Published On: Fri, Jun 5th, 2020

WIB takes corporate citizenship seriously

WIB bank & Rotary Club members - Donation pic

PHILIPSBURG – The Windward Islands Bank (WIB) has shown with two actions that it takes its corporate citizenship seriously. The bank donated 110,000 guilders (close to $61,500) to the Rotary Club of Sint Maarten for its food program and it offered its clients a 3-month moratorium on payments for loans, mortgages and credit cards.

The Rotary is going to use the WIB-donation for food baskets, clean water and essential items for those in need and in support of school meal programs when schools reopen.

“The WIB is very much aware of the devastating impact of COVID-19 to our economy and realizes that help from corporate St. Maarten is needed to mitigate the effects,” the bank’s general managing director Derek Downes stated in a press release. “In the upcoming months, much consideration must be given to the wellbeing of our citizens, especially the seniors and children. We cannot allow that people are going to bed hungry. WIB is therefore motivated and happy to provide ongoing support to our community in times of crisis.”

The bank’s decision about a moratorium for the months of June, July and August on payments for loans, mortgages and credit cards is another recent example of corporate citizenship.

The moratorium applies to commercial and personal loans, to personal mortgages and to personal and commercial credit cards. To qualify for the moratorium, payments must be up to date or be less than 90 days in arrears.

The bank applies the moratorium automatically to all clients in St. Maarten and commercial clients in Saba and Statia. Clients in Saba and Statia with personal loans, mortgages and credit cards have to opt-in.
Clients who do not want to use the moratorium can opt-out; the relevant form is available on

In case there is a glitch and payments are deducted from accounts of those who are using the moratorium, clients should call 546-2942 to clear matters up, or email to

Those who opt-out of the moratorium offer but later decide, for instance, due to changed financial circumstances, that they want to use it, after all, can use the same email address to apply.

The moratorium entails that payments on principal and interest will be deferred for three months. The initial loan term will be extended by the number of months during which the moratorium is in place.

For credit cards, the situation is slightly different. The incurred interest will be added to the ending balance of the next statement. This does not apply to cardholders who pay the ending balance of their last statement in full. Because credit cards do not have an ending date, the ending balance and resulting minimum and/or full payment amount is determined by the usage and payment behavior of each cardholder during each statement cycle.

Clients who do not want to use the moratorium for credit cards must make a manual payment before the 3rd of the next month. The bank has communicated details of how to deal with such situations to its clients. Customers can view the information on the WIB website or on its Facebook page.

Photo Caption: Rotarians: Danny (Deepak) Ramchandani/John Caputo/Sherrylle Horsford (President) and WIB Management: Derek Downes (General Managing Director), Ector Gumbs (Assistant Managing Director). Photo provided by WIB Marketing & PR department.