More Persons Funding College Through Savings
Published: Oct 6, 2013
Jamaica's largest bank is also one of the top providers of education savings options, whose portfolio up to last year was valued at close to J$23 billion.
The figure represents a 19 per cent annual gain in National CommercialBank Jamaica's OMNI Educator savings pool, which may well serve as proxy for a market in which the anecdotal evidence points to increasing subscriptions for products that are used to fund both local and foreign tuition.
It's a market to which Jamaica's 40-plus credit unions have long pitched their savings products; that Scotiabank Jamaica has tapped into through ScotiaMINT - a portfolio that is valued at J$42 billion but extends beyond education savings; and First Global Bank serves through its 'Global Kids & Teens' accounts.