Author Archives: jn_foundation

Teachers and representatives of the JN Bank Member Advisory Council watch students enjoy the swing during play time at the school.

Bright, broad smiles and peals of laughter emanated from the students of the St. Elizabeth Early Childhood Education and Therapeutic Centre in Santa Cruz, St Elizabeth, as they enjoyed play time in a new therapeutic play area, which was constructed courtesy of the JN Bank Member Advisory Council (MAC), in Santa Cruz.

The play area, outfitted with a monkey bar, slide, seesaw and a swing, was officially handed over to the centre on February 4. The centre caters to children with disabilities, therefore, the play area enables the youngsters to develop a higher level of interaction, through structured play, in a safe and secure environment.

Madge Sanderson, centre manager of the institution, in expressing her appreciation for the gift, underscored that the play area was important, as it facilitates the development of the children.

“We were not able to have our children playing as we would want them to, as play for them is therapy. Therefore, now that we have these equipment, they will help them in their development, balance and cognition, as well as, to build their muscles,” she said.

The centre caters to 20 students with disabilities, such as: cerebral palsy, intellectual challenges, speech defects, autism, microcephaly (a medical condition where the child is born with a small head); and hydrocephalus (a medical defect where the child is born with a large head). In addition, there are 60 additional students who benefit from home visits.

Lorna Sinclair, business relationship and sales manager for St Elizabeth at JN Bank said that due to financial challenges experienced by the institution and the need to assist students with disabilities, JN Bank MAC decided to help.

“When we visited the school, we recognised that there was a need. Yes, the students do have disabilities, however, we do not want them to be cloaked up inside every day, all day long. They needed to be outside playing and enjoying the sunlight. With the new play area, now they are more active,” she informed.

Mrs Sinclair stated that the financial institution also engaged community members, not only through the provision of financial services, but also by investing and building the communities and having an enabling presence in the communities.

Children between the ages of one to 16 years are enrolled at the centre and they are from the communities of Santa Cruz, Burnt Savanna; Knoxwood, Pepper, Goshen Middle Quarters, Waterloo Community and New Market.

Established in 2006, the centre initially started doing home visits to children who resided in nearby communities, who were physically challenged. Ms Sanderson informed that this approach to therapy was not productive, therefore, the administration recognised that more contact time was needed with the youngsters.

Eventually, a school offered services for three days per week and since November last year, it has been operating five days per week due to additional funding.

The JN Bank MAC, formerly known as the “Branch Advisory Councils,” were established in 2006, to provide JN members with the opportunity to engage directly in the identification and selection of projects to positively impact negative issues in their communities.

Over the years, the MACs have implemented numerous worthy projects in communities across the country. With the establishment of the JN Circle, the activities of the MAC will now be subsumed into the JN Circle, a national network of service clubs. The new entities are empowered by The Jamaica National Group to advocate for change and strengthen the communities in which its bank and other JN corporate entities are located.

Road-safety infrastructure installed at a section along Holland Bamboo Avenue, in St. Elizabeth, has been effective in better safeguarding the lives of residents living in the area.

In an interview with JIS News, Principal of Holland Primary School, Simone Doctor, said the amenities have been particularly beneficial to students at the institution.

“Anything that has to do with school development and the development of the children, I am always on board. So, all of the amenities and facilities that have been put in place, the children are utilising and they are keeping them safe all around,” Mrs. Doctor said.

The road-safety infrastructure includes a small bridge, sidewalks, laybys, and school-safety and speed-limit signs. They were installed as part of the 2019 Labour Day activities where Holland Primary School was among four institutions selected as national projects by the Labour Day Secretariat.

“The children are appreciative, because they know it is an exact location for them to stand. So, where the sidewalks are, that is where they stand to take vehicles,” Mrs. Doctor explained.

“The [speed] sign has been posted, and right now it is 30 km. Also, rumble strips have been installed on either side of the pedestrian crossing. So, those rumble strips would give the drivers warning to say that you are coming up on a pedestrian crossing, so slow down,” she added.

The Principal said that some sheds at the laybys would be welcome additions to further benefit the school and community.

One resident, Marsha Wilson, told JIS News that the community is grateful for the road-safety infrastructure.

“We feel very good because a long time we want it,” she said, noting that she also has a son and a niece attending Holland Primary School.

