Sunday, April 21, 2024

OUTSIDE THE PULPIT: Banks taking us for granted


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Woe to those who lie upon beds of ivory and stretch themselves upon their couches and eat lambs from the flock and calves from the midst of the stall.  – Amos 6:4

AFTER READING THE SUNDAY SUN dated May 29 with the caption Interest Rate on Deposits Cut Again, I am forced to ask a very simple and important question: What is happening with the banking system in Barbados?

It was reported that from June 1, CIBC First Caribbean International Bank will reduce the interest the bank pays on fixed deposits accounts. This means that customers with regular savings, savings plus and senior savings accounts, for example, will earn 0.25 per cent for deposits as opposed to 0.50 per cent.

Customers with personal fixed deposit accounts will also see their interest earnings halved to 0.50 per cent from one per cent.

What are we doing as customers? The answer is nothing, beyond calling the call-in programmes and writing letters to newspapers. That is all.

We need to purchase more Governmentbonds. We need to send a strong message to the banking fraternity for they are using ourmoney (savings) as investments through loans.We need to take an example from St Vincentand the Grenadines where customers of a bank formed long lines to withdraw their money when slapped with a minimum $25 charge for maintainingan account.

Why would a bank do that? We in Barbados have not reacted in any way to our situation.

All these adjustments are morally wrong andshow what the love of money can do and will do. We must do something about it now before it istoo late.

There are many old people who have savings in the bank to bury them and if the bank is picking away $25 each month, sooner or later nothing will remain to bury them? Will the bank do the job?

Come on, we must tell the banks that what they are doing is wrong.

Harvest fair

St Aidan’s Anglican Church at Bathsheba will be holding its annual harvest fair on Saturday on the church lawn from 12 noon to 6 p.m. Do not miss Canon Massiah’s famous pig tail soup.


St Aidan’s harvest will take place on Sunday with sung Eucharist at 7 a.m. and the harvest programme at 4 p.m. Those taking part will be the church choir and the Sunday school. 

Annual concert

The Mothers’ Union of the St John’s Parish Church will hold its annual concert on Sundayat 4 p.m. 

Moravian Church Credit Union AGM

The Moravian Church Credit Union’s annual general meeting will be held tomorrow at the Duncan C. Moore Centre, Sharon, St Thomas at 4:30 pm.

Jazz In The yard

St Mary’s Anglican Church will be holding Jazz In The Yard – A Heritage Gala, on Saturday, June 11, on the lawns of the church, Cheapside, Bridgetown, from 5 p.m. to 9 p.m. 

Feast of title

St Philip-the-Less Anglican Church will be celebrating its patronal festival (feast of the title) from Sunday until June 12, with the theme We Are One In The Spirit, We Are One In The Lord.

On Sunday, procession, Holy Eucharist and sermon will be at 8:30 a.m. and evensong at 6 p.m. Services from Monday to Friday will be at 7:30 nightly.

Patronal festival

The Church of St Barnabas will be celebrating its patronal festival from Sunday until June 12, with the theme The Ships of Our Faith with Rev. Dr Monrelle Williams.

There will be services each weekday next week at 7:30 p.m.  On Saturday, June 11, the parish picnic to Bath, St John will take place. Buses leave the church at 9 a.m.


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