Banking has returned to Long Island and is hopefully on the road to expansion, Member of Parliament for Long Island Adrian Gibson said last week, revealing that Omni Financial Group Limited is open and will participate in a town hall meeting on Friday to apprise the island’s residents on all of the services being offered.
This year Omni partnered with the Royal Bank of Canada (RBC) to take over its banking operations on Long Island. Last year, RBC pulled out of Long Island, leaving that island’s residents without the services of a commercial bank.
“Next week, Omni Bahamas will participate in another town hall meeting,” Gibson said.
“Omni is partnered with Royal Bank of Canada and has taken over its banking operations on Long Island, allowing businesses to be able to carry out the usual transactions and maintain RBC accounts. They will share with residents all that they offer and I trust that those offerings are taken advantage of.”
Gibson, who made his remarks at the Long Island Business Outlook, added he has hopes that Scotiabank’s limited presence on the island will turn into full service banking when the airport is expanded and improved.
The partnership between the two financial entities means RBC Visa Debit cardholders now have the ability to conduct cash transactions and ATM withdrawals at Omni’s location in Grays, Long Island.
LaSonya Missick, managing director of RBC, said in July, that the partnership is a first for the bank. She said the move positions RBC as a “market leader for innovation and service in The Bahamas”.
Gibson also noted that Sun Cash provides bill payment and money transfer services on the island.
When it was announced last year that RBC would pull out of Long Island, there was a worry that businesses would suffer since Scotiabank’s satellite branch opened only two days every week.
Gibson worked hard since RBC left to ensure that banking services would be returned to the island.