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The TELLER

1st National Bank's Official Bi-Monthly Newsletter

Issue 17• May/Jun 2012

WHAT'S INSIDE

1st National Bank Supports 2012 Carnival

Building a Strong Cultural & Sporting Legacy for St. Lucia

Getting health insurance


The TELLER

Managing Director's Letter Dear Friends, In our previous issue, I told you that 2012 would pose as many challenges as it would create opportunities for us at 1st National Bank. Being the adaptive and progressive financial institution that we are, we had the foresight to prepare adequately for the challenges as well as embrace the opportunities before u s . I n t e r n a l l y, w e continue to streamline our operations in order to serve our customers better and exceed their expectations where possible. As the corner stone of 1st National Bank we continue to steadfastly support the St. Lucian

community on greater levels than the corporate front. 1st National Bank Limited continues to help weave the social fabric of St. Lucian life through consistent and tangible support to the arts, culture, sports and other special causes. The name 1st National Bank has become synonymous with developmental causes and initiatives within the community and we are encouraged and humbled by the outpouring of goodwill from, and by the privilege of serving St. Lucia. As is expected of The Patron of St. Lucian Arts, the Bank featured prominently in Carnival 2012, both as a sponsor and a participating corporate entity. Our very own Sheena Francis, was a Contestant in this year’s Carnival Queen Pageant. The Bank eagerly kept its commitment to a range of carnival groups and initiatives. Such commitments were emphatically validated by the stunning displays and events put on throughout the St. Lucia Carnival 2012 Calendar of Events. Despite the predicted economic difficulties posed by 2012 1st National Bank continues to have full share in maintaining the vitality of St. Lucian Arts and Culture. 1st National Bank also continued its support of the St. Lucian community in the field of sports. The Bank was especially proud to sponsor St. Lucia’s Under-23 Netball Team which participated in the OECS ECCB under 23 Netball Competition held in Anguilla. For the last two years the team has been receiving financial support from 1st National Bank. This comes fresh on the heels of the staging of the 18th Edition of the 1st National Bank 13 and Under Games, which was a tremendous success. The persistence and consistency with which 1st National Bank supports this range of St. Lucian endeavor is testament to only one fact. We at 1st National Bank value St. Lucia; the Bank values the unique history of St. Lucia and the Bank values the potential of St. Lucia. We recognize that every person and everything in this world has potential. However, few people and few things ever live up to it. With persistent and consistent support for St. Lucian Arts, Culture and Sports 1st National Bank manifests its commitment that this nation lives up to its potential. At 1st National Bank, we remain true to our philosophy of balancing profitability and growth with nation building. We remain resolute in our belief that we must nurture and sustain the human element of our society in order to remain a truly viable corporate entity. This is our commitment to our country and to you…our clients! God Bless

G. Carlton Glasgow Managing Director


The Big Story

The TELLER

Building a Strong Cultural & Sporting Legacy for St. Lucia Sports and culture are two pillars of social growth and the pursuit of excellence at the individual level as well as collectively as a team or group, whether at the national, regional or international level. As a truly indigenous institution concerned about the holistic development of our society, 1st National Bank St. Lucia continues to contribute tangibly to the development of the cultural industries and sports on the island. The benefits of building a strong cultural and sporting legacy for St. Lucia should not be underestimated. Cultural industries and sports tourism are strong global niche industries with tremendous revenue generating potential which can amount to millions of dollars per year. One only has to look at the iconic value of Bob Marley as a cultural brand to Jamaica or the celebrity power of Usain Bolt and

the ripple effects for the Jamaican economy, to begin to grasp the possibilities. Still within the region, the seismic impact of Kirani James’ first Olympic Gold Medal for Grenada and the OECS will reverberate across the sub-region for years to come. It is therefore no surprise that James has been showered with gifts totalling over $700,000.00 which include Government Bonds, Cash, Jewellery and Land. James has been officially appointed a sports ambassador for Grenada and will have the country’s National Stadium named after him, when completed. Trinidad was no less fixated on its London 2012 Olympic Gold Medalist, Keshorn Walcott, who swept the field in the Men’s Javelin. He was given a hero’s welcome, complete with red carpet and a gift package totalling just over TT$1 million.


