Monthly Archives: February 2019

Today, Audrey Smith is a happy woman. Nine years ago, she was able to transfer her love of “wicker making” to an acquired skill, which she used to create a full-fledged craft business, which now provides her with a viable source of income.

The 56 year-old, who hails from Dumfries, Trelawny, was introduced to the craft by a group of skilled veteran basket makers, whose mission was to pass on their knowledge  to the next generation, thus enabling them to benefit financially from their skills.

The trainers were members of the Basket and Tings Association in Trelawny, which at the time, partnered with the JN Foundation Members’ Advisory Council (MAC), to finance the workshops that were held in four clusters in the parish: Albert Town, Clarkes Town, Kinloff and Duanvale.

“I was always interested in basketry, therefore, I went ahead and bought a book about it. However, I didn’t know how to start the basket, and I often spoke with persons who made their own baskets, who would promise to show me, but it never happened,” Mrs Smith revealed.

“Then, one day, one of the persons whom I had asked to teach me the craft told me about a wicker training event. I turned up to the class, and, on the first day of training, I learned how to make a basket,” she said, glowing with enthusiasm, as she explained how she would stay late up in the nights, practicing.

Mrs Smith now sells her products to tourists at the Falmouth Pier in Trelawny, when the cruise ships dock at the port. She said that her creations are mostly “Afrocentric,” and depict Jamaican traditions.

Now, she has expanded her products to include items such as, mats and trays. She has also added jewelry making, using wicker in her line of craft products. Her passion for the craft urged her to pass on the skills to her two daughters and close friends, who indicated that they were interested.

“It is beneficial, and you can make a living out of it,” she explained, “I encourage persons who want to learn a skill to consider wicker work. “It is a useful skill to have, because it will help to put bread on your table.”

Mrs Smith commended JN Bank for investing in her so many years ago. “I was very happy that somebody put their trust into a small group to learn wicker; and put money into it. It was to our benefit, and I thank Jamaica National for the funding. Nine years later, I continue to earn from for their craft initiative,” she said.

Saniah Spencer, chief marketing and product development officer at JN Bank, stated that Member Advisory Councils are channels through which JN Bank gives back to its members via community and national based projects; and members are encouraged to nominate projects for consideration by MAC, in their respective parishes.

The first deadline for the nomination of projects is February 28. JN members can visit the JN Bank website at: www.jnbank.com/member-advisory-council to access nomination forms.

Projects to be nominated should be in the following categories: community development, health and well-being, child safety, early childhood education, and the vulnerable population.

Since 2006 approximately J$51.4 million in funding has been spent to implement MAC projects, generating more than 370 projects in communities, located in every parish across the country.    

Every parish has benefited from MAC projects; and, the funds are disbursed through the JN Bank’s branch networks, to reinvest and benefit the communities in which JN Bank serves.

For further information about MAC projects, please visit the JN Foundation’s website at: hwww.www.jnfoundation.com/content/members-advisory-council-projects.

Contact:  Dionne Rose l JN Corporate Communications

   JN Bank in partnership with the JN Foundation is inviting members and other community stakeholders to identify and nominate worthwhile projects that can impact positively on correcting some of the many issues of concerns within their communities for consideration by its Member Advisory Councils (MAC).

Community projects are important to nation building hence JN Bank views this as an important avenue to give back, while empowering its members by supporting development at the community and national levels. It is also a mechanism, which gives JN members the opportunity to be more involved in the implementation of worthwhile projects, based on the allocation of JN Bank’s resources to these projects.

The first deadline for the nomination of projects is February 28. JN members are, therefore, being encouraged to visit the JN Bank website at: www.jnbank.com/member-advisory-council to access nomination forms.

Saniah Spencer, chief marketing and product development officer at JN Bank, said that projects to be nominated should be in the following categories: Community Development; Health and Wellbeing; Child Safety; Early Childhood Education and the Vulnerable Population.

