2021 –
LET’S DO THIS!
JANUARY
EDITORS’ MESSAGE
Thank you Team VM for all we were able to achieve together during an especially challenging year. Thank you too for helping us kick this year off with a bang at the VM Group Business Conference. Your participation made the event a success and your feedback will be instrumental in ensuring the next one is even better. This edition features photo highlights from the conference and a few tips that should help you move into this year on a high note. As usual, if you have any feedback, questions or concerns, let us know at: VMCorporateAffairs@myvmgroup.com
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CONTENTS
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Page 6 3 tips to make 2021 your greatest year yet. What’s behind us is behind us. What’s ahead of us is the beauty of a future that’s ours to create.
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2021 VM Group Business Conference – Virtually Uplifting
In case you missed it
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Team, we are still on a high from the recent VM Group Business Conference.
Here are some important advisories that have been shared this month.
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Team, we are still on a high from the recent VM Group Business Conference. It was a high energy event that nothing – even being socially distanced – could stop. Here are a few
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2021 VM GROUP BUSINESS CONFERENCE VIRTUALLY UPLIFTING
highlights from the ground-breaking event.
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3 TIPS TO MAKE 2021 YOUR GREATEST YEAR YET.
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What’s behind us is behind us. What’s ahead of us is the beauty of a future that’s ours to create. Your greatest year will be what you make of it. Here are three tips to help you step into 2021 and turn it into your best 365 days to date.
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3 Create a breakthrough goal – Set a goal for yourself that would change your life if it happened. It should be something within your control and preferably something doable within the year. Then do it! The result will build your confidence and set you on a new and exciting path.
Make lasting memories – If nothing else, last year reminded us about the value of the things that really matter. Spend time with loved ones, go for a morning walk or try something new. Whatever you do be sure to be fully present to it – no texting or checking emails. You’ll enjoy it more in the moment and you’ll take more of the memories with you.
Get your finances in order – Wherever you are, you can always step your game up. So it’s time to tweak those goals – or create them of you haven’t yet. Look back at last year as a reference then decide on what you’ll be doing this year. Make a dent in your debt, start an emergency fund or get involved with the stock market. Feeling good about your finances is the foundation for a great year.
Whatever you think a great year looks like, the important thing to remember is that it starts with you. So, be kind to you. Eat well, rest well and take care of yourself, so can get out there and make it happen.
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IN CASE YOU MISSED IT
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HERE ARE SOME IMPORTANT ADVISORIES THAT HAVE BEEN SHARED THIS MONTH.
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Even as we purposefully move forward, it is important that we acknowledge that, for people all over the world, 2020 was marked by unexpected and unprecedented challenges. Our business, our Members and clients, and you, the VM Team were all impacted in different ways. But, COVID-19 did not break our spirit, nor did it compromise our resolve to fulfil our promise to those we serve. Team, I am grateful as we begin a new year, for the grace, resilience and commitment to purpose that you demonstrated last year. As the situation evolved, you adapted to ensure that our life-changing products and services were not stalled, and the financial education we have committed to offering was delivered. Among other things, this resulted in: ® A record number of mortgages disbursed and strong deposit growth ® A record number of remittance transactions executed
® A new three-year Strategic Plan launched ® A Member Focused Digital Townhall executed along with numerous Financial Education videos, digital newsletters and social media posts in keeping with our commitment to provide financial education because we care
THE PATH BEFORE US As we look ahead to 2021 and beyond, we must be mindful of the local and international context. The economic impact of COVID-19 will linger for some time, despite some recent positive developments regarding vaccines. While local authorities expect that the worst is behind us, latest projections for the 2020/21 Financial Year are for real economic activity to contract in the range 10–12%, instead of the previous projection of 7–10%. The Bank of Jamaica anticipates partial economic rebound this year but does not expect a return to pre-COVID-19 levels before the 2022/23 Financial Year, at the earliest. This means that we are called to be precise in our actions, eminently focused on our purpose and relentless in the execution of our plans. Our new VM Group Vision & Mission should be our North Star.
VISION
® Impressive performance by VM Finance UK
A leading Caribbean-based, Memberfocused organisation transforming lives by advancing the financial well-being of individuals globally.
® An expanded VM Wealth network as well as a new Client Management Portal being implemented
MISSION
® Moratorium arrangements efficiently crafted and executed for Members facing hard times ® Two hybrid Annual General Meetings successfully hosted
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We are a Mutual organisation whose purpose is to empower our Members globally to achieve financial well-being through home ownership and innovative investment solutions delivered across multiple channels by an expert and caring Team.
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We have come to the start of a new year filled with unlimited potential to achieve great things both personally and professionally. Let us take some time to consider carefully how best we will proceed in the coming days, weeks and months to realise our greatest aspirations. Everything is possible.
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Dear VM Team,
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At the core of our focus captured in these new Vision and Mission statements, is our commitment to transforming the lives of those we serve. This is no small promise and should not be taken lightly. We are pledging to our Members and clients that we will help them achieve their financial goals, uplifting not just them but their families as well. There is a lot on the line, and I am confident that we will do what is necessary to ensure we honour this promise.
A CALL FOR RESILIENCE
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Our 2021-2023 Strategic Plan charts the path to an exciting future and if executed as outlined, will see us realising unprecedented levels of growth fuelled by Memberfocused innovation, Digital Transformation and regional expansion. We are aiming at a significant change in the scale of VM’s operations as we impact exponentially more lives than we currently do.
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organisation, our Members and fellow Team Members. Much progress has been made regarding our collective risk management practices but there is still work to be done. We must strictly adhere to our risk management policies not for adherence sake, but because we understand what is at stake and appreciate our role in ensuring VM stands strong for future generations. This is an opportunity to demonstrate VM’s Core Values, particularly Member Focus, Integrity, Teamwork and Excellence.
OWN THE OUTCOME
Team, I look forward to the coming months with great optimism. The SBUs have some exciting plans for 2021 and beyond, which will be outlined at the VM Group Business Conference on January 9. I am eager to witness the increased collaboration and innovation that will see these plans being effectively executed.
It will also mean that VM will be better placed to withstand shocks to the financial sector. Lessons learnt from the FINSAC crisis of the 1990s, the global economic downturn in 2009 and COVID-19’s impact in 2020 demonstrate clearly the need to ensure that the business is well positioned for the unexpected.
These are exciting times. VM is prepped and ready to take flight. We must thoughtfully consider our respective roles – some as pilots, others as first officers. All roles are crucial to this journey and I trust and encourage you all to purposefully own your roles and help VM soar to new heights.
The world is in a turbulent place right now and we all have a part to play in ensuring that VM is protected and remains resilient. This means that every Team Member must take full responsibility to protect this
Courtney Campbell President & CEO VM Group