The Big Story Trinidad also celebrated Lalonde Gordon, winner of two bronze medals in the men's 400m final and the men's 4x100m relay. Olympic glory transcends geographical boundaries, country size, political and ideological differences, race, colour, creed and class. Olympic glory is a world standard of excellence which all nations, large or small, developing or developed, aspire to. Though late in the game, St. Lucia has begun to produce its own sporting icons in the persons of Darren Sammy, Levern Spencer, Darvin Edwards and Johnson Charles – to name a few. Levern and Darvin are both products of the 1st National Bank 13 and Under Games, a legacy we are indeed proud of. The challenge is now for the newly reconfigured Ministry of Youth Development & Sports to come up with a strategic plan to prepare St. Lucia’s young athletes for Rio 2016 as well as the 2017 Commonwealth Youth Games, to be staged right here, in St. Lucia. The time has come for us to move from being participants to competitors and medallists on the world stage. We have no doubt that St. Lucia has the talent to produce Olympic glory. What we need to do is to nurture and fine-tune that talent to compete globally. The 1st National Bank 13 and Under Games, which saw its successful 18th staging this year (2012) has been an incubator of young athletic talent in St. Lucia. Now is the time for the powers that be to propel us to the next level. At 1st National, we are confident that it’s only a matter of time before St. Lucia wins its first Olympic medal. Rio 2016 may be our best chance yet! On the entertainment front, artistes like Boo Hinkson, Kayo, Shane Ross, Ricky T and Teddyson John are putting St. Lucia ‘on the map.’ The signal from this new administration to adopt a more strategic approach to the development of the creative industries, is a step in the right direction and one which we hope will be supported by the requisite institutional support to spur further growth and development of the creative sector. An OECS commissioned study to ascertain the economic impact of the creative industries to the respective islands and the sub-region as a whole, is currently underway. When completed, we hope this study will magnify the economic power of the creative industries and further strengthen the case for more support and resources to grow and develop our creative industries. There is also another critical element of the creative sector which should not be overlooked or downplayed. It serves as a medium for the exposure of creative talents which would otherwise go unnoticed. It also imbues tremendous pride and boost the self-worth of artistic and creative individuals whose idiosyncrasies and artistic prowess can sometimes be misunderstood, because they do not fit into the mainstream of society. As a national institution enthused with a desire for the unleashing of creative expression, we at 1st National Bank understand the artistic psyche. We get it! We really do. We believe very strongly, that we have a responsibility as a corporate entity and a national institution – to fuel the growth of sports and culture, two of the most powerful and emotive catalysts for personal development, creative expression and national pride. 1st National Bank’s

The TELLER support for culture and sports is embedded in our corporate social responsibility as a truly indigenous financial institution which is passionate about nation-building and realizing the full potential of our people. Consequently, 1st National Bank will remain steadfast in our support of these two key components of national development as we endeavour to bring out ‘the best’ in our people on the national, regional and world stage.


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1st National Bank Supports the 2012 Carnival Calendar of Events

1st National Bank Supports 2012 Carnival 1st National Bank is very specific about where it focuses its support of activities which form part of the national calendar of events for Saint Lucia Carnival. Events such as Kiddies Carnival, RC Jam and Kaiso Headquarters get special attention from the Bank. The idea is to ensure the further development of carnival and creativit y, which remains an integral part of the carnival portrayal. Bank Representative Robert Fevrier took some time to present cheques on account of the financial commitments to various carnival groups and individuals by the bank. This was done in an effort to aid activities in their growth throughout the years. The first stop was the Mas Camp of the Dame Pearlette Louisy School wh e re D yn a m i c Ki d s Ki d d i e s Carnival Band was putting some finishing touches to their costumes. We ’ v e b e e n s u p p o r t i n g t h e Dynamic kids for the past four years and this year we’re expecting great things from them again. As always the quality good, the standard is high but the most importantly we continue to support dynamic kids of the Dame Pearlette Louisy Primary School because of the message that they are able to put out there at carnival time. The message blends into the entire cultural aspect of things.

