1st NatioNal BaNk's official Bi-MoNthly NewsletterIssue 10 • Mar/Apr 2011

The

Funny MoneyLighten up For

a whiLe, spare a MoMent For a

chuckLeMAKING EXTRA MONEY

GET YOUR KEYSTO FINANCIAL SUCCESS

COMMUNITY COMES FIRST

When the Way of the past is the vision of the future

WHAT'S INSIDE

the Big story

TELLER

This issue of The Teller is a milestone, as it

marks our 10th edition. Thanks t o t h e t e a m that has kept the newsletter exciting and relevant and on time since

the first issue over a year ago. A l so ,

thanks to our faithful readers

who have no t only collected the

issues but also sent us comments and

ideas on improving every edition.

W e h a v e plans

to present this publication as a dynamic e-newsletter, another form of delivery which I trust many of you will embrace. Since the last issue much has happened at YOUR Bank. We have been involved in special Community Projects such as “Do Something Saint Lucia” – as Platinum sponsors - where our staff joined hands with other local corporate entities in restoration efforts in the Soufriere area after the effects of Hurricane Tomas.

This period also marked the 18th anniversary of the 1st National Bank 13 and Under Track and Field Championships. We are heartened by the record level of participation on the part of both athletes and spectators. This is a positive sign for the youth of our Country and we look forward to the prospects of next year’s events.

I would also like to take this opportunity to thank our TEAM at 1st National Bank for their efforts, diligence and focus that led YOUR Community Bank to the posting of a creditable profit performance last year. This, at a time when local and regional Banks have faced tremendous challenges to their bottom line. We

also thank our customers who continue to place their trust and confidence in us.

Finally, The Big Story in this issue presents a strong case for the perpetuation of the

Community Bank concept a vital part of our economic growth and sustenance. This is a philosophy which we at 1st National Bank continue to uphold and deliver on everyday

and one which continues to deliver back to us.

Enjoy!

Managing Director's Letter

G. Carlton GlasgowManaging Director

Community banks are what were once referred to as “Banks”. Simply put, before the advent of huge mergers and multi-national branch development, your bank was just that, the bank in your community. Such was the thinking behind Saint Lucia’s first penny bank in 1938 toady’s 1st National Bank, started as the first indigenous community bank, with founding principles of service and the empowerment of the local community through access, for the first time for most, to true banking convenience and stability.

The bank has stayed true to these core principles and grown organically w i t hou t l o s i ng t ouch w i t h i t s community roots despite fairly recent international banking shifts to meet the needs of the ‘Global Village” which have driven many banks to seek a presence in every market, stretching past their core communities to install turn-key franchise operations across the map. The practice has advantages, mostly to the parent company, but i t is also valid to consider the advantages offered to the customer and community of the community style bank and how it has evolved more organically.

One of the key advantages of community banks for customers is direct access to senior bankers and top managemen t . Wi th a community bank, employees on the front line have more discretion to make decisions than a larger bank that must follow stricter policies and procedures from often far-removed corporate headquar ters . At 1 st National Bank, managers and staff alike are drawn from the best of local industry and have a unique and deep commitment to local development, displaying a professional empathy for the needs of the growing client base and the regional context in which they must function.

C o m m u n i t y b a n k s c a n o f f e r personalized services the larger banks have a difficult time matching. Whether it is a teller's smiling face

When the Way of the past is the vision of the future.

The Big Story

or a bank officer delivering documents to your business, community banks go a long way towards providing a high level of personalized service. Community banks have also done a good job of retaining their staff, allowing them to provide a consistent customer experience and real community development. Community development has been a hallmark of the 1st National Bank history in Saint Lucia, reflecting the founding principles that what is good for customer and nation, is good for the Bank itself.

Excerpts from Ted Johnson of Korn/Ferry “The primary economic driver of smaller and rural communities is small- to medium-sized businesses. These businesses want to deal with local decision makers.”“Community banks offer what members of this market desire: personalized service, a custom tailored approach to investing and a trusted advisor who is going to be there for the long term.”

As technology narrows the gap between products offered by large and small banks, community banks must distinguish themselves and communicate their value to new and existing customers.”

Traditionally, larger banks have used their investment and capital base to advance in technology and brick and mortar presence, challenging community banks to reach out to their customers and to find alternate ways to service them 24/7. Like 1st National Bank, the prudent community banks have caught the wave of new and available technology to meet these service needs with ABMs, online banking such as at www.1stnationalbankonline.com and mobile banking, further eroding the presumed advantage of the deep-pocketed multi-nationals and giving local clients the tools to define their own positive customer service experience..

