Contributed by Chevon Morris
Jamaican banks offer a extensive array of banking services, but perhaps the main services are concentrated under three types of institutions - Commercial Banks, Credit Unions and Building societies.
I'll share a few of the services afford by the the major institutions with you below.
has seven commercials banks, as categorized by the Bank of Jamaica as
of February 28, 2010.
These include, The Bank of Nova Scotia Jamaica Ltd (BNS), First Caribbean, Citibank, First Global, RBTT Jamaica Ltd, Pan Caribbean and The National Commercial Bank.
Three of the most popular credit unions in Jamaica are City of Kingston Co-operative Credit Union Ltd (COK), the Montego Bay Cooperative Credit Union, and the Churches Credit Union
The most popular building societies in Jamaica are The Jamaica Building Society (JNBS) and Victoria Mutual Building Society (VMBS).
From as early as 1867, the concept of the Building Society was introduced to Jamaica to assist working and middle class people in realizing their dream to own their own home.
the ensuing years, a number of Building Societies sprung to life and in
the year 1865, an Act for the Regulation and Encouragement of Benefit
Building Societies was passed.
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