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Credit unions back off from bricks-and-mortar idea


The proposed establishment of a locally-owned cooperative bank for Barbados may be off the table.
President of the Barbados Cooperative & Credit Union League (BCCUL) Hally Haynes has said that certain developments in the financial services sectors in recent years are pointing the movement towards a digital operation instead of a physical structure.
“The bank is something we will have to revisit given that a lot of things have changed in the last three years,” Haynes told
Barbados TODAY.
“Correspondent banking relationships, that is one of the critical components.  If we are going to establish a bank, you have to ensure that you have correspondent banking relations…then you have to look at how the industry is moving.  So there are a lot of factors to consider when we revisit the bank…whether we move to a digital bank or we look at brick and mortar,” he stated. ....

Hally Haynes , Barbados Worker Union , Barbados Cooperative Credit Union League , Credit Union , Barbados Cooperative , Union League , Bridgetown Cooperative Credit Union , ஹாலி ஹேன்ஸ் , பார்படோஸ் தொழிலாளி தொழிற்சங்கம் , பார்படோஸ் கூட்டுறவு கடன் தொழிற்சங்கம் லீக் , கடன் தொழிற்சங்கம் , பார்படோஸ் கூட்டுறவு , தொழிற்சங்கம் லீக் , பிரிட்ஜ்டவுன் கூட்டுறவு கடன் தொழிற்சங்கம் ,