Further, the demand on the smaller community bank to operate efficiently, retain staff and grow relationships has driven the local banking market to a new paradigm, where the larger, less efficient

banks are now scrambling to meet the higher service expectations of customers, the career opportunity needs of staff and to battle a soft economy that is eroding their profits. As a result, recent performance statements of local banks show that community banks, such as 1st National Bank have outperformed the larger regional entities both in service and profitability measures with 1st National Bank winning top recognition for Corporate Leadership, Corporate Social Responsibility and Business of the year while at the same time posting healthy profits that will fuel further development and national investment in keeping with the bank’s long history of community support and industry leadership..

That superior service and professional management can lead to profitable excellence comes as no real surprise to 1st National Bank.The Board and Management has long recognised that the core principles on which the Bank was founded were valid tenets on which to drive a sustainable development course, both for the Bank as well as the many communities it serves in partnership.

The Big Story

Spotlight on the CommunityCOMMUNITY COMES FIRST

The Soufriere primary school is located near a large river and so the facility got the brunt of the raging waters and endless silt from the passing hurricane Thomas. Soufriere, being hardest hit by the storm, had so much to do with so little resources. Certain areas have suffered uncharacteristic neglect. 1st National Bank gave a helping hand recently along with nearly 300 persons representing local companies and charitable groups. 1st National Bank organized over 25 volunteers, some bringing along their entire family to help out their fellow St. Lucians. “We are here for the people of Soufriere who suffered the brunt of Thomas, October last year. Therefore we saw it fitting to really show our support, work hand in hand, share our resources especially our talent and skills in restoring the school. 1st National Bank sought to ensure the comfort of the people who work here the staff, teachers and principal. Most importantly 1st National Bank sought to create a healthy working environment for the students!” said Mr. Fevrier. 1st National Bank’s involvement together with nonprofit organizations like Do Something World St. Lucia had a great impact in re-furbishing the walls, tables, bathrooms and other important facilities.

The fond St Jacques Primary School was used as a temporary shelter for displaced persons for over 5 weeks following the passage of hurricane Thomas. With the help of 1st National Bank the courtyard has been resurfaced for games and other recreational activities enjoyed by the students. There was much to be done to restore the school to its original condition. During the passage of the storm the school not only lost its greenhouse but its home economics and agricultural programs. These programs depended heavily on the crops grown in the greenhouse. The principal of the school was grateful for the banks aid in repairing the most crucial sections of the school. The sponsorship of 1st National Bank facilitated the repair of the school greenhouse and the air conditioning system for the Information Technology lab. It was also used to fund the removal of neighboring trees that threatened the school building due to their compromised foundations. 1st National Bank representatives timed the clean up and restoration activity perfectly. Ensuring the fond St Jacques Primary School would not go through the 2011 hurricane season in its post Thomas condition.

1ST NATIONAl BANk CARESThe C.A.R.E exhibition was held recently, on the top floor of the Blue Coral Building. This exhibition was sponsored in part by the 1st National Bank. The Bank has a tremendous involvement in the mentoring program. As part of the banks initiative to support the program a team of staff members makes scheduled visits to the school located in Odsan. During their visit they speak with many of the young individuals. The group also participates very keenly in projects undergone by the students. C.A.R.E students have several areas of vocational skills; Auto Mechanics, Carpentry and Joinery, Electrical Repairs just to name a few. C.A.R.E builds its students’ self-esteem and conduct. The school also engenders a sense of responsibility in students, not just for themselves but also for the welfare of their peers and others, appreciating the consequences of failing to do so. The Executive Director of the Center for Adolescent Renewal in Education is proud of the work exhibited by the students in the C.A.R.E program.

1ST NATIONAL BANK DOES IT AGAIN - FOR SAINT LUCIA1st National Bank working hand in hand to restore a community.For so many, school is where we learn about not only academics, but of community, society and what it takes to be a proud St. Lucian.

For the students of Soufriere Primary School and Fond St Jacques Primary School, it was also where they learned last year of the terrible power of nature as their schools were torn apart by Hurricane Tomas.

This year however the lesson was in the power of the positive nature of a committed national institution as staff of 1st National Bank, showed why the Bank has for two consecutive years been nationally recognised for corporate social responsibility.

Armed both with cheque book and the people power of the staff, 1st National Bank contributed both in kind, with the donation of funds to repair, replant and renew the agricultural project and play area of Fond St Jacques Primary School, and in person with the staff cleaning, clearing and making safe the entire compound of Soufriere Primary School.

With the 2011 season already started, these schools were finally able to close the chapter on last year, strong, proud and ready for the future.

