract signing at the NHT’s Park Boulevard headquarters in New Kingston. “And, it also strengthens our resolve to provide financial services to Jamaicans in underserved communities.”
Refunds will be available through some 30 JN Money Transfer locations across the island.
Capital and Credit Remittance Limited, through Reggae Money Express has also been engaged to provide a similar service.
Mr. Spence also pointed out that Jamaica National Building Society, the parent entity of JNMS, had a longstanding relationship with the NHT, through their joint mortgage financing programme, and that the decision to include remittance companies in the enhanced payout process was a boon for NHT contributors.
Three-way Agreement: Locked in a symbolic link handshake are Emile Spence (left), General Manager, JN Money Services Limited; Donald Moore (centre) Senior General Manager, National Housing Trust (NHT) and Michelle Wilson-Reynolds, Senior Vice President Group Marketing & Corporate Affairs, Capital & Credit Financial Group. The three had just signed a contract for JN International Money Transfer and Capital and Credit’s Reggae Money Express to disburse NHT contributions, starting January 2, 2009.
According to Donald Moore, NHT Senior General Manager, the NHT will be able to dramatically improve its service to customers by expanding its payout network through this arrangement. “2008 was a watershed year for contribution refunds at the NHT,” he said, “and not everything went smoothly…because of the surge in demand for refunds.”
This, he said, led to the inability of the Housing Trust to make expeditious payouts, which is being resolved through this new arrangement with the remittance companies and the commercial banks. NHT contributors will now have access to more than 100 locations to collect their contribution refunds.
This step is part of a phased expansion exercise by the JNMS to increase new business linkages which it has established with several companies this year.
License to Pay: Donald Moore (centre) Senior General Manager at the National Housing Trust (NHT) is assisted by NHT Marketing Manager Jacqueline Aris (standing), as he inks an agreement for JN International Money Transfer and Capital and Credit’s Reggae Money Express to disburse NHT contributions, starting January 2, 2009. Participating in the proceeding are: Emile Spence (left), General Manager, JN Money Services Limited and Michelle Wilson-Reynolds, Senior Vice President Group Marketing & Corporate Affairs, Capital & Credit Financial Group.