The Councils, which were re-established this year, represents JN Bank’s partnership with communities, in and around its 35 branches and MoneyShops in every parish across the country, to support community and parish level development.

Last month, regional MAC workshops were held in Ocho Rios, St Ann; Mandeville, Manchester; and Catherine Hall, St James, to engage members in discussions about the renewed programme.

At the workshops, members welcomed the re-establishment of the MAC.
“I believe that when we share the information about the work of MACs in our communities, it will be something they will welcome, because assistance is needed in our communities”, said Kevin South, pastor of the Spring Village Gospel Assembly in Spring Village, St. Catherine.  “ I do believe that JN is doing something positive, which is needed in these times.”

Lydia Sherrt-Obinim, a member from Santa Cruz, St. Elizabeth, has already identified road hazards as one of the areas which she would like to be addressed. “The MAC is a great initiative and I look forward to nominating my project,” she said.

The JN Bank MACs operate across all JN Bank branches and MoneyShops in Jamaica, and membership includes bank employees and community representatives. To date, approximately J$51.4 million in funding has been expended on MAC projects, generating more than 370 projects in communities across the country.

To date, communities in every parish have benefited from the programme; and, the funds are disbursed through the branch networks, to reinvest and benefit the communities in which they serve.

For further information about MAC projects, please visit the JN Foundation’s website at: hwww.www.jnfoundation.com/content/members-advisory-council-projects.

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Contact:  Dionne Rose l JN Corporate Communications

Getting out of debt and saving money are two of the most commonly made and broken New Year’s Resolutions. Rose Miller, grants manager, JN Foundation and head of the JN BeWi$e financial empowerment programme says persons fail to follow through on their plans to reduce their debt because they often make unrealistic goals.
“Rather than trying to pay off all your loans in just one year, especially if you have a large amount, focus on a few key steps, putting together a get out of debt plan,” she advised.
Mrs Miller recommended that a ‘get out of debt’ plan should be created no later than February and suggested that persons should aim to pay off 10 to 20 percent of their total debt by the end of the year. “If you are able to clear more, go for it,” she said.
She further recommended several steps persons can take as they journey towards financial freedom.

Set SMART Goals

Instead of setting goals that look good on paper, take time to establish some that are realistic to achieve. Mrs Miller advised persons to set SMART goals – goals that are specific, measurable, achievable, relevant and time-bound.
“This means instead of setting an arbitrary goal to pay off $500,000 in student loans by next year, it would be more feasible to sit down and figure out how much debt you have, how much you can afford to pay each month, based on your income and current liabilities, and how much you could feasibly pay off by a specific date,” she said. 
Mrs Miller noted that the idea behind this strategy is that persons are more likely to stay on track if they budget to pay off a specific amount of money each month. “Without a specific sum to pay each month, you have no way to measure your progress, and you may be setting yourself up to fail.” 

Use a monthly budget or spending plan

The JN BeWi$e Head also suggested that persons use a monthly budget or a spending plan to organise their finances. This means taking stock of your monthly income, from all sources, then determining the wisest way to spend so you can achieve the goals you have established.
“You’ll need to set limits for discretionary spending categories like food and entertainment. A spending plan is a road map that can guide us to becoming debt free,” said Mrs Miller. “Look for ways to reduce or eliminate some expenses, If we can balance that budget without the use of credit cards this will be a big step forward in your debt reduction plan.”
The decision about which debt to tackle first will depend on the amount owed as well as the interest being incurred. Mrs Miller pointed out that it is usually advisable to get rid of the most expensive debt first, that is, the one with the highest rate of interest. “However, some people go after quick wins, so they may first focus on the ones they can get rid of quickly,” she said.

