Stop the nonsense talk, let’s get BLA back on track

Tue Feb 19, 2013

Editor: Here is my take on the St Vincent Building and Loan Association ongoing situation:

1: We must know that a significant percentage of the deposits at SVBLA belongs to Vincentian residents abroad and they are getting ready to move their funds out of the country.{{more}}

2: We must stop all members of SVBLA who have credit accounts and mortgages with the Association from removing any form of CASH from the institution.

3: We need both the Prime Minister and the Opposition Leader to stop the nonsense and work together to protect Vincentians’ assets and create a solution to save the institution.

4: We must know that a Building and Loan failure will wipe out all the other Credit Unions, because Vincentians will move their funds to safety.

5: I am certain the Caribbean Central Bank will assist financially, so the FSA must be very careful with the usage of such funds.

6: We must have confidence in our leadership, the Prime Minister, as well as the Opposition Leader, so that they will protect the interests of SVBLA depositors.

7: ——— On and on

Brewster