View Article

23

A local Credit union has noted an increase in new members as a result of account charges imposed on bank customers.

The revelation was made during an interview with the director of the St.Lucia Civil Service Co-operative Credit Union Mr.Zepherin Francis on Tuesday morning. RBC Royal Bank announced in June that there would be a monthly $25 fee on consumer accounts. Since then many St.Lucians have expressed their outrage and have subsequently closed their accounts.  The National Consumers Association previously urged patrons to use credit unions instead of banks.

Director Francis says the implementation of bank fees on customer accounts has caused an increase in membership at the union.

Francis says although he understands why the banks need to implement fees he noted that credit unions handle client accounts differently.

Representatives from RBC have previously acknowledged that customers have closed their accounts, however they never specified the number of account closures.
Actions: E-mail | Permalink |

Post Rating

© 2018 by RCI St. Lucia   |   Login