Barbadians are being called on to take their monies out of the banks and invest them in the credit unions.
At the same time, the credit unions are being warned not to charge their customers fees, following a move by a leading commercial bank this week to adjust some of its fees.
Government Senator Lynette Holder on Wednesday expressed disgust at the move by CIBC FirstCaribbean International Bank to change its fee structure on chequing and savings accounts from July 1.
Holder, who is also chief executive officer of the Small Business Association, said it was important that credit unions lobby for change so they could offer current accounts and some of the critical services needed by members. (DR)
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