On February 1, 2017, The Jamaica National Group, a powerful, Jamaican mutually-owned global business, became a reality and the country’s third largest commercial bank, JN Bank, was launched. Following the re-submission of the Jamaica National Building Society (JNBS) application for a commercial banking license in November 2013 to the Bank of Jamaica (BOJ), the application was approved by the BOJ in February 2015. The country’s third largest financial institution at the time, the Society commenced the process to convert the building society into a commercial bank and to restructure the JN Group. The JN Group has been restructured to ensure compliance with the new Banking Services Act. The reorganisation of the JN Group involved the establishment of the JN Financial Group, a financial holding company, which will own the new JN Bank and all other companies in the JN Group that offer financial services. These companies are: • JN Fund Managers Ltd. (JNFM) • JN Life Insurance Ltd. (JN Life) • JN Money Services Ltd. (JNMS) • JN Small Business Loans Ltd. (JNSBL) • JN Cayman Ltd. JN General Insurance Ltd. (JNGI) A Non-Financial Holding Company, the MCS Group has also been established to take ownership of non-financial entities in The Jamaica National Group. These non-financial entities are: • Jamaica Automobile Association (JAA) • JN Properties Limited • Management Control Systems (MC Systems) The Creative Unit (TCU) Total Credit Services Limited (TCS) Both the JN Financial Group and the MCS Group and the entities under their control will be under the direct control of The Jamaica National Group. All members’ rights under mutuality will be transferred to The Jamaica National Group and JN Bank account holders will automatically become a member of The Jamaica National Group.