“Before, it was very chaotic because the children never had any sidewalk. So, we are glad we get the sidewalks,” she added.

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Rose Miller, grants manager at the JN Foundation, is recommending that parents inculcate financial awareness in their children at an early age.

“It is essential for raising a child,” she insisted. “Teaching children how to become financially aware at an early age will help to develop in them good money-management skills and other habits which will help them throughout their lives”.

The JN grants manager, who has responsibility for the foundation’s BeWise financial empowerment programme, posits that from an early age, children should be exposed to financial literacy as it helps them to understand the value of money.

“It helps them to understand how to earn it and grow it, manage it, and generally how they can navigate the financial arena, which can be quite intimidating.

“Our young children are like sponges; and their creative minds are constantly picking up new traits. Therefore, it is the best time to inculcate excellent saving habits,” she pointed out.

Miller explained that these saving habits should be actionable. This requires parental involvement. Opening a savings account for their children is one way parents can kick-start their children’s journey to financial independence.

The JN Foundation grants manager said that the opening of a savings account is a demonstration of a commitment to the process and that the action will have positive, far-reaching implications for families in the future.

10-10-80 FORMULA
“Parents could start by purchasing a ‘saving pan’, or repurposing any suitable receptacle, such as a large plastic water bottle, where their children can deposit their spare change.

“As children get older they can be introduced to the 10-10-80 formula, which recommends that they save 10 per cent of any money they receive. This practice is a solid way to ensure financial security when they become adults,” she advised

She continued: “Teach your child the concept of disciplined saving by ensuring that they add to their savings regularly; teach them that in the long run, consistency will pay big dividends. They should also be encouraged to have a saving goal and to be committed to that goal and not dip into their savings prematurely. Move money from their savings pan to their bank account at intervals,” Miller advised.

She said children can also be taught the concept of delayed gratification by encouraging them to save towards achieving personal goals and objectives, such as expensive toys, gifts for friends/family, and entertainment outings.

“It is perfectly appropriate to add to your children’s savings effort, using the opportunity to teach them how interest on savings is calculated.”

KNOWLEDGE EXPANSION
Miller stated that parents can also help to expand their children’s knowledge base on finance by spending time watching educational videos about financial literacy with their children on websites and on YouTube.

“There are also many books which can be accessed free of cost on the Internet. Over time, children will become more financially savvy, and will naturally elevate their conversation from saving to investing as they become aware that investing is where real wealth is created,” she underscored.

The JN Foundation’s BeWise financial empowerment team leader also pointed out that along with financial literacy, it is important for parents to prepare financially for their children’s education.

“As you plan for their training, you should also make the necessary preparations for them to access tertiary education. If parents succeed in these two areas, they would have provided their children with a solid platform to not only enable their own financial security, but also by extension, the financial success of the country,” she explained.

Miller asserts that as the level of financial literacy increases, the level of financial inclusion in the society will increase, which will have a positive impact on the economy.

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Students and teachers at the Chavannes Basic School in Barbican were in a celebratory mood as the bathroom facility at the 43-year-old school was renovated and upgraded by the JN Bank Member Advisory Council.

“The bathroom was in a really bad condition,” said Caroline Brown, principal of the school. “Termites were eating away at the boards. Then JN came in and they assisted us as the facility became unsafe for the children.”

Brown said that the work involved removing the infected boards, spraying, replacing the bathroom vanity and toilet, as well as repairing the roof and improving the ventilation of the facility.

“The children are happy for it. Therefore, I extend our gratitude to JN Bank as we really appreciate the work which was done to improve the facility,” she said.

Christine Chambers said the Council decided to focus on early-childhood institutions for its project, and, as such, identified several of those institutions which needed assistance. Subsequently, Chevannes Basic School, which had greater needs, was selected.

“As we walked into the facility, my asthma triggered. It was an old trailer which was retrofitted. The inside lining of the bathroom was infected with termites. Therefore, to address it, we had to remove the entire lining of the bathroom and replace it,” she said.

“We are very happy that the Chevannes Basic School was selected, because those little children needed a bathroom facility which they could use in comfort,” she added.

Saniah Spencer, chief of marketing and product development, JN Bank, said that the Advisory Council was happy that they were able to assist the institution.