Dynamics Kids theme this year is “A child’s vision to invest”. I think it is a very opportune time that we are coming with this theme “a child’s vision to invest”. 1st National Bank has supported us and encouraged our students to save. A young reveler from Dynamic Kids was more than happy to thank 1st National Bank for its generosity. I represent the section Investment. I will have fun jumping on the road with dynamic kids. I thank 1st National Bank for supporting us. The next stop for 1st National Bank was Rituals Carnival Mas Camp where the makings of Nubia on the Nile were in its final stages. This year, Rituals celebrates its tenth anniversary and examines the contribution of Nubian society to global culture in their street portrayal during the parade of bands. We’re again this morning at Rituals Mas Camp and with 1st National Bank, one of our lead sponsors with our Kiddies. They have been here with us from inception and it’s been six years since we have been doing our kiddies carnival band. We have had the adults section for ten years. This year we participate under the theme “Nubia on the Nile” Rituals Carnival Band 2012. It’s our tenth year and we’re very thankful for the support.


1st National Bank Supports the 2012 Carnival Calendar of Events


Spotlight on the Community 1st National Bank Supports Lucian Spirit 2012

Organizer, “Lucian Spirit is portraying the legacy of Chin Shai Yuang, once a Chinese emperor. He was 13 years old when he became emperor and he was obsessed with the afterlife.” Their Chinese theme selection was inspired by a little superstition mixed in with the need to maintain the art form of traditional mass. Organizer, “Anytime we did something epic, we won! When we did “Gods and Goddesses”, we won, when we did “Out of Egypt”, we won, and that year we won everything there was to win.”

The TELLER “There is the notion that a lot of the costumes are being imported these days and not enough time is spent in actually creating something from nothing, and that is a talent that needs to be nurtured. There were at least 100 students who were creating costumes for the workshop and Lucian Spirit played a major role in enabling them to do so,” says Bank Representative, Mr. Robert Fevrier. The Band launch was piggy backed on the Bay Garden Hotel’s weekly street party, which gave hotel guests a good taste of Saint Lucian Carnival as a major activity on the islands social calendar. Hotel representative, “the majority of guests who are here at this time are not going to be around for carnival, why not bring the carnival to them and give them a taste of what our carnival is like, our music our sounds, our costumes, and who knows these are the people that next year or in two years have planned to come back.” According to Paul, similar band launches will be held every Friday for carnival bands looking to promote their offerings for 2012. The Saint Lucia Carnival Pageant. Championing the Calypso Art Form

1st National Bank as a traditional sponsor of Lucian Spirit band has extended its support this year by also assisting in the hosting of a carnival workshop for students held at the Castries Comprehensive Secondary School. The Bank felt it was a good way to prepare the next generation of costume designers.

1st National Bank also demonstrated its faith in the Calypso Art Form with kind support extended to both the RC Jam and Kaiso Headquarters (the annual Police Calypso Competition), both the regular highlights in the Carnival Season here. For the young singers in the RC Jam, part of their prize is the contribution by 1st National bank towards their own Savings Account. Teacher Don Howell says the assistance from 1st National Bank improves every year.


The TELLER

Spotlight on the Community “I want to begin by thanking 1st National bank for being with us throughout the years, helping us to grow, helping us to develop the art form, and secondly I want to thank them for increasing their support, because I realize every year it’s going up and up, and I hope they don’t ever put a cap on their support. The sky is the limit with 1st National Bank.”

