The 1st National Bank Debacle- The Penny Bank Let good CENTS prevail

The matter which has been festering for weeks now concerning the 1st National Bank is a travesty for many reasons as it highlights issues of :

1. Violations of workers' rights

All workers must receive equitable wages for their labour. Fair wages are essential in many industries to ensure that employees are not lured or tempted into nefarious activities that jeopardize the well-being of customers and citizens. Good working conditions, including fair wages, are important human rights.

2. Poor banking governance in Saint Lucia

It is troubling that both of Saint Lucia's local banking institutions, Bank of Saint Lucia and First National Bank have presented worrying internal governance practices that have been exposed by employees tied to alleged complaints of nepotism, violations of good management practices, victimization and insensitivity.

This is part of the reason that many citizens have turned to the credit union movement, for more compassionate, dedicated service and responsiveness to members who are more than accounts.

3. Poor national governance concerning Labour and Financial Matters

We cannot trivialize these matters. Our response cannot be that we will deal with a burning house when we return from the market. They must be handled with agility. Historically, and presently as a society whose bedrock is the working class, their plight represents vulnerability at all levels and has social and economic consequences for all. WAKE UP!

The state resources allocated to deal with labour concerns should not resemble those of 1938. We cannot ignore the fragility of financial systems in Small Island Developing States, like Saint Lucia.

Where are national regulators and oversight bodies? Or, are only credit unions being policed and choralled?

4. An Erosion of Real National Development at the heart of Indigenous institutions

One of the greatest travesties is that the 1st National Bank's treatment of its employees is opposed to its foundation as Saint Lucia's first indigenous bank. Established in 1938 as the Saint Lucia Co-operative Bank Limited, the Penny Bank was the avenue for the average man and woman whose money and labour meant nothing to the established colonial banking order. Depositors would often deposit pennies as their contributions. But their cents made a difference in developing financial wealth and stability for the working class. More than that, the bank was able to, at crucial moments, provide development support to the Government of Saint Lucia for national development. It is not accidental either that its emergence coincides with labour movements and riots throughout Saint Lucia and the Caribbean.

5. A disregard for the customer (locals)

Who do we serve? Why do we exist?

The impact on local customers must never be underestimated. While many are in solidarity with banking employees, they suffer the losses of being denied their wages and services. We know the difficulties of opening an account or even cashing a cheque without an account. It is like a terrorist screening. The local customers- their livelihoods, families and businesses must be considered.

A few weeks ago, on my way to the bank, I was told that it was closed due to "technical difficulties". An elderly woman came and asked in Kwéyòl, ' Ki mannyè yo fèmé?' (Why are they closed? In English). An employee within the bank explained in English but the elderly woman did not understand. I translated for her in Kwéyòl and then she did.

Whether said in English or Kwéyòl the cumulative actions that have led to employees, and customers receiving this kind of treatment are unacceptable.

Good sense must prevail. Preserving the dignity of every worker is part of upholding his or her humanity. It is a social responsibility that we have as a society formed under conditions of the worst forms of human exploitation and annihilation ever known to man.

If the bank's management cares about its integrity and legacy it will act decently.

Various government agencies and individuals in positions of authority must address this matter appropriately. At such a crucial political and historic moment when we have witnessed the introduction of a minimum wage, do not remove your feet from the accelerator.

Positive conditions of work are not just about enacting policies, but also changing attitudes, biases, and socio-cultural behaviours that treat people like slaves or commodities.