“The MAC (Member Advisory Council) tried to identify projects that would have an impact, and Chevannes Basic School is an institution which serves the communities of Stand Pipe, Papine, Gordon Town and as far as Portmore, St Catherine. Our children deserve the best and JN Bank was happy to be on board for the project,” she said.

The JN Bank’s MAC, formerly known as the Branch Advisory Councils, were established in 2006 to provide JN members with the opportunity to engage directly in the identification and selection of projects within their communities and positively impact the beneficiaries.

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The start of a new year always brings with it deep reflection. It’s a time when most persons often make decisions about the things they want to change in their lives or the goals they want to attain in the new year.
It is also a time when some persons frequently pause to reflect on the condition of their physical and mental health or the state of their finances. However, what many persons fail to realise is that these two subjects often go “hand in hand.”
Rose Miller, grants manager at the JN Foundation and head of the JN BeWi$e Financial Empower Programme, advised that the age-old adage, “health is wealth,” is more than a cliché. Miller pointed out that financial mismanagement can seriously impact one’s physical and mental well-being.
Recent statistics from the Bank of Jamaica (BOJ) revealed that $56.60 of every $100 earned by households in Jamaica is used to finance debt. The information was revealed in the Financial Stability Report 2018. That is the highest level of household debt mapped by the central bank to date, which highlights that Jamaicans are currently servicing three times more debt than they did a decade ago.
According to the BOJ, the underlying reason for the upsurge in debt relates to consumer loans, which have increased three times as fast as income annually.
Many more Jamaicans are also diagnosed with lifestyle illnesses, such as heart disease and strokes, with non-communicable diseases (NCDs) representing two-thirds of all deaths in Jamaica.
Miller noted that while NCDs share several common, modifiable risk factors – tobacco use, harmful alcohol abuse, physical inactivity, and unhealthy diet – taking strides to improve financial health can also have benefits for physical and mental health.
“Part of a wellness-centred lifestyle should also include paying careful attention to your finances and ensure that you’re setting yourself up for a prosperous life,” she advised.
Here are some of the most common ways poor money management can manifest itself physically.
1. Raised Diastolic Blood Pressure
High blood pressure is the precursor to a myriad of health problems, including but not limited to heart attacks and strokes. A 2013 Northwestern University study in the United States of America showed that adults ages 24 to 32, who had high debts, also had higher diastolic blood pressure. “This is an age group which, money issues aside, should be in optimal health. When it comes to heart disease, we can’t help our genetic predisposition; however, we can certainly make an effort to pay down our debts as quickly as possible, which will be of significant help,” she maintained.
2. Greater muscle tension
Muscle tension, including back pain, has been reported in persons with high debt stress. In addition, 44 per cent had migraines or other headaches, compared to just 15 per cent without debt stress, according to a 2008 Associated Press-AOL health poll. “If you believe you’re suffering from tension due to money problems, consider coupling your financial plan with exercises, such as: walking, aerobics, or simple stretches,” Miller advised.
3. Worsened digestive symptoms
The digestive system is often referred to as the centre of health. When under heavy financial stress, many persons do not maintain proper eating habits. Healthy food may not even be accessible or affordable for those in financial trouble. In addition, statistics from a 2008 Associated Press-AOL health poll reveal that 27 per cent of persons with high debt stress reported having ulcers or other digestive tract problems, compared to just eight per cent without debt stress.
4. Depression
If you have major debts, or if you recently lost your job, things can turn bleak very quickly if you are without a financial cushion. Feelings of despair are therefore common. The 2008 Associated Press-AOL health poll also revealed that some 23 per cent of those persons with debt reported having severe depression, compared to just four per cent who were not indebted. The poll also found that there was a 14 per cent increase in depression symptoms with every 10 per cent increase in personal debt.
Miller advised that a life well lived is based on proper financial management.
“While there are many things you can do to improve your physical and mental health, including exercise, eating right, cultivating meaningful relationships, getting regular check-ups and rest, there’s no denying the science behind, and the connection between, health and finances,” she maintained.
“Do everything in your power to keep your credit score high, your debt low, and your savings and investments plenty. You’ll reap the reward both physically and mentally. If needs be, prioritise health, as it is a critical pillar for a successful life.”

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