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Merchants Bank Should be Approved


Dear Source:

Merchants Bank would be a wonderful addition to the Virgin Islands community. The "concern" that Virgin Islanders will be intimidated by first class service is outrageous and patronizing. Do Virgin Islanders who need loans deserve loan commitments that take longer than "normal" because they come from Puerto Rico or the States? Why must Virgin Islands merchants physically take time off from their businesses to travel to the bank to meet with bank personnel? The idea that bank personnel will travel to my office to meet with me to discuss my needs, serves my interest.
I would like to know that no personal information will be put on the laptops proposed to be used by the bankers, in case of theft, and that my information is protected; however, in view of the founders of the bank, I am confident that they have thought through this issue.
Merchants Bank appears to be a bank designed for merchants. Why is this unfair? Why is this wrong? Who is Merchants Bank going to harm? We live in a society where competition is supposed to be welcomed. We need a local bank for merchants. Why should we have to "deal" with Puerto Rican or Canadian banks if we have a local bank that is secure and safe? Let the banks compete for our money. We should be clamoring to support out local entrepreneurs who want to provide this much needed service. Give us some choice. I urge the Banking Board to move full steam ahead and allow Merchants Bank to open.
Julie German Evert
St. Thomas

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