Growth & Jobs | Police Federation welcomes return of group savings product

AS EFFORTS to strengthen the financial well-being of the Jamaica Constabulary Force (JCF) members intensifies, the Jamaica Police Federation (JPF) has emerged as the first group to support the return of the JN Bank Affinity Account, a specialised group savings product.

JN Bank reintroduced the product to the market in May, as part of its broader savings culture to promote financial wellness, security and smart savings among groups and organisations.

The savings account enables churches, associations, service and other clubs and organisations to save collectively, with both groups and their individual members eligible to benefit from incentives offered by the JN Group for saving with the bank.

The product was redesigned to meet the needs of goal-oriented groups, while also opening a pathway for grassroots and informal community-based groups to engage in structured, secure saving. Each group may open one account, with individual members allowed to open multiple accounts once the group account is active.

Welcoming the relaunch as a timely initiative to help law enforcement officers secure financial stability, Sergeant Arleen McBean, chair of the Jamaica Police Federation, said, “I know this will not only benefit the rank-and-file members, but the entire Jamaica Constabulary Force.”

She made the remark during the recent staging of the Federation’s 82nd Annual Joint Central Conference. The two-day event was held at the Princess Grand Hotel in Green Island, Hanover, with the JN Group as one the main sponsors, under the theme ‘Embracing Transformation Through Partnership and Unity’.

Highlighting the importance of partnerships, Sergeant McBean added, “Financial management and wealth creation are critical for our members and their families. We welcome this initiative, and we would love to see JN tap into those who serve, protect, and reassure the citizens of Jamaica. I have no doubt that our members will be pleased to learn about this product and will actively engage with the services offered.”

Through pooled contributions, the federation, its members, and other groups, along with their individual members, can access competitive rates, benefit from higher interest returns, and participate in a structured system that promotes disciplined financial habits. The product also offers access to free audit letters or Certificates of Balance for tax purposes at the end of the financial year, as well as retirement and life protection planning sessions, reinforcing its purpose beyond basic saving.

One of the most compelling features of the product is a bonus paid to group accounts every year. JN Bank said the bonus will be calculated based on the accumulated net interest from affiliate member accounts. This structure means that, the more members save collectively, the greater the potential payout.

The federation’s embrace of the Affinity savings product comes in the context of its broader push for financial wellness amid its recent call for government to improve the salary packages and health insurance coverage for members of the JCF.

Sergeant McBean said driving financial education is on the federation’s agenda for the future, an effort that will help reduce financial stress and contribute to greater workforce stability and morale.

“We’re looking at advancing our financial literacy and entrepreneurial initiative as part of our key plans moving forward. We hope to tap into this as soon as possible,” she disclosed.

Reaffirming JN Bank’s long-standing commitment to the financial well-being of groups and community champions, Ricardo Williams, head of branch sales at JN Bank, said the relaunch of the Affinity Account reflects the institution’s ongoing efforts to strengthen partnerships and grow alongside organisations like the JPF.

“We believe that partnerships are essential to building a stronger Jamaica,” he stated. “Over the years, we’ve worked closely with various organisations, and we remain committed to helping groups like the JPF build and secure their financial futures through tailored financial solutions and support.”