Set yourself up for success

The JN Foundation Grants Manager also noted that many people turn their focus to paying off debt without confronting how they got there in the first place. “For example, they might set a goal to pay off one credit card, but continue using another without changing their spending habits,” she said. 
Mrs Miller said if persons really want to get out of debt, they must employ a high level of discipline and make it as difficult as possible to go into debt. “One of the most effective strategies is to utilise the envelope method of budgeting.” 
With this strategy, Mrs Miller advised persons to stop using credit or debit for discretionary spending categories like food, entertainment and even some necessities like transportation and grooming. Set aside a specific amount of money for those expenses in cash. “You put the money in respective envelopes and spend accordingly until the budgeted sum is gone. This will help you learn to live within spending limits and stop using credit as a crutch,” she said.

Build an emergency fund

Finally, Mrs Miller added that it’s important to build a fund that will help you avoid more debt if a surprise bill or loss in income threatens to disrupt your financial goals.  
“The best way to avoid these disasters is an emergency fund,” she said. “Make it a point to put money away each pay period.” 
Whether you’re able to save $10,000 per month for emergencies or $1,000, having an emergency fund to pull from when times get tough can be all it takes to help you avoid making your debt problems worse. 
“Make your monthly emergency savings automatic and part of your full debt repayment plan, and you will begin building a savings buffer over time. If you are trying to get out of debt then you need to put a buffer between you and debt; that is exactly what an emergency fund does,” Mrs Miller said.

JN Group | Corporate Communications

The engines of JN Bank’s Member Advisory Councils have begun to steam following a series of workshops, now underway, to engage council members and to assist them with identifying projects that will address issues in their communities in a sustainable manner.
The re-establishment of the councils, which is being managed by the JN Foundation, represents JN Bank’s means of partnership with communities, in and around its 34 branches and MoneyShops in every parish across Jamaica, to support their development.
The JN team commenced the regional workshops on January 23, beginning in Ocho Rios, St Ann, and have also held events in Mandeville, Manchester and Catherine Hall, St James.
“As a mutual corporate entity, JN Bank gives back to its members through community and national development projects,” Ms Spencer explained. “Therefore, MAC provides members with the opportunity to be involved in the identification of worthwhile projects and decision-making in the allocation of resources for programmes for community development.”
Addressing members during the series of workshops, JN Foundation’s partnership and development manager, Shauna-Kaye Rowe, emphasised the need for council members to choose projects that will inspire change in general attitudes and behaviour among and towards vulnerable groups in their locale.
“Think about projects which are people centric; geared at providing a solution and that addresses the needs of vulnerable communities,” she noted giving examples, such as the Mustard Seed Communities, which target the dispossessed and disabled. “Think about projects that speak to the greater value of being your brother’s keeper,” she added.
Candice Minott, brand and integrated marketing manager, JN Bank, also urged council members to ensure projects are sustainable and to establish a reporting and evaluation framework to keep the project in check, so that its impact can be consistently measured. She encouraged them to think carefully about the target audience for their projects and to use research and data to inform their decisions.
“A good starting point is a quarterly performance report so that you can assess the projects to see where they are now compared to three months ago,” she advised. 
Members were also counseled about the importance of maintaining public visibility of their projects using various media in order to maintain evidence of initiatives completed under the project; attract partnerships and donors, as well as inspire those impacted by project and those implementing it.
“I am more enlightened about MAC,” said MAC member at the JN Bank Browns Town branch, Franklyn Clarke after participating in the Ocho Rios workshop. He said, a result of the event, he understands how to execute a project. He has also already begun to identify pockets in and around Browns Town for consideration by the council and wants to target a group of unattached youth in Murray Mountain, a remote hamlet in St Ann, to develop their acumen and skill set in information technology.
Similarly, Colin Blair, a MAC member at the Ocho Rios branch, and a firefighter, welcomed the workshop and noted the support it could provide to vulnerable youth. Among the projects he is considering is a first responder programme, given the high number of serious road crashes which occur along the St Ann coast annually, several of them fatal. 
“I do a lot of youth development, so I am happy to know that there is one other entity that has that joy and passion to try and help others,” he said.

Gareth Manning | JN Group Corporate Communications