Without you we would not be having this ceremony and I can tell this is really guava season. It is really difficult to get sponsorship so we appreciate it very much and we thank you all so much for coming and for being there, and for helping us to support the young women of St. Lucia. For 1st National Bank, Carnival in St. Lucia is less about revelry and a little more about developing a sustainable art form for generations to come. Carnival Queen Pageant

1st National Bank has lived up to its reputation as a bank with arts and culture at its core, and as its social responsibility, and it has certainly guided their efforts in supporting events such as this. This is not the first time the bank has supported a carnival queen contestant, 1st National Bank Notes Anchor Sheridan Plummer received the royal treatment in 2004. Representatives of the indigenous financial institution were in the forefront of the sashing ceremony to publicly demonstrate and to lend more support to their contestant. 1st national bank has been in the forefront of showcasing and highlighting the achievements of women so all of these seven contestants are very beautiful and intelligent but only one can wear the crown and we are hoping of course that it is going to be Sheena Francis of 1st National Bank Saint Lucia limited. Netball

The carnival queen pageant is one of the major activities on the Saint Lucia carnival calendar of events held annually in July. One of the traditional rituals around the pageant is the sashing ceremony now into its tenth year. Where sponsors get to meet and mingle with contestants within a social setting. Each competitor gets to introduce herself to sponsors in the presence of parents, chaperones, friends and the media. My name is Sheena Francis, I am 20 years old and I live in Canaries. I work at 1st National Bank as a customer service representative. I enjoy modeling; I am a part of the silhouette fashion house agency. Agent Shermack Leon really inspires me to be a better person to show my confidence and my beauty. It is getting more and more difficult to convince private sector entities with deep pockets to put financial resources into the show, which has a small but dedicated audience. This fact was not lost on the pageant committee as several times between the evening’s proceedings they expressed their gratitude to sponsors for coming onboard.

The objective of the OECS ECCB under 23 netball competition is to not only improve the sport of netball but to provide an avenue for the region’s young women to develop both socially and athletically. Saint Lucia’s 2012 under-23 girls are hard at work preparing for their first encounter, which will take place shortly after their arrival in Anguilla. Team management is confident about their preparedness. Most of the players are members of the victorious under 16 team


Spotlight on the Community from the under 16 tournament of the last two years. I am highly confident that they will perform. St. Lucia has won the tournament 4 times since 1991 with their biggest rivals being 12-time champions St. Vincent and the Grenadines. Jamaican head coach Corny Francis, although brought in to train the senior netball team has done some work with the under-23s. Francis says the team is capable but the championships are going to be tough. The outlook is looking good. I have been very frank with the girls its going to be a very tough series but I believe that we certainly have the depth and quality of players to do extremely well. For the last two years the team has been receiving financial support from 1st National Bank. The ECCB sees the championships as an avenue for development of St. Lucia’s young women.

The TELLER

knew he would watch the 30th Olympiad as HTS held the right to broadcast the games in St. Lucia. What he didn’t know was that he would be viewing the games live on location in London. Thanks to the 4C’s Visa Olympic Motion, Mr. Fevrier was the winner of an allexpense-paid trip to Great Britain to be one of thousands attending the various events.

My only plans for the Olympics was to watch it on HTS and I never thought that I would be afforded the opportunity to travel to London for the Games. Having said that, let me just thank 1st National. 1ST National Bank is a bank that I have been dealing with for a very long time and I am very happy with the service of 1st national Bank and also the credit card service.

This netball tournament gives us an opportunity to support our young women in the theatre of sport. As you know, once upon a time, St. Lucia was well known to put out some very skillful net ballers, like Paula Calderon and Martha Biscette and the manager of this team Patsy Heywood, was once a national player. So there is a lot of experience to be drawn from. These individuals are from an era where we flew the flag of St. Lucia very high. So the young ones have the guidance. With the aid of our veterans, these young women can really achieve their goal. Saint Lucia’s under-23 netball team received a cheque in the amount of $5000 from 1st National Bank towards expenses incurred during the tournament. St. Lucia last won a regional Title in 2005. LUCKY WINNER OF LONDON Olympic TICKET 2012

Managing director of Helen Television System, Linford Fevrier,

Mr. Fevrier is a customer of 1st National bank and proud owner of a Visa, 1st credit card. He was randomly chosen during a selection process and became eligible for the grand prize draw which took place on June 1. His prize included flights to and from London, accommodation at a 4-Star hotel, Visa Olympic themed merchandise and attendance at preselected Olympic events. According to representatives of 1st National Bank, entry into the competition was easy. “In order to qualify for our Olympic Summer Promotion, our card holders simply had to make transactions using their cards for a minimum of 100US dollars per month between the months of March and May in 2012. 1st National Bank representatives made the prize presentation on HTS’ premises on The Morne. Mr. Fevrier flew out of St. Lucia on Sunday June 5, in time to enjoy the opening of the Olympic Games in London. Veterans’ Cricket