1ST NATIONAL BANK DOES IT AGAIN - FOR SAINT LUCIA1st National Bank working hand in hand to restore a community.For so many, school is where we learn about not only academics, but of community, society and what it takes to be a proud St. Lucian.

For the students of Soufriere Primary School and Fond St Jacques Primary School, it was also where they learned last year of the terrible power of nature as their schools were torn apart by Hurricane Tomas.

This year however the lesson was in the power of the positive nature of a committed national institution as staff of 1st National Bank, showed why the Bank has for two consecutive years been nationally recognised for corporate social responsibility.

Armed both with cheque book and the people power of the staff, 1st National Bank contributed both in kind, with the donation of funds to repair, replant and renew the agricultural project and play area of Fond St Jacques Primary School, and in person with the staff cleaning, clearing and making safe the entire compound of Soufriere Primary School.

With the 2011 season already started, these schools were finally able to close the chapter on last year, strong, proud and ready for the future.

Spotlight on the Community

The center aims to foster positive attitudes in young people thus empowering them to live wholesome and independent lives.

ST. lUCIA AMATEUR SwIMMINg ASSOCIATIONThe St. Lucia Amateur Swimming Association recently hosted the 1st National Bank Secondary Schools Swim Meet at the Rodney Heights Aquatic Centre. 1st National Bank has been hosting the swimming competition for over 4 years. The Bank has zealously invested upwards of 15 thousand dollars over that time period. Secondary schools from around the island converged at the Rodney Heights Aquatic Centre, competitors and supporters alike for the tenth annual Secondary Schools Swim Meet. This year being the largest meet in the history of the event!The swimmers representing eight secondary schools competed in several age groups; 11 to 12, 13 to 14 and 15 & over girls and boys. During this year’s competition, Joshua Renako Daniel broke the male 100-meter backstroke record set by Jordan Augier back in 2010.

There was very strong representation by the Vieux Fort Comprehensive School, many of their swimmers being members of the Southern Flying Fish Swim Club. They were the biggest swim team in the competition and their hard work paid off in the end as they emerged overall winners of the 10th annual Secondary Schools Swim MeetThroughout the last five years of this decade old competition 1st National Bank has demonstrated an unwavering support for the sport. The Annual 1st National Bank Secondary Schools Swim Meet is part of a family of sports and sporting events loyally supported by the 1st National Bank.

STAFF wORkShOp1st National Bank enlisted 16 supervisory personnel to attend the Local Companies’ Improvement Seminar, which was held at its Castries branch. The seminar is geared towards addressing the urgent need to improve low employment productivity in St. Lucia. In order to resolve the problem the Employers Federation took the initiative by inviting a productivity expert from Barbados to assist local companies in improving employees’ output. The first phase of the seminar was composed of three companies who volunteered to

partake in the venture. Of the three companies 1st National Bank has taken the lead as the first company to increase staff productivity. They firmly believe that in order for an economy to grow it depends highly on the efficiency of the country’s workers. Improvement in workforce productivity will enhance the quality of life of the citizens. This puts the government in a better position to introduce initiatives, which catalyze the growth of the St.lucian economy. By taking this proactive approach in repairing our economy from its very roots “our workforce”, 1st National Bank has started a trend! 1ST National Bank will be without a doubt the first of many companies to implement such re-vitalizing projects. These projects will stimulate the professional minds of every individual in St.lucia’s vast workforce. Other companies will follow this pathway that has been laid out by 1st

National Bank, as has always been the case. With more companies coming on board, results will be visible, initially with a reduction in absenteeism in the St.lucian workforce. By no means are instant changes expected, however 1st National Bank has once again taken its corporate responsibility seriously in taking the very first step in this marathon of a journey, to a productive St.Lucian workforce.

Due to the recent economic climate many St.lucians may argue that their monthly income is just not enough. But have we taken advantage of every money making opportunity out there? Hardly! The St.lucian community offers opportunities at every corner, unexplored industries, areas where demand is simply not being met. Do your skills allow you to properly supply those many demands? Are you making the best use of all your assets, do you place value on every aspect of your life, your time, your hobbies, your skills, the stuff lying in your garage? Here are some changes you may be able to make to improve your total monthly income.

The first is probably not the most popular, “get a second job.” We’re all advised to examine our circumstances. If you have the time and energy, a second job may be ideal for you. This “second job” need not be as long or nearly as strenuous as your usual job. You are simply capitalizing on an opportunity, using your assets, your “time and energy”. Therefore it may be part-time, as long as you are utilizing all your opportunities. If having a second job is not practical in your case, you may choose to forego the opportunity, but be keen on utilizing the many others.

