At Victoria Mutual, having an account with us makes you more than a customer, it makes you a MEMBER and an OWNER of our Building Society.

Although we offer similar services to banks, a mutual is different because we do not pay dividends to external shareholders. In fact, a Mutual is a true partnership between all our Members and us.

How it works

Money deposited as savings is pooled together so that those wishing to access a loan in order to purchase a home may do so. The interest paid by our borrowers on their loans is then passed on to our savers as interest and or re-invested into the business to cover day to day costs and the continuous improvement of our products and services.

The #PowerofVMMembership
for YOU

At Victoria Mutual, we partner with you in improving your quality of life as you save towards your dreams of furthering your education, starting a business, advancing your family, homeownership, preparing for retirement and saving so you can attain financial independence. Your interests are at the core of every decision we make. Over the years we have helped thousands of Members achieve their dream of homeownership.With a tradition of treating our Members like family, you are bound to feel at home at Victoria Mutual. Once a Member, we never close your account; you are a part of the Victoria Mutual Family for life.

The #PowerofVMMembership allows you to:

  • Earn higher interest rates on your savings compared to rates offered by banks
  • Obtain lower mortgage rates (on average 0.47% lower than our competitors' rates in 2015)
  • No-or-low transaction fees

In 2015, the value of these benefits to our Members was approximately $400 million JMD. Now that's value you can trust.

Our Roots

Our tradition of mutuality began when we were founded in 1878, thirteen years after the Morant Bay Rebellion. Looking at the social landscape at the time, Reverend G. W. Downer and several other clergymen concluded that there was not enough progress being made in helping ordinary Jamaicans own their own homes and achieve financial independence. On November 14 of that year, forty years after the abolition of slavery, they established Victoria Mutual Building Society (VMBS) with the purpose of giving ordinary "deserving and thrifty" Jamaicans access to financial services. Their vision was one of empowerment of the masses through partnerships that involved the pooling of resources to save and acquire homes. 138 years later, our commitment to this mission of upliftment and inclusion remains the same.

Our Promise

Victoria Mutual has brought diversity to the financial landscape in Jamaica and increased competition through its services in the financial sector. With our focus on our Members instead of a few key stockholders, we have expanded the financial inclusivity of the market making financial services accessible to everyone. As a Member of Victoria Mutual, our commitment is to you first.

We promise to:

  • Operate in your best interest
  • Be honest and trustworthy
  • Actively listen to your concerns so we may better serve you
  • Make you feel like family through our quality customer service
  • Improve the savings and financial literacy of our Members
  • Be innovative as we strive to offer the highest quality products and services

With the #PowerofVMMembership, our home is your home. Join our family or reactivate your dormant account today to enjoy all our Member benefits.


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