Victoria Mutual celebrates Jamaica 50 with big savings

By Admin Friday April 13 2012 in News
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KINGSTON, JAMAICA: The Victoria Mutual (VM) Group has announced the second major initiative on its list of Jamaica 50 celebrations, with the unveiling of the ‘VM Win 50 Savings Promotion’. The promotion allows members to benefit from prizes, including a brand new home in a prime location. Representatives from the financial media, as well as members of the Victoria Mutual team, were in attendance at a special media breakfast held recently at Victoria Mutual’s Knutsford Boulevard office, where the announcement was made.



Guests enjoyed traditional Jamaican breakfast favourites such as ackee and saltfish, Johnnycakes and old-fashioned chocolate tea, as the Victoria Mutual rekindled its roots as a solid Jamaican financial company and connected its new promotion to the Jamaica 50 milestone.



Addressing the gathering, Senior Vice President and Chief Operations Officer, Peter Reid, said that the promotion gives clients a chance to ‘hold Independence in the palm of their hands’ with the opportunity to win one of three grand prizes as well as 50 fortnightly prizes. Savers and investors get 10 chances to win with every deposit of J$50,000, US/CAD$500 and £500 (existing funds), five additional chances for every $50,000, US/CAD$500 and £500 of new funds in a VMBS or Victoria Mutual Wealth Management account and one additional chance for every year that their account has been in existence.



The VM Win 50 promotion will be open to all Victoria Mutual Building Society members, excluding team members and their immediate family, as well as VM Wealth Management customers.



The three grand prizes emphasize the institution’s long-standing tradition of helping Jamaicans to realize their home-ownership goals, as members and customers who enter have a chance to win the gift of a brand new home in either The Palms, Richmond, St. Ann; Caymanas Golf and Country Club Estates, St Catherine or Florence Hall Village, Trelawny.



Other prizes include iPad 2s, smartphones, iPod Touches and $10,000 worth of Jamaican Public Service Company, grocery and fuel coupons.



Reid also said that members and clients would not be the sole beneficiaries during the promotion. “Our valued team members will also benefit from a specially designed and extensive reward program,” he said.



Renowned primarily for its mortgage offerings, Victoria Mutual recently heralded its Jamaica 50 celebrations with a reduction on its mortgage rates. New mortgagors were offered an interest rate of 9.39 per cent, a move the institution called a ‘tangible gesture’ designed to reward their support throughout the years.



Vivienne Bayley-Hay, Vice President Group Marketing & Corporate Affairs, said that the promotion is another way in which the company is seeking to provide value for its members and Jamaicans at home and in the Diaspora, especially against the backdrop of the recent economic downturn. She pledged Victoria Mutual’s continued support as the Group rolls out additional initiatives designed to facilitate the progression of the financial wellbeing of its members and clients, particularly during the celebration of Jamaica’s 50th year of Independence.



For more information, contact Victoria Mutual’s Canadian office at 416-652-8652 or toll free at 1-800-465-6500. The email is The website is and the address is 3117A Dufferin Street, Toronto, Ontario M6A 2S9.


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