The second is “utilizing your hobbies and skills.” Very often our hobbies actually cost us. However it is possible to make money off of them. We may be able to boost our income without any added stress, because we are doing something we love or are at least very good at. For instance: you may enjoy modifying your computer, what’s stopping you from doing likewise for your friend’s computers. Be a good friend and give them a discount. You can branch off by offering your service to the public. It may be your hobby but please remember to be professional! The same counts for skills you have gained from schooling or general experience. Skills in woodwork, plumbing, architecture, sports, photography, art and writing can all be monetized. These are all valuable assets

and the earlier you accept and apply this principle the sooner you can boost your income!

“Supply the demand.” St.Lucia is a small country, but somehow people tend to ignore the obvious demands, we expect that someone else will supply certain services and products. For example every holiday weekend, the supermarket tends to run out of bread; literally thousands of St.lucians are left without bread. The bakeries and supermarkets fail to capitalize on the high demand for bread. They have missed out on money making opportunities. Many facets of St.Lucian industry tend to function in this way. It therefore becomes your opportunity to pick up the slack, to make the money they would have otherwise made. When you notice opportunities to supply, grab them. Doing so will certainly boost your income.

“Sell your stuff! It can be hard to part with things you hold dear. You should not be a hoarder though. Many of the things in your garage or under your bed have a price, and you more or less don’t use them. Admit it, you are tired of wearing some of those shoes and that top isn’t your style anymore, you are never going to open those CXC text books again and you definitely don’t play that n64. Sell them! You can easily advertise to close friends, family and neighbors. You may also sell each item to specialty stores, for instance your n64 to a game store, your CD’s to a music store and books to those book vendors in town around the end of summer.Selling them will allow you to free up space in your house, making you much more comfortable. And of course you increase your income!

Take advantage of your opportunities, keenly examine all your assets and make them work for you. If you do so you may be more financially stable than you thought.

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1st National Bank St. Lucia Limited, P.O. Box 168, #21 Bridge Street, Castries, St. LuciaTel: +758 455 7000 | Fax: + 758 453 1630Email: manager@1st nationalbankslu.comWebsite: www.1stnationalbankonline.com

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Money Jokes and Humour From Across the Globe

The Stock ReportHelium was up. Feathers were down. Paper was stationary. Knives were up sharply. Pencils lost a few points. Hiking equipment was trailing. Elevators rose, while escalators continued a slow decline. Light switches were off. Mining equipment hit rock bottom. Diapers remained unchanged. Shipping lines stayed at an even keel. Balloon prices were inflated. And batteries exploded in an attempt to recharge the market.

A dollar per pointA professor was giving a big test one day to his students. He handed out all of the tests and went back to his desk to wait. Once the test was over the students all handed the tests back in. The professor noticed that one of the students had attached a $100 bill to his test with a note saying "A dollar per point." The next class the professor handed the graded tests back out. This student got back his test, his test grade, and $64 change.

Insufficient FundsA young college co-ed came running in tears to her father. "Dad, you gave me some terrible financial advice!" "I did? What did I tell you?" said the dad. "You told me to put my money in that big bank, and now that big bank is in trouble." "What are you talking about? That's one of the largest banks in the state," he said. "there must be some mistake." "I don't think so," she sniffed. "They just returned one of my checks with a note saying, 'Insufficient Funds'."

When he blew a wad of money at my blackjack table in the casino, a customer stood up and yelled, "How do you lose $200 at a $2 table?!" Before I could speak, another customer replied, "Patience."

During an antiharassment seminar at work, I asked, "What's the difference between harassment and good-natured teasing?" A co-worker shouted, "A million dollars."

Dear IRS: I'm sending you this money because I cheated on my income tax and my conscience has been bothering me. If it doesn't stop, I'll send you the rest.

When he blew a wad of money at my blackjack table in the casino, a customer stood up and yelled, "How do you lose $200 at a $2 table?!" Before I could speak, another customer replied, "Patience."

A priest announced to his congregation: "I have good news and bad news. The good news is, we have enough money to pay for our new building program. The bad news is, it's still out there in your pockets."

John Paul Getty:If you owe the bank $100, that's your problem. If you owe the bank $100 million, that's the bank's problem.

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.

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1st National Bank St. Lucia Limited, P.O. Box 168,#21 Bridge Street, Castries, St. LuciaTel: +758 455 7000 | Fax: + 758 453 1630Email: manager@1st nationalbankslu.comWebsite: www.1stnationalbankonline.com

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