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June 18, 2014
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JNBS to expand moneyShop network

The Jamaica National Building Society (JNBS) will be expanding its JN MoneyShop network across the island, with the slated conversion of its current branches in Portmore, St Catherine and Montego Bay, St James, effective July 7.

Michele Pollard-Gonzalez, JNBS Executive and Member Ombudsman further briefed members at recent meetings held at both locations about the pending changes which include rebranding to facilitate expanded operations, such as convenient banking options and transactional services.

"This MoneyShop concept is a JNBS distribution channel which seeks to incorporate more of the personal elements that are being eroded by modern banking models and technology. Therefore, MoneyShops will handle transaction-type business while branches will provide consultative services," she outlined.

The first of its kind in Jamaica, the MoneyShop concept promotes ultra convenience for members, both in services and banking hours.

"The MoneyShops allow JNBS to efficiently deliver a wider range of services to its membership base that could not normally be justified, given the costs associated with the traditional branch structure. This channel differentiates JNBS from its competitors by being more convenient: offering extended opening hours and Saturday Banking," Pollard-Gonzalez explained.

JN MoneyShops are equipped to carry out regular banking and transactional services which include saving account deposits, withdrawals, utility bill payments, loan payments, trading in foreign exchange and providing remittance transactions; as well as, Gleaner Classified Ad placements at select locations.

Last year, five JNBS branches became JN MoneyShops and the current conversations will increase the network to 19 outlets.

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