The veterans cricket league started four years ago with seven teams from around the island vying for supremacy. This year with sponsorship from 1st National Bank and other corporate entities the event attracted a total of 9 teams from various communities in


Spotlight on the Community Saint Lucia. The 19th game of the tournament was the final between two very competitive teams, Castries and Millet. According to the Chairman of the Cricket Masters League, Deldridge Flavius, the atmosphere around the tournament has been tremendous. “From the time the tournament started a number of communities and towns showed tremendous enthusiasm. This thing is a lot more exciting than I thought. In fact we have communities saying that they want to be part of it for next year’s tournament. They say they want to put a team together. Communities like Laborie, they were not on board, they now want to be on board, Anse La Raye are saying they want to come on board, and Choiseul is saying likewise.” With perfect weather conditions but low spectator turn out because of competing carnival related events the game got under way. Organizers say that they were encouraged by the response from teams and players and are hoping to develop the league in the future. The funny things is, guys who had not played for awhile are coming back and saying well listen, is this going to be an annual event, we would like it to be an annual event. So we can get active and remain active in the game. So we know it is going to grow and I dare say that because we have joint sponsors, the sponsors are saying we would like to sponsor our own tournament. However we see that in general the future for veterans cricket is bright.

The TELLER workshop while on island. This year’s event also featured the Governor General speaking on the topic “Negotiating a National Development Agenda, the Role of Culture. Veronica Simon, Head of the UWI Open Campus said that the lecture was intended to spark public discussion.

The series of lectures, instituted in 2010, one year after the death of Mrs. Patricia Charles, are designed to promote the type of public discourse that Pat Charles enjoyed. On topics pertaining to Education, the Arts and Cultural Development areas which were dear to her heart and which fueled the tenacity of purpose for which she was well known. Her Excellency Dame Pearlette Louisy is an Educator and Linguist by profession. She has spent the last 15 years serving as St. Lucia’s Governor General. The UWI Open Campus chose the Governor General since she has written several major papers and has written numerous presentations on language, education and culture. The topic is particularly relevant amidst much talk of global positioning by way of creative industries and I am sure that our guest speaker is going to elucidate the relationship between the creative industries, cultural industries and sustainable development. In her presentations, Dame Pearlette made the connection between national development and culture with the thrust towards the advancement of a cultural industry in the island.

1st National Bank, sponsors of the event, say that they are proud to be associated with the event, having sponsored the recently held 13 and under games. Sports is one of the Bank’s focal points of sponsorship as an indigenous financial institution. Sports is really something we think is necessary, we think it is important for the country’s development, for our people’s development as well as individual development. We all know the benefits of sporting activities, what they can do for the body what they can do for the mind as well as what they can do for the spirit. We are very pleased to be associated with this event and we look forward to a very positive outcome on either side. Following an exciting encounter between Castries and Millet, Castries emerged victorious in the Cricket Masters Tournament. Pat Charles Annual Memorial Discourse 2012 Dr. Hollace Liverpool known widely around the region by his Calypso sobriquet Chalkdust, delivered the first lecture in the series at its inception in 2010. At the time he also conducted a

Getting a renewed local debate on these two issues, culture and development, is timely, given the current heightened interest of the general public in the emerging area of cultural industries and there is potential for economic growth and development and in the area of heritage and cultural identity. The Pat Charles Memorial Lecture took place at the Bay Garden’s Hotel on April 26th 2012.


