JN Foundation Invites Application for PEP Scholarship

The JN Foundation is now accepting scholarship applications for students who participated in the Primary Exit Profile (PEP) and will attend school at the secondary level.

Seventeen students will be awarded under the two types of scholarships on offer – the JN Foundation PEP Parish (14) and JN Bank Easi-Save County (3) Scholarships.

The deadline for the submission of applications is Sunday, August 7, and prospective applicants are invited to access the application form on the JN Foundation’s website at www.jnfoundation.com/jn-scholarships/ .

To be eligible for the scholarship, applicants must have completed the 2022 Primary Exit Profile and should not be a recipient of a government scholarship.

Other requirements are that applicant or parent must have a relationship with a JN Group member company for at least one year – either as a member/customer/client of JN Bank or JN Bank Small Business Loans Division, JN Fund Managers, JN General Insurance, JN Life Insurance, Jamaica Automobile Association or JN Money Services.

Only the biological parent or legal guardian can apply on behalf of the child if the child is without an active JN Bank account.

Claudine Allen, general manager of the JN Foundation, noted that the Foundation is honoured to be able to support the best and brightest through funding for secondary education.

“Assisted by the generosity of companies with the JN Group, we are able to award some $9 million  in scholarships annually, a significant amount of which goes to our youngest scholars,” she said.

The Foundation currently provides funding for more than 140 youngsters who maintained good grades having initially received the award on successful completion of their PEP exams.

“In September, many will commence fifth form, and will conclude the tenure of the scholarship at year’s end. At the same time, in September we will welcome a new cohort who will commence this five-year journey with their JN Family. It is an exciting and rewarding period,” she added.

The JN Foundation PEP Scholarships will be awarded to one recipient from each parish, while the JN Bank Easi-Save County Scholarship will go to one child from each county.  The PEP Scholarships are also available to children of employees of The Jamaica National Group

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JN Foundation to Host Investment Summer Camp

The JN Foundation will host its inaugural Young Investors’ summer camp for young people between 12 and 17 years-old, as it aims to tap into their growing interest in investing.

The camp is scheduled for July 20 to 22 under the theme ‘Building the Young Investor’ and will be held virtually on the Zoom platform.

“A survey carried out among high school students by the JN Foundation found that young persons wanted to know more about investing. It is heart-warming to know that our young people are interested in learning about investing,” disclosed Claudine Allen, general manager, JN Foundation.

Ms Allen noted that the three-day camp will seek to build the capacity of participants by promoting an understanding of investment concepts and various types of investment vehicles. It will also provide participants with basic knowledge about, and an appreciation for the role, function and value of the Jamaica Stock Exchange (JSE) to the economy and wealth creation.

Other areas of focus include stock trading, cryptocurrency and mutual funds.

“The aim is to achieve a greater level of financial literacy and awareness among participants in the summer camp. It will be an exciting summer camp with prizes and surprises. We invite children to register for the camp,” Ms Allen said.

Persons can register for the summer camp by visiting the JN Foundation website at https://www.jnfoundation.com/.

Among the organisations which will be making presentations at the camp are representatives of the JSE,   Carib DAO, as well as representatives from JN Group member companies: JN Fund Managers, JN Bank and MC Systems. Selected participants will also get the opportunity pay courtesy calls on senior management personnel of both JN Fund Managers and JN Bank.

The summer camp is being executed under the JN Foundation BeWi$e Financial Empowerment programme which has, for close to a decade been bringing financial literacy to Jamaicans through training at various institutions and organisations across Jamaica.  The aim is to raise the level of financial literacy and improve money management skill among Jamaicans.

The BeWi$e workshops promote the idea that with knowledge of the right tools, discipline and commitment, persons can achieve financial security and financial independence.

The programme has attained a high level of success at the JN Foundation, as individuals become more aware of the value and importance of proper money management in achieving financial success, and has over the years, transformed lives and provide hope as participants embrace their role and responsibility in their quest for financial freedom.

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JN Group Set to Launch Financial Academy

Low levels of financial literacy in the country could lead to poor credit management, increase debt burdens and high levels of fraud exposure. Given the importance of financial management, the JN Foundation will be launching the JN Financial Academy, which aims to empower JN members to achieve financial freedom by providing information, training, and mentorship to help them make better financial decisions.

Claudine Allen, general manager of the JN Foundation, said the establishment of the Academy is a demonstration of the ‘People First’ commitment of The Jamaica National Group.

“Our vision is to see all Jamaicans educated and financially free. While the achievement of its mandate will indeed enrich lives and build communities, our work will also call on the organisation to demonstrate the extent to which they accommodate the empowerment of all members, particularly those who are unbanked and under-banked,” she pointed out.

She underscored that The Jamaica National Group has always advocated for financial inclusion, and has been a champion of consumer and business empowerment, especially in relation to banking and finance.

The Academy will raise the level of money management and financial awareness and skills, as well as provide coaching support to manage debt to achieve financial freedom. In addition, it will also influence the public discourse about financial inclusion, savings, borrowing trends and consumer education, by undertaking research and engaging in public dialogue.

The JN Financial Academy will administer courses for virtual, on-demand and face-to-face training sessions. Members who enrol in the Academy may also be offered personal coaching based on their unique current financial position and future plans.

Ms Allen noted that teaching and learning will commence as early as September with the offer of services to support persons unable to access credit, or to enter the formal banking system.

“We will work with individuals and entrepreneurs. And, our offer will include modules focusing on building a bankable character; understanding loans, and credit remediation,” she said.

Other courses will include: Understanding Credit Reports; Wealth Building; Insurance as a tool for financial security, and Investing for youth.

The Academy is the latest education initiative being undertaken by The Jamaica National Group through the JN Foundation. Earlier initiatives include the JN BeWi$e Financial Empowerment programme, which teaches the core principles of money management and the tools necessary to improve one’s financial status, establish stability and independence.

“The Academy is the evolution of our BeWi$e programme. We are aiming to reach more Jamaicans and to help improve their behaviour and attitude to money and provide practical ways that help them access and use credit responsibly … and of course, build inter-generational wealth,” she said.

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