We make it easy for you to start saving
INTERIOR OF THE original Penny Bank
Press Release
March 13, 2020

We make it easy for you to start saving

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.

SENIOR ACCOUNTS Clerk Claudius Millington

Millington said that persons wanting to join the institution can do so with EC$50, proof of address and two pieces of identification. He said the bank has exceptional employees as all of their 30 staff members are at the top of their game.

The Bank’s mantra, ‘Service beyond your expectation’, is reflected in its mission statement and implemented by a courteous, efficient and reliable staff.

According to Millington, the Bank started its anniversary celebration on February 1 and on February 2, 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.

There was also the launch of the ‘Dream Land’ Loan product, a land only promotion in which clients are encouraged to find a piece of land they want to purchase and come to the bank to make it happen.

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 benefit.

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.

“In addition, we have supported students with scholarships to the Community College and the Technical College and provided bursaries to students attending secondary schools,” said the website.