Money Guide for Financial Success

The TELLER

A communication of the National Savings and Investment Programme supported by 1st National Bank

You Need Health Insurance Yes acquiring insurance is a key to financial success! Insurance is a form of risk management used to lessen the impact of uncertain loss. We all need to subscribe to some form of insurance because “time and chance happens” to us all. Medical or health insurance is especially important; you or a family member is bound to get ill. If you own a car, car insurance is mandatory, how much more so insurance for the health of you and your loved ones. Viewing it in this way will build in you the urgency to acquire health insurance. Health Insurance coverage for the most part is not cheap. Acknowledging its importance is the first step to paying a lower premium. This is because, when something is important to you, you have greater incentive to negotiate. Firstly you must personally work out a premium (monthly payment/cost) that you can afford. Get the right estimates as early as possible. Study them. You can acquire information on insurance programs offered by local firms by simply visiting their official website or calling a branch near you. Have a broker email you the information. You will notice that there is a great range of programs that is offered, featuring differences in costs, level of coverage and policy. The choice of program all depends on the needs of you and your family. “What you are looking for in an insurance plan.” You will also find out what is required of you,” health wise” to acquire a certain plan. Take into consideration the specific health conditions of members of your family. Members with chronic health issues example; diabetes, sickle-cell and heart complications, will inevitably increase your premium. This is by no means a deterrent to getting health insurance, if anything it is more incentive. It gives you and your family great comfort to know that in the event of these problems worsening, you will be supported financially by your insurance plan. Interestingly, many view a health insurance program as only an emergency fund. However health insurance can be more versatile.

Covering dental care, physiotherapy, general doctor’s checkups and other health related activities. It may even cover your salary if you need sick leave. However, you may choose not to use it for these purposes due to economic reasons. It is up to you to examine your options and use them cautiously. Here is how you should maintain your insurance plan after acquiring it: 1) Find out the deductible of your major medical health insurance policy. It would be the amount you would have to spend out of pocket before your health insurance kicked in and covered the rest. 2) Build up a savings account to cover your deductible in case you have a major medical occurrence. Contribute the maximum allowed to your HSA (Health Savings Account) which is automatically offered with a major medical plan. Save any above that in a bank account for that specific purpose. 3) Pay your monthly or quarterly premiums on time to avoid coverage lapse. Reestablishing health care coverage can be costly and is not guaranteed, so keep your coverage current. 4) Submit all doctor bills to your insurance company. While they won't pay the bills (you need to pay them using your savings or HSA) they will keep record of your expenses, which count toward your deductible later on. 5) Stay as healthy as you can by eating well, exercising, avoiding stress and being safe. The health of you and your family should be of utmost importance to you. If you have not acquired health insurance for your family, don’t you think it is time you did. Start today by giving it careful consideration, meditate on your family’s need for security. Requesting information about the various health plans will come at no cost to you, and you have everything to gain including the peace of mind in knowing your family is prepared for any eventuality.


Interesting Money Facts & Jokes From Across the Globe

The TELLER

Sometimes it’s hard to see the lighter side of money and personal finance. But here are some funny ones about money to lighten things up. When a habit begins to cost money it is called a hobby. Bills travel through the mail at twice the speed of checks. It's not hard to meet expenses... they're everywhere. Creditors have better memories than debtors.

The teenager lost a contact lens while playing basketball in his driveway. After a brief, fruitless search, he gave up. His mother took up the cause and within minutes found the lens. "How did you do that?" he asked. "We weren’t looking for the same thing," she explained. "You were looking for a small piece of plastic. I was looking for $150." Easiest way to figure the cost of living: take your income and add ten percent. Money can't buy happiness but it can certainly rent it for a couple of hours.

All I want is a chance to prove that money means nothing to me! Don't lend people money... it gives them amnesia. Borrow money from a pessimist - they don't expect it back.

I took four tires to a friend’s garage sale and was asking $30 apiece. I needed to leave for a few minutes, so I asked him to watch them for me. "Sure," he said, "but if someone offers less, how low are you willing to go?" "Try for more, but I will accept $15," I said, and left. When I returned, my tires were gone. "How much did you get for them?" I asked excitedly. "Fifteen dollars each." "Who bought them?" "I did!" From our local TV news station, this undeniably true travel suggestion: "Next up, ten money-saving tips for your trip to Hawaii. Don’t go away!"


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