Quo Vadis, St Vincent Building and Loan Association?
Editor: I remember some years ago a certain writer to the press wrote an article and signed Quo Vadis. I cannot now recall what the gist of the article was, but it resulted in legal implications. This article is captioned: Quo Vadis, St Vincent Building and Loan Association? In my own parlance I am asking a question “Where is the St Vincent Building and Loans Association heading?{{more}}
The financial crisis, which the association weathered when undisputed evidence surfaced due to an ill wind which almost blew the good ship off course, is now behind. Had the FSA not taken over the helm and dealt with the adverse situation regarding the leaks, the ship would have floundered.
What is most disheartening in the fiasco is the fact that even those who were involved in occasioning the leaks were not prepared to assist in the caulking. This was evident when a meeting of the shareholders/depositors was summoned. Some took the opportunity to abandon ship and call it quits.
Despite the bad-mouthing, however, the Association has survived, is surviving and will survive. The recent Annual General Meetingâs financial report and the article which appeared in the Searchlight newspaper issued July 4, 2014 testify to this.
Surely, it is indeed heartening to read the auditorâs report and, as mentioned in your paper, that after experiencing a loss of $11,000,000 it shows a profit of $3,000,000. Who can doubt that this is an amazing achievement in such a short time?
The new management, under the capable hands and highly qualified CEO, a hardworking and conscientious staff, together with a number of sensible shareholders/depositors and Board of Directors, is prepared to lift the Association to an even higher level than that which it accomplished and enjoyed in its earlier years. These men and women of principle shall be the Associationâs principal men and women. Surely, the Association has weathered the initial storms and is moving ahead with full speed and is already sailing in calmer waters.
Unfortunately and sadly, the bad-mouthing has not ceased, but I venture to say that if good sense prevails, many who have turned their backs on the institution will reconsider their decision and become involved again the in the re-building of this worthwhile institution, which has served not only the Vincentian public locally, but also numerous persons in the diaspora.
The Association deserves your support. To use my earlier analogy, let us make every effort to keep the good ship afloat as the crew seeks to steer it on its proper course and to a safe haven.
You are welcome aboard.
Carol Vincent
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