The branch on Juancho Yrausquin Boulevard was opened officially on Friday afternoon amidst much talk about the bank's commitment to serving the people of the country, as well as those of St. Eustatius and Saba. As testimony of the socially-oriented mission of the 106-year-old institution, US $5,500 was given to five community groups and five computers were given to Philipsburg Jubilee Library.
Managing Director Daniel Hodge said the bank, as a specialised credit institution, had been helping some people to save and others to move on to buying their own homes. The bank had operated via Nieuwe Post Nederlandse Antillen (the Post Office) for most of its existence in St. Maarten.
Postspaarbank has had "a passive approach" in St. Maarten, St. Eustatius and Saba for far too long, he said. This new branch ushers in a "new era" and underscores the bank's commitment "to be more active" on the three islands and to addressing the need for more affordable houses.
Hodge highlighted the prominent role of independent Member of Parliament Patrick Illidge in the process of establishing a branch here. Illidge began efforts to open a Postspaarbank loan centre in St. Maarten during the first weeks of his appointment as Minister of Telecommunication and Transportation of the former Netherlands Antilles in 2010. As interest grew, the bank realised that a full-fledged bank was needed, not just a loan centre.
Illidge said the opening of the branch fulfilled a goal of serving the St. Maarten people and providing a catalyst for helping "young couples" own a house through reasonable mortgages of between NAf. 200,000 and NAf. 300,000.
He said a lot had been said when he went independent in October 2010 and gave his support to the United People's (UP) party/ Democratic Party (DP) coalition. This move was not about politics, but serving the people, he said, thanking the coalition ministers for their continued support.
Prime Minister Sarah Wescot-Williams recalled the empowerment the little yellow savings books from the bank had given many people years ago and the pride fostered when they changed to the little brown savings books as they continued to prosper. She welcomed the bank's presence in the market and said she looked forward to its making good on its commitment to the people.
Cura�ao Minister of Telecommunication and Transportation Charles Cooper said that as the family ties among the former Antillean islands would endure, so would Postspaarbank's commitment to the five islands. The bank is not only concerned with market profit, but with the wellbeing of the people, he said.
He invited residents to "stop by the bank and have a cup of coffee" with local Branch Manager Jacienth "Helen" Lejuez as of Monday when the bank starts its first full day of service to the public.
Lejuez was introduced by Hodge as the "face" of Postspaarbank for St. Maarten, St. Eustatius and Saba. She is a St. Maartener who has some 35 years of experience in banking. She said the bank would aim to enhance the standing of its customer base and expand its reach.
Along with the unveiling of the bank's name-sign and the symbolic ribbon-cutting to open the branch by Wescot-Williams, assisted by Cooper, Illidge and Hodge; cheques for US $1,000 were given out to Imbali Centre for Creative Movement, Home Away from Home Foundation, Mega D Foundation (St. Eustatius) and Saba Benevolence Foundation. Another cheque for US $1,500 was given to Ruby Labega Primary School.
Philipsburg Jubilee Library received five computers from Postspaarbank, in fulfilment of a promise made by Illidge to the institution in September 2010 when he was a minister.
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