THE EASE OF opening an account at the St Vincent Co-operative Bank (SVCB) Limited is one of the reasons the bank remains one of the most trusted financial institutions in St Vincent and the Grenadines (SVG). On February 1, the institution known as the “Penny Bank” and “Forde Bank” (after one of its founders Ormond Forde), celebrated its 75th anniversary and according to Senior Accounts Clerk Claudius Millington, the “Penny Bank” is still one of the best financial institutions in SVG. He said that when the indigenous bank opened its doors on February 1, 1945, a penny was all that was required to start an account, so the relative ease of opening an account from inception has resulted in the Penny Bank now holding more savings accounts than any other financial institution in the country.
The Bank’s mantra, ‘Service beyond your expectation’, is reflected in its mission statement and implemented by a courteous, efficient and reliable staff.
The Bank started its anniversary celebration on February 1 and on February 2, the staff attended a church service was held at the Kingstown Baptist Church followed by a luncheon at Young Island.
The celebrations continued on February 20, with a customer appreciation day where blood sugar and blood pressure screening were done free of charge.
Millington said that apart from the bank’s services, they also pride themselves on their corporate social responsibility and as a result have done community outreach which has seen several persons and organizations benefiting.
He said the bank’s latest initiative involves partnering with individuals in funding dialysis treatment for kidney patients, while sensitizing persons about the seriousness of kidney disease. The Bank’s website also notes that they take their corporate social responsibility seriously and over the years have provided financial support to several charities and other non-profit organizations.