VM Building Society is offering a loan moratorium of up to six months and other financial relief measures to support its members whose homes or livelihoods were impacted by Hurricane Melissa, particularly across western Jamaica where the storm caused significant disruption and loss.

In a release, the mutual society said that it will individually assess each request for moratorium support to understand the member’s unique situation and determine the best option. Based on the severity of impact, VMBS may grant moratorium support for up to six months, ensuring flexibility and responsiveness to its members’ needs.

In addition, VMBS members may qualify to access additional funding through a reloan based on the amounts they have already paid down on their mortgage. This provides added financial room to address repairs, rebuild, or restore stability during the recovery period.

“At VM, we understand that a home represents more than a physical space. It is security, comfort and belonging,” said Paul Elliott, chief executive officer, VM Building Society.

“For members now facing uncertainty, we want them to know they are not alone. We stand with them, and we are committed to walking alongside them through this recovery period.”

The mutual society is encouraging its members whose homes or livelihoods have been affected to reach out to a branch or the Member Engagement Centre it to enquire about assessments and declare their circumstances in order to reeive guidance on the best available options.

Requests for support may be made through vmassist.myvmgroup.com, by calling at (876) 754-VMBS (8627), or in-branch at any VM location.

VMBS is also offering support to members experiencing difficulty with credit card payments due to income disruption. Those affected can contact the credit card team at [email protected].

Meanwhile, requests for fee waivers or payment holidays are being reviewed on a case-by-case basis, with the goal of finding the most suitable way forward for each Member.

“As a mutual organisation, our purpose is rooted in supporting our Members and our communities,” Elliott added.

“Recovery will take time, but we are committed to being present with compassion, commitment and care. Together, we will rebuild stronger, safer and better.”