'People deserve better'

“Over the past months, you the people of Virgin Gorda shared some of the inconveniences being experienced such as having to pay close to $100 in transportation fees via boat from Virgin Gorda to Tortola and on land upon arriving to Tortola as well as other unavoidable expenses that were occurred such as food among other expenses just to change a $150 cheque,” Premier Fahie said in his remarks at the launch.

“People of Virgin Gorda, you deserve better and today better has come,” Hon Fahie said to the loud applause of those present at the opening ceremony of the bank.

“Also, many persons in Tortola witnessed many workers coming from Virgin Gorda to Tortola, literally running off the ferry boats to the banks desperately trying to change their cheque before the bank closes with the hopes of catching the next ferry back to Virgin Gorda,” he said.

The Premier noted that for local business owners and the feeling of insecurity over keeping large sums of money is over. With the opening of the bank ‘the feeling of concern’ will be reduced the Premier said in highlighting that while the promised was delayed, it was not denied and the opening of the facility represents a new day for the people of the island.

Partnership initiative

Premier Fahie thanked the management of the bank for responding positively to the partnership proposal of his government and expressed gratitude to Minister for Natural Resources, Labour and Immigration and Ninth District Representative, Hon Vincent O. Wheatley, along with Junior Minister for Tourism Hon Shereen D. Flax-Charles in addition to Junior Minister for Trade and Economic Development, Honourable Sharie B. deCastro for pushing the initiative constantly.

CEO of Banco Popular Inc, Ignacio Alvarez, in brief remarks, said he was a frequent visitor to the island for over 25 years and always had a good time except for when it was time to get money. He thanked the Virgin Islands Party (VIP) government for fostering the partnership and working together to solve a problem that has plagued the island for over a year.

Honourable Wheatley noted that it was a private/public partnership to advance the economy, and such partnership not only advances Virgin Gorda but the territory. "It shows that our recovery is alive and well," he said.

"The people of Virgin Gorda thank every single one of you, the bank rush, the headaches, the stress, the loss of time and money.... we went there," he said in also thanking former Premier Dr D. Orlando Smith for starting the race.

Hon Wheatley also moved to recognise the contributions of Mr Romney A. Penn for helping to secure the building for the bank.

See previous article published November 6, 2019

Banco Popular on VG opens @ 12:00pm today, Nov 6, 2019

- 24 hr ATM, night deposits, consumer & commercial loans available

After a year’s absence, banking services return to Virgin Gorda from 12:00pm today, November 6, 2019, with the opening of a Banco Popular Branch at Yacht Harbour.

This was announced today at a press briefing by Banco Popular, which has been providing financial services in the Virgin Islands since 1981.

“This expansion of Popular financial services to Virgin Gorda reaffirms the bank’s commitment to the Virgin Islands and providing solutions to make life easier for their customers,” Banco Popular stated.

Apart from today, the Virgin Gorda Branch will be opened Mondays, Wednesdays and Fridays from 9:00am to 4:00pm to offer lobby services to customers. The bank will also offer 24hr access to a walk-up ATM with easy deposit technology and a commercial nightly depository.

Night deposits; Consumer & commercial loans available

The bank said all commercial night deposits will be processed on Mondays, Wednesdays and Fridays. Along with lobby cash transactional services, clients will also be able to apply for consumer and commercial loans."

“We are very happy to have a presence in Virgin Gorda. This branch will not only meet the banking needs of residents, but also the needs of visitors to Virgin Gorda. We look forward to serving all customers for many years to come,” said Oran C. Roebuck, Senior Vice President and Division Manager for Popular, Virgin Islands Region.

Meanwhile, Premier and Minister of Finance Honourable Andrew A. Fahie (R1), who had championed the efforts to return banking services to Virgin Gorda, is on the sister island for today’s opening.

Scotiabank closed its Virgin Gorda branch in 2018, putting a severe strain on residents and businesses as they had no choice but to commute almost daily for related